King Luther Capital Management Corp Has $28.66 Million Stock Position in Bristol Myers Squibb Company $BMY

King Luther Capital Management Corp increased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 2.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 531,286 shares of the biopharmaceutical company’s stock after buying an additional 13,300 shares during the period. King Luther Capital Management Corp’s holdings in Bristol Myers Squibb were worth $28,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Steel Grove Capital Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 15.6% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 32,708 shares of the biopharmaceutical company’s stock worth $1,764,000 after acquiring an additional 4,410 shares during the period. Syverson Strege & Co acquired a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $266,000. Flputnam Investment Management Co. lifted its stake in shares of Bristol Myers Squibb by 9.3% in the fourth quarter. Flputnam Investment Management Co. now owns 203,601 shares of the biopharmaceutical company’s stock worth $10,982,000 after acquiring an additional 17,300 shares during the period. Poinciana Advisors Group LLC acquired a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $606,000. Finally, Integrity Alliance LLC. lifted its stake in shares of Bristol Myers Squibb by 314.0% in the fourth quarter. Integrity Alliance LLC. now owns 37,376 shares of the biopharmaceutical company’s stock worth $2,016,000 after acquiring an additional 28,348 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company reissued an “outperform” rating and issued a $60.00 price target (up from $55.00) on shares of Bristol Myers Squibb in a research note on Friday, February 6th. Cantor Fitzgerald boosted their price target on Bristol Myers Squibb from $45.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Monday, March 23rd. Piper Sandler reissued an “overweight” rating and issued a $75.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, February 23rd. Finally, Bank of America dropped their price target on Bristol Myers Squibb from $68.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.31.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total transaction of $1,850,100.00. Following the completion of the sale, the executive vice president owned 159,248 shares in the company, valued at $9,820,824.16. The trade was a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $57.63 on Thursday. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $62.89. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.28 and a current ratio of 1.42. The business’s 50 day moving average price is $58.42 and its two-hundred day moving average price is $56.18. The firm has a market cap of $117.68 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 0.17 and a beta of 0.26.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.42 by $0.16. The firm had revenue of $11.49 billion during the quarter, compared to the consensus estimate of $10.93 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.31 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.4%. Bristol Myers Squibb’s payout ratio is currently 70.79%.

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.