CMH Wealth Management LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

CMH Wealth Management LLC reduced its position in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 29.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,340 shares of the biopharmaceutical company’s stock after selling 20,961 shares during the quarter. Bristol-Myers Squibb makes up about 1.4% of CMH Wealth Management LLC’s holdings, making the stock its 28th largest position. CMH Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $3,799,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. State Street Corp increased its position in Bristol-Myers Squibb by 2.2% in the fourth quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock worth $5,901,176,000 after buying an additional 2,020,678 shares during the last quarter. Capital International Investors bought a new position in shares of Bristol-Myers Squibb in the first quarter worth $1,672,455,000. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $1,413,962,000. Primecap Management Co. CA boosted its holdings in shares of Bristol-Myers Squibb by 1.2% in the first quarter. Primecap Management Co. CA now owns 22,370,375 shares of the biopharmaceutical company’s stock worth $1,633,708,000 after acquiring an additional 255,920 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Bristol-Myers Squibb by 17.0% in the fourth quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock worth $958,504,000 after acquiring an additional 2,232,347 shares during the period. 76.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BMY shares. Atlantic Securities lifted their price objective on Bristol-Myers Squibb from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Bank of America boosted their price target on Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 6th. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, September 12th. UBS Group boosted their price target on Bristol-Myers Squibb to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, Citigroup reissued a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the transaction, the executive vice president now owns 50,476 shares of the company’s stock, valued at approximately $3,571,177. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO David V. Elkins sold 133,951 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total value of $9,550,706.30. Following the sale, the chief financial officer now directly owns 100,460 shares of the company’s stock, valued at approximately $7,162,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the completion of the sale, the executive vice president now directly owns 50,476 shares in the company, valued at $3,571,177. The disclosure for this sale can be found here. Insiders sold 233,951 shares of company stock valued at $16,654,206 in the last 90 days. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.4 %

BMY stock traded down $1.00 during midday trading on Friday, hitting $70.29. The company’s stock had a trading volume of 357,556 shares, compared to its average volume of 10,752,010. The company has a market cap of $150.09 billion, a PE ratio of 23.68, a P/E/G ratio of 1.47 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average is $72.13 and its 200-day moving average is $74.01.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. On average, equities research analysts forecast that Bristol-Myers Squibb will post 7.5 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.54 dividend. The ex-dividend date is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a yield of 3.07%. Bristol-Myers Squibb’s payout ratio is presently 71.76%.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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