Bank of Nova Scotia Buys 183,478 Shares of Bristol Myers Squibb Company $BMY

Bank of Nova Scotia lifted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 52.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 532,372 shares of the biopharmaceutical company’s stock after buying an additional 183,478 shares during the quarter. Bank of Nova Scotia’s holdings in Bristol Myers Squibb were worth $24,643,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BMY. Exchange Capital Management Inc. grew its position in shares of Bristol Myers Squibb by 0.4% during the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after purchasing an additional 220 shares in the last quarter. Parsons Capital Management Inc. RI boosted its stake in Bristol Myers Squibb by 0.3% during the second quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock valued at $3,615,000 after buying an additional 224 shares during the last quarter. Richwood Investment Advisors LLC grew its holdings in Bristol Myers Squibb by 1.7% during the 2nd quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock valued at $616,000 after buying an additional 225 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Bristol Myers Squibb by 66.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 231 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Bristol Myers Squibb by 26.7% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,123 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 237 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of recent research reports. Dbs Bank raised shares of Bristol Myers Squibb to a “moderate buy” rating in a research note on Thursday, October 2nd. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Citigroup lowered their price objective on Bristol Myers Squibb from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Finally, Truist Financial set a $65.00 target price on Bristol Myers Squibb in a research report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $54.55.

Bristol Myers Squibb Stock Down 2.1%

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

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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 company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.9%. The ex-dividend date 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.