SVB Wealth LLC Invests $3.07 Million in Bristol Myers Squibb Company $BMY

SVB Wealth LLC acquired a new position in Bristol Myers Squibb Company (NYSE:BMY) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 66,361 shares of the biopharmaceutical company’s stock, valued at approximately $3,072,000.

Several other hedge funds and other institutional investors have also modified their holdings of BMY. New England Asset Management Inc. increased its position in Bristol Myers Squibb by 0.8% during the first quarter. New England Asset Management Inc. now owns 39,476 shares of the biopharmaceutical company’s stock worth $2,408,000 after buying an additional 305 shares during the last quarter. Commonwealth Retirement Investments LLC raised its stake in shares of Bristol Myers Squibb by 24.6% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock valued at $2,740,000 after acquiring an additional 11,690 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in Bristol Myers Squibb by 438.0% in 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 during the last quarter. Norges Bank acquired a new stake in Bristol Myers Squibb in the 2nd quarter worth approximately $1,554,154,000. Finally, Wealth Quarterback LLC boosted its position in Bristol Myers Squibb by 42.6% during the second quarter. Wealth Quarterback LLC now owns 25,443 shares of the biopharmaceutical company’s stock worth $1,178,000 after purchasing an additional 7,603 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BMY shares. The Goldman Sachs Group restated a “neutral” rating and issued a $57.00 price objective (up from $51.00) on shares of Bristol Myers Squibb in a research note on Tuesday, December 2nd. BMO Capital Markets restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 17th. Truist Financial set a $65.00 price objective on Bristol Myers Squibb in a research note on Wednesday, December 3rd. Scotiabank reaffirmed a “sector perform” rating and issued a $53.00 target price (up previously from $45.00) on shares of Bristol Myers Squibb in a report on Thursday. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.25.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $51.69 on Tuesday. The firm has a market capitalization of $105.23 billion, a PE ratio of 17.46, a PEG ratio of 7.98 and a beta of 0.29. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The business’s 50 day moving average is $46.36 and its 200-day moving average is $46.81.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, beating 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 business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period in the prior year, the company posted $1.80 earnings per share. Bristol Myers Squibb’s revenue was up 2.8% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, October 3rd. Bristol Myers Squibb’s payout ratio is 83.78%.

About Bristol Myers Squibb

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.