Conning Inc. Reduces Position in Bristol Myers Squibb Company $BMY

Conning Inc. decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 701,912 shares of the biopharmaceutical company’s stock after selling 14,709 shares during the quarter. Conning Inc.’s holdings in Bristol Myers Squibb were worth $31,656,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMY. Trifecta Capital Advisors LLC purchased a new stake in Bristol Myers Squibb in the second quarter worth approximately $25,000. Darwin Wealth Management LLC bought a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at $25,000. Harbor Capital Advisors Inc. grew its holdings in shares of Bristol Myers Squibb by 107.2% in the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 313 shares during the period. REAP Financial Group LLC increased its position in Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 428 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in Bristol Myers Squibb by 51.9% in the second 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 period. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

BMY opened at $56.98 on Thursday. The company has a 50 day simple moving average of $51.54 and a two-hundred day simple moving average of $48.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. The firm has a market cap of $115.99 billion, a P/E ratio of 19.25, a PEG ratio of 9.26 and a beta of 0.29. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share 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 analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. Bristol Myers Squibb’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be given a dividend of $0.63 per share. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, January 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 85.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BMY shares. UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $65.00 in a research note on Wednesday, January 7th. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 17th. Bank of America upgraded shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company raised their target price on Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Seven 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.86.

Bristol Myers Squibb Company Profile

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.