Bristol Myers Squibb Company $BMY Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 375,643 shares of the biopharmaceutical company’s stock after selling 22,215 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Bristol Myers Squibb were worth $16,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Bristol Myers Squibb in the 3rd quarter valued at about $105,000. Nordea Investment Management AB increased its position in shares of Bristol Myers Squibb by 3.5% in the third quarter. Nordea Investment Management AB now owns 520,150 shares of the biopharmaceutical company’s stock valued at $23,219,000 after buying an additional 17,464 shares in the last quarter. Janney Capital Management LLC raised its stake in shares of Bristol Myers Squibb by 2.6% during the 3rd quarter. Janney Capital Management LLC now owns 42,069 shares of the biopharmaceutical company’s stock worth $1,897,000 after buying an additional 1,076 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Bristol Myers Squibb by 3.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,925 shares of the biopharmaceutical company’s stock valued at $3,018,000 after buying an additional 2,026 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Bristol Myers Squibb by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,259,966 shares of the biopharmaceutical company’s stock valued at $237,224,000 after acquiring an additional 114,313 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BMY shares. Bank of America raised shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $61.00 in a report on Monday, December 15th. Citigroup reaffirmed a “neutral” rating and issued a $53.00 price target (up from $45.00) on shares of Bristol Myers Squibb in a research note on Wednesday, January 7th. UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $65.00 in a report on Wednesday, January 7th. Morgan Stanley reissued an “underweight” rating and set a $37.00 target price (up previously from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 17th. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.62.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $55.78 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27. The stock’s fifty day moving average is $51.12 and its two-hundred day moving average is $47.87. The firm has a market capitalization of $113.55 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 9.25 and a beta of 0.29. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33.

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. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the firm earned $1.80 EPS. The company’s quarterly revenue 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, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be paid a $0.63 dividend. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.5%. Bristol Myers Squibb’s dividend payout ratio is currently 85.14%.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.