Bristol Myers Squibb Company $BMY Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in Bristol Myers Squibb Company (NYSE:BMY) by 5.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 301,350 shares of the biopharmaceutical company’s stock after selling 17,200 shares during the quarter. Gabelli Funds LLC’s holdings in Bristol Myers Squibb were worth $13,949,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at about $1,554,154,000. Wellington Management Group LLP grew its position in Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. GQG Partners LLC raised its stake in shares of Bristol Myers Squibb by 22,647.6% during the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock valued at $733,310,000 after purchasing an additional 11,970,598 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Bristol Myers Squibb by 16.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after purchasing an additional 10,195,775 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Bristol Myers Squibb by 428.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock valued at $523,599,000 after purchasing an additional 9,171,098 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 0.9%

NYSE:BMY opened at $51.69 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27. The company has a market capitalization of $105.23 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 7.98 and a beta of 0.29. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33. The stock has a 50-day simple moving average of $46.36 and a 200 day simple moving average of $46.81.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the business posted $1.80 EPS. Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is currently 83.78%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Truist Financial set a $65.00 target price on Bristol Myers Squibb in a research report on Wednesday, December 3rd. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Citigroup dropped their price objective on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 17th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $55.25.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.