Farmers & Merchants Investments Inc. sell 45,176 shares of Bristol-Myers Squibb (NYSE:BMY)

VaselineSeptember 7, 2024

0 3 minutes read

Farmers & Merchants Investments Inc. cut its position in Bristol-Myers Squibb (NYSE:BMY – Free Report ) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,413 shares of the biopharmaceutical company’s stock after selling 45,176 shares during the quarter. Holdings held by Farmers & Merchants Investments Inc. holdings in Bristol-Myers Squibb were worth $4,253,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BMY. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. LGT Financial Advisors LLC grew its position in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the second quarter valued at $39,000. Finally, Fairman Group LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $42,000. 76.41% of the shares are currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb stock fell 2.2%

NYSE:BMY opened at $48.71 on Friday. The firm has a market cap of $98.74 billion, a P/E ratio of -15.71, a P/E/G ratio of 12.92 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02, and a current ratio of 1.16. The firm has a 50 day simple moving average of $45.95 and a two hundred day simple moving average of $46.60. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.42.

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Bristol-Myers Squibb (NYSE:BMY – Get Your Free Report ) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue for the quarter was up 8.7% year over year. In the same period last year, the business posted earnings of $1.75 per share. analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents an annualized dividend of $2.40 and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts recently weighed in on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays boosted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.67.

Read our latest report on Bristol-Myers Squibb

Bristol-Myers Squibb profile

(Free report)

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. The company’s products include Eliquis for reducing the risk of stroke/systemic embolism in non-valvular atrial fibrillation and for the treatment of DVT/PE; Opdivo for various anticancer 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.