ProShare Advisors LLC Has $18.18 Million Stock Position in Bristol Myers Squibb Company $BMY

ProShare Advisors LLC raised its stake in Bristol Myers Squibb Company (NYSE:BMY) by 10.4% during the 2nd quarter, Holdings Channel reports. The fund owned 392,668 shares of the biopharmaceutical company’s stock after acquiring an additional 37,125 shares during the period. ProShare Advisors LLC’s holdings in Bristol Myers Squibb were worth $18,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BMY. King Luther Capital Management Corp boosted its position in shares of Bristol Myers Squibb by 115.2% in the second quarter. King Luther Capital Management Corp now owns 536,588 shares of the biopharmaceutical company’s stock valued at $24,839,000 after acquiring an additional 287,201 shares during the period. Midwest Trust Co acquired a new stake in Bristol Myers Squibb in the 2nd quarter worth about $5,671,000. Acadian Asset Management LLC boosted its holdings in Bristol Myers Squibb by 958.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,775,057 shares of the biopharmaceutical company’s stock valued at $82,161,000 after purchasing an additional 1,607,363 shares during the period. CSM Advisors LLC bought a new stake in Bristol Myers Squibb in the 2nd quarter valued at about $17,696,000. Finally, Sound View Wealth Advisors Group LLC grew its position in shares of Bristol Myers Squibb by 438.0% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 307,849 shares of the biopharmaceutical company’s stock worth $14,250,000 after purchasing an additional 250,624 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of analyst reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, October 13th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.45.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $48.70 on Wednesday. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $63.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The stock’s 50-day simple moving average is $45.28 and its 200 day simple moving average is $46.68. The firm has a market capitalization of $99.14 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly 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 the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal 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 given a $0.62 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.48 annualized dividend and a yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 83.78%.

Insider Activity at Bristol Myers Squibb

In related news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the transaction, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Profile

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.