Bristol Myers Squibb Company $BMY Shares Sold by Colrain Capital LLC

by · The Cerbat Gem

Colrain Capital LLC lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,000 shares of the biopharmaceutical company’s stock after selling 9,000 shares during the quarter. Bristol Myers Squibb comprises about 4.4% of Colrain Capital LLC’s holdings, making the stock its 9th largest position. Colrain Capital LLC’s holdings in Bristol Myers Squibb were worth $5,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cambiar Investors LLC increased its stake in shares of Bristol Myers Squibb by 0.7% during the 2nd quarter. Cambiar Investors LLC now owns 1,019,150 shares of the biopharmaceutical company’s stock valued at $47,176,000 after acquiring an additional 7,216 shares during the last quarter. Versor Investments LP acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at about $371,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Bristol Myers Squibb by 1,050.8% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,800 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 5,296 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Bristol Myers Squibb by 18.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,482 shares of the biopharmaceutical company’s stock valued at $346,000 after acquiring an additional 1,149 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position in Bristol Myers Squibb by 4.6% during the 2nd quarter. Plato Investment Management Ltd now owns 82,194 shares of the biopharmaceutical company’s stock worth $3,791,000 after purchasing an additional 3,589 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares of the company’s stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Trading Up 1.0%

BMY opened at $46.10 on Friday. The firm has a market capitalization of $93.82 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.23 and a beta of 0.33. The firm’s 50 day moving average is $45.34 and its 200-day moving average is $46.80. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54.

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

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, October 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 83.78%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Finally, Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.23.

Read Our Latest Stock Analysis on BMY

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.

See Also

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