Acadian Asset Management LLC Purchases 1,607,363 Shares of Bristol Myers Squibb Company $BMY

Acadian Asset Management LLC increased its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 958.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,775,057 shares of the biopharmaceutical company’s stock after purchasing an additional 1,607,363 shares during the period. Acadian Asset Management LLC owned approximately 0.09% of Bristol Myers Squibb worth $82,161,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. increased its stake in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 212 shares in the last quarter. Exchange Capital Management Inc. increased its position in Bristol Myers Squibb by 0.4% in the 2nd quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after acquiring an additional 220 shares in the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of Bristol Myers Squibb by 0.3% in the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after acquiring an additional 224 shares during the last quarter. Richwood Investment Advisors LLC raised its stake in shares of Bristol Myers Squibb by 1.7% in the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock worth $616,000 after acquiring an additional 225 shares during the last quarter. Finally, Lipe & Dalton lifted its position in shares of Bristol Myers Squibb by 0.4% during the first quarter. Lipe & Dalton now owns 56,999 shares of the biopharmaceutical company’s stock worth $3,476,000 after purchasing an additional 230 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BMY shares. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.23.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Bristol Myers Squibb Trading Up 0.2%

Shares of NYSE:BMY opened at $46.74 on Monday. The firm has a market cap of $95.14 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.23 and a beta of 0.33. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $63.33. The company’s fifty day simple moving average is $45.25 and its 200 day simple moving average is $46.68. 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) last released 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 firm 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 80.04% and a net margin of 10.58%.The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 83.78%.

About Bristol Myers Squibb

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.