NewEdge Advisors LLC Reduces Position in Bristol Myers Squibb Company $BMY

NewEdge Advisors LLC trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY) by 6.4% in the second quarter, HoldingsChannel.com reports. The fund owned 211,586 shares of the biopharmaceutical company’s stock after selling 14,470 shares during the quarter. NewEdge Advisors LLC’s holdings in Bristol Myers Squibb were worth $12,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Life Cycle Investment Partners Ltd acquired a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $34,406,000. Lazard Asset Management LLC boosted its position in shares of Bristol Myers Squibb by 23.7% in the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company’s stock worth $116,693,000 after acquiring an additional 368,193 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in Bristol Myers Squibb by 27.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 98,665 shares of the biopharmaceutical company’s stock valued at $5,322,000 after purchasing an additional 21,196 shares during the period. Callan Family Office LLC purchased a new stake in Bristol Myers Squibb in the second quarter valued at approximately $3,575,000. Finally, BlackRock Inc. increased its position in Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BMY shares. Bank of America decreased their price target on shares of Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, July 10th. UBS Group downgraded Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a report on Wednesday, August 5th. Piper Sandler started coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued an “overweight” rating on the stock. Weiss Ratings upgraded Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

More Bristol Myers Squibb News

Here are the key news stories impacting Bristol Myers Squibb this week:

• Positive Sentiment: Promising multiple myeloma CAR-T results strengthen the pipeline. Bristol Myers said experimental therapy arlocabtagene autoleucel (arlo-cel) met the primary goal of a mid-stage trial in heavily pretreated multiple myeloma patients. The statistically significant and clinically meaningful improvement in overall response rate could support the company’s long-term oncology growth prospects. Bristol Myers’ Cancer Therapy Win Strengthens its Oncology Pipeline
• Positive Sentiment: Growth brands and pipeline progress remain supportive. An analyst review noted that Bristol Myers’ newer growth products and research pipeline are helping drive momentum, contributing to a reported 19.4% year-to-date gain before the latest weakness. BMY Gains 19.4% Year to Date: Should You Buy, Sell or Hold the Stock?
• Neutral Sentiment: Analyst stance remains cautious. Scotiabank maintained a Hold rating, suggesting the positive pipeline developments are not yet sufficient to prompt a more bullish view.
• Neutral Sentiment: Long-term psoriasis study data add information but not an immediate catalyst. Bristol Myers provided an update on an ongoing long-term psoriasis study; the available report did not identify a major change to near-term earnings expectations. Bristol-Myers Squibb’s Long-Term Psoriasis Study Brings Fresh Data for BMY Investors
• Negative Sentiment: Patent-dispute uncertainty weighs on sentiment. RBC said Cytokinetics has an advantage in its patent dispute with Bristol Myers, raising potential legal and competitive concerns. Cytokinetics Has Advantage in Bristol-Myers Squibb Patent Dispute, RBC Says
• Negative Sentiment: Downside hedging and portfolio pressure are visible. Investors purchased about 44,454 BMY put options, roughly 71% above average put volume. Analysts also continue to flag generic pressure on the legacy portfolio, while the stock recently underperformed the broader market.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $63.52 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $68.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The company has a market capitalization of $129.76 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.30 and a beta of 0.23. The firm’s fifty day moving average price is $63.61 and its 200 day moving average price is $60.07.

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

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 4.0%. Bristol Myers Squibb’s payout ratio is currently 55.51%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the transaction, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. This represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.05% of the stock is owned by corporate insiders.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.