Acadian Asset Management LLC Lowers Holdings in Bristol Myers Squibb Company $BMY

by · The Cerbat Gem

Acadian Asset Management LLC cut its holdings in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 21.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,694 shares of the biopharmaceutical company’s stock after selling 45,553 shares during the period. Acadian Asset Management LLC’s holdings in Bristol Myers Squibb were worth $10,224,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BMY. Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 297.0% in the 1st quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. GQG Partners LLC lifted its holdings in Bristol Myers Squibb by 22,647.6% in the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after purchasing an additional 11,970,598 shares in the last quarter. Nuveen LLC purchased a new position in Bristol Myers Squibb in the 1st quarter worth approximately $624,369,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bristol Myers Squibb by 16.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company’s stock worth $1,259,690,000 after purchasing an additional 3,196,919 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Bristol Myers Squibb by 7,142.8% in the 1st quarter. GAMMA Investing LLC now owns 2,420,388 shares of the biopharmaceutical company’s stock worth $147,619,000 after purchasing an additional 2,386,970 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $46.22 on Friday. The stock’s fifty day moving average is $47.08 and its 200 day moving average is $50.18. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $94.08 billion, a PE ratio of 18.64, a PEG ratio of 2.43 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is 100.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup decreased their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets cut Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.38.

Read Our Latest Research Report on Bristol Myers Squibb

About Bristol Myers Squibb

(Free Report)

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.

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