Arrow Capital Pty Ltd Invests $2.72 Million in Bristol Myers Squibb Company $BMY

Arrow Capital Pty Ltd purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 58,822 shares of the biopharmaceutical company’s stock, valued at approximately $2,723,000. Bristol Myers Squibb makes up about 2.0% of Arrow Capital Pty Ltd’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC bought a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at approximately $25,000. REAP Financial Group LLC boosted its position in Bristol Myers Squibb by 202.8% in the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 428 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 231 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of Bristol Myers Squibb during the first quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of Bristol Myers Squibb by 51.9% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BMY shares. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a report on Wednesday, December 3rd. Scotiabank reaffirmed a “sector perform” rating and set a $53.00 target price (up from $45.00) on shares of Bristol Myers Squibb in a report on Thursday, December 4th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.55.

Bristol Myers Squibb Stock Down 2.1%

Shares of NYSE:BMY opened at $50.59 on Wednesday. The stock has a market cap of $102.99 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 7.90 and a beta of 0.29. The business’s 50 day moving average is $46.47 and its 200 day moving average is $46.83. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the business posted $1.80 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 3rd were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 4.9%. Bristol Myers Squibb’s payout ratio is 83.78%.

Bristol Myers Squibb Company Profile

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.