Edgewood Management LLC Cuts Stock Holdings in Bristol Myers Squibb Company $BMY

by · The Cerbat Gem

Edgewood Management LLC lowered its position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 17.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,575 shares of the biopharmaceutical company’s stock after selling 10,614 shares during the period. Edgewood Management LLC’s holdings in Bristol Myers Squibb were worth $2,341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Norges Bank bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth $1,554,154,000. Wellington Management Group LLP boosted its position 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 buying an additional 17,750,938 shares during the last quarter. GQG Partners LLC increased 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 buying 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 about $624,369,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bristol Myers Squibb by 16.8% during 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 during the period. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Down 0.2%

Shares of Bristol Myers Squibb stock opened at $49.18 on Friday. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The company’s fifty day simple moving average is $45.59 and its 200-day simple moving average is $46.63. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market capitalization of $100.11 billion, a PE ratio of 19.83, a P/E/G ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.Bristol Myers Squibb’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is presently 83.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BMY shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday. Scotiabank began coverage on shares of Bristol Myers Squibb in a report on Thursday, November 13th. They issued a “sector perform” rating and a $45.00 target price on the stock. Dbs Bank upgraded shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 17th. Four investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $54.42.

Get Our Latest Report on BMY

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Company Profile

(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.

Further Reading

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