Pallas Capital Advisors LLC Sells 14,911 Shares of Bristol Myers Squibb Company $BMY

Pallas Capital Advisors LLC lessened its position in Bristol Myers Squibb Company (NYSE:BMY) by 16.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,353 shares of the biopharmaceutical company’s stock after selling 14,911 shares during the period. Pallas Capital Advisors LLC’s holdings in Bristol Myers Squibb were worth $4,457,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Swiss RE Ltd. acquired a new position in Bristol Myers Squibb in the fourth quarter valued at about $25,000. Darwin Wealth Management LLC bought a new position in shares of Bristol Myers Squibb in the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Bristol Myers Squibb by 73.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 202 shares during the last quarter. Bayban acquired a new position in shares of Bristol Myers Squibb in the 4th quarter worth approximately $31,000. Finally, EQ Wealth Advisors LLC bought a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BMY shares. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Argus upgraded Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, August 5th. Weiss Ratings upgraded Bristol Myers Squibb from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Roth Capital began coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Guggenheim reissued a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.06.

Bristol Myers Squibb Trading Up 1.4%

BMY stock opened at $64.71 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $68.10. The company has a market cap of $132.18 billion, a P/E ratio of 14.25, a PEG ratio of 0.17 and a beta of 0.22. The business has a fifty day moving average of $59.75 and a 200-day moving average of $59.06.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.44. The business had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, equities research analysts expect that Bristol Myers Squibb Company will post 6.95 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were given a dividend of $0.63 per share. The ex-dividend date was Thursday, July 2nd. This represents a $2.52 annualized dividend and a dividend yield of 3.9%. Bristol Myers Squibb’s payout ratio is currently 55.51%.

Bristol Myers Squibb 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.