Tred Avon Family Wealth LLC Takes Position in Bristol Myers Squibb Company $BMY

Tred Avon Family Wealth LLC purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,580 shares of the biopharmaceutical company’s stock, valued at approximately $838,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Brighton Jones LLC raised its position in Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Bristol Myers Squibb by 59.4% during the second quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 2,786 shares in the last quarter. Focus Financial Network Inc. lifted its position in Bristol Myers Squibb by 18.4% in the second quarter. Focus Financial Network Inc. now owns 4,815 shares of the biopharmaceutical company’s stock valued at $223,000 after purchasing an additional 747 shares during the period. Wedmont Private Capital increased its position in Bristol Myers Squibb by 27.1% during the 2nd quarter. Wedmont Private Capital now owns 14,436 shares of the biopharmaceutical company’s stock worth $688,000 after purchasing an additional 3,074 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Bristol Myers Squibb by 61.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 888,182 shares of the biopharmaceutical company’s stock worth $41,673,000 after buying an additional 337,569 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on BMY shares. Leerink Partners lifted their price target on Bristol Myers Squibb from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group restated a “neutral” rating and set a $57.00 target price (up from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Scotiabank reiterated a “sector perform” rating and issued a $60.00 price target (up previously from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. Citigroup reiterated a “neutral” rating and set a $53.00 price target (up from $45.00) on shares of Bristol Myers Squibb in a research report on Wednesday, January 7th. Finally, UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $65.00 in a report on Wednesday, January 7th. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.86.

Bristol Myers Squibb Trading Down 2.3%

Shares of Bristol Myers Squibb stock opened at $55.30 on Friday. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. 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 business has a 50 day moving average price of $51.91 and a 200 day moving average price of $48.13. The company has a market capitalization of $112.58 billion, a P/E ratio of 18.68, a P/E/G ratio of 9.15 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter last year, the business posted $1.80 earnings per share. Bristol Myers Squibb’s revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio is 85.14%.

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.