KLP Kapitalforvaltning AS Raises Stock Holdings in Bristol Myers Squibb Company $BMY

KLP Kapitalforvaltning AS boosted its position in Bristol Myers Squibb Company (NYSE:BMY) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,527,558 shares of the biopharmaceutical company’s stock after purchasing an additional 94,500 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Bristol Myers Squibb were worth $68,893,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Trifecta Capital Advisors LLC bought a new position in shares of Bristol Myers Squibb in the 2nd quarter worth about $25,000. Darwin Wealth Management LLC purchased a new stake in Bristol Myers Squibb in the second quarter worth about $25,000. Harbor Capital Advisors Inc. grew its holdings in Bristol Myers Squibb by 107.2% in the third quarter. Harbor Capital Advisors Inc. now owns 605 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 313 shares during the period. REAP Financial Group LLC increased its stake in shares of Bristol Myers Squibb by 202.8% during the second quarter. REAP Financial Group LLC now owns 639 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 428 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Bristol Myers Squibb by 66.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 231 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Up 2.6%

Shares of NYSE:BMY opened at $54.45 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $63.33. The company has a market cap of $110.84 billion, a P/E ratio of 18.39, a PEG ratio of 8.82 and a beta of 0.29. The stock’s fifty day moving average price is $50.24 and its 200-day moving average price is $47.61.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.6%. Bristol Myers Squibb’s payout ratio is 85.14%.

Analyst Ratings Changes

BMY has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, November 24th. Wells Fargo & Company boosted their target price on Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating and set a $37.00 price target (up from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and a consensus price target of $54.62.

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.