Bristol Myers Squibb Company $BMY Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 33.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 56,293 shares of the biopharmaceutical company’s stock after selling 28,159 shares during the period. Concurrent Investment Advisors LLC’s holdings in Bristol Myers Squibb were worth $2,539,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Bristol Myers Squibb by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock worth $9,023,088,000 after purchasing an additional 3,522,202 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Bristol Myers Squibb by 16.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after acquiring an additional 10,195,775 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bristol Myers Squibb by 1.6% during the second quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock valued at $2,132,976,000 after acquiring an additional 723,459 shares during the period. Norges Bank purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $1,554,154,000. Finally, Ameriprise Financial Inc. boosted its stake in Bristol Myers Squibb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 32,579,618 shares of the biopharmaceutical company’s stock worth $1,508,099,000 after purchasing an additional 432,158 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent analyst reports. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company upped their price target on Bristol Myers Squibb from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. HSBC restated a “hold” rating and set a $53.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday, December 10th. Scotiabank reiterated a “sector perform” rating and issued a $60.00 target price (up previously from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.86.

Bristol Myers Squibb Stock Down 0.7%

BMY opened at $56.60 on Friday. The company has a market capitalization of $115.22 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 9.44 and a beta of 0.29. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The business has a 50-day moving average of $51.74 and a 200-day moving average of $48.06.

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

Bristol Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a $0.63 dividend. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, January 2nd. Bristol Myers Squibb’s dividend payout ratio is currently 85.14%.

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.