Bank of New York Mellon Corp Cuts Stake in Bristol Myers Squibb Company $BMY

Bank of New York Mellon Corp trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY) by 20.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,658,390 shares of the biopharmaceutical company’s stock after selling 4,202,979 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of Bristol Myers Squibb worth $751,293,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in BMY. Trifecta Capital Advisors LLC acquired a new position in Bristol Myers Squibb in the second quarter valued at $25,000. Darwin Wealth Management LLC purchased a new position in Bristol Myers Squibb in the second quarter valued at approximately $25,000. Harbor Capital Advisors Inc. lifted its position in Bristol Myers Squibb by 107.2% during the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 313 shares in the last quarter. REAP Financial Group LLC grew its stake 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 worth $30,000 after buying an additional 428 shares during the period. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of Bristol Myers Squibb by 51.9% in the second quarter. DHJJ Financial Advisors Ltd. now owns 781 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 267 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $54.66 on Thursday. 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 has a market capitalization of $111.26 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.17 and a beta of 0.29. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33. The company’s 50-day simple moving average is $53.07 and its 200-day simple moving average is $48.55.

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 the consensus estimate of $11.75 billion. During the same quarter last year, the business posted $1.80 EPS. Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is 85.14%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Dbs Bank raised Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Truist Financial set a $65.00 price target on Bristol Myers Squibb in a research report on Wednesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price objective (up previously from $62.00) on shares of Bristol Myers Squibb in a research report on Wednesday. HSBC reissued a “hold” rating and set a $53.00 target price on shares of Bristol Myers Squibb in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research note on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.43.

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.