Rep. Virginia Foxx Buys Bristol-Myers Squibb (NYSE:BMY) Shares

09 Jan 2025, 15:04 by Doug Wharley · The Cerbat Gem

Representative Virginia Foxx (R-North Carolina) recently bought shares of Bristol-Myers Squibb (NYSE:BMY). In a filing disclosed on January 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Bristol-Myers Squibb stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Bristol-Myers Squibb Stock Down 0.7 %

Shares of BMY stock traded down $0.39 during mid-day trading on Thursday, hitting $56.75. The company’s stock had a trading volume of 11,995,050 shares, compared to its average volume of 9,989,513. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The stock has a market cap of $115.10 billion, a price-to-earnings ratio of -15.81, a PEG ratio of 15.20 and a beta of 0.45. The business has a 50-day moving average price of $57.39 and a 200 day moving average price of $51.30.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 EPS. Research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.37%. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BMY shares. Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.27.

Read Our Latest Stock Analysis on Bristol-Myers Squibb

Institutional Trading of Bristol-Myers Squibb

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Federated Hermes Inc. lifted its stake in shares of Bristol-Myers Squibb by 86.3% in the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after acquiring an additional 3,495,704 shares during the period. Jennison Associates LLC increased its stake in shares of Bristol-Myers Squibb by 420.1% during the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after acquiring an additional 3,425,789 shares during the period. Janus Henderson Group PLC raised its holdings in Bristol-Myers Squibb by 695.1% during the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

About Bristol-Myers Squibb

(Get 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.