L2 Asset Management LLC Has $417,000 Stock Holdings in Bristol Myers Squibb Company $BMY

L2 Asset Management LLC decreased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 55.8% in the second quarter, HoldingsChannel reports. The firm owned 9,016 shares of the biopharmaceutical company’s stock after selling 11,384 shares during the period. L2 Asset Management LLC’s holdings in Bristol Myers Squibb were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Norges Bank purchased a new stake in Bristol Myers Squibb during the second quarter valued at about $1,554,154,000. Wellington Management Group LLP raised its holdings in shares of Bristol Myers Squibb by 297.0% during 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 during the period. GQG Partners LLC raised its holdings 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 acquiring 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% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after acquiring an additional 10,195,775 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Bristol Myers Squibb by 428.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after purchasing an additional 9,171,098 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Truist Financial set a $65.00 price target on Bristol Myers Squibb in a report on Wednesday, December 3rd. Cantor Fitzgerald reissued a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Finally, Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.55.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY opened at $50.59 on Wednesday. The business’s 50-day moving average price is $46.47 and its two-hundred day moving average price is $46.83. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33. The company has a market capitalization of $102.99 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 7.90 and a beta of 0.29.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were paid a $0.62 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.9%. Bristol Myers Squibb’s payout ratio is 83.78%.

Bristol Myers Squibb Company Profile

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.