Cigna Investments Inc. New Sells 398 Shares of Bristol Myers Squibb Company $BMY

by · The Markets Daily

Cigna Investments Inc. New trimmed its position in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 1.9% during the first quarter, Holdings Channel reports. The institutional investor owned 20,383 shares of the biopharmaceutical company’s stock after selling 398 shares during the quarter. Cigna Investments Inc. New’s holdings in Bristol Myers Squibb were worth $1,243,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock valued at $78,580,000 after buying an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Bristol Myers Squibb in the 4th quarter valued at $16,651,000. Avaii Wealth Management LLC boosted its position in Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock valued at $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock valued at $3,967,000 after buying an additional 869 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Bristol Myers Squibb by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company’s stock worth $33,582,000 after purchasing an additional 80,087 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

BMY opened at $47.17 on Monday. The business’s 50-day moving average price is $47.05 and its two-hundred day moving average price is $50.70. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The company has a market capitalization of $96.01 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 2.41 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $2.07 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Equities analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb’s payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Daiwa America lowered Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Citigroup dropped their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Morgan Stanley reaffirmed a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Daiwa Capital Markets downgraded Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.38.

Read Our Latest Research Report on BMY

About Bristol Myers Squibb

(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 diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer 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.

Read More

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY – Free Report).