Douglas Lane & Associates LLC Trims Stock Position in Bristol Myers Squibb Company $BMY

Douglas Lane & Associates LLC cut its position in Bristol Myers Squibb Company (NYSE:BMY) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,502,440 shares of the biopharmaceutical company’s stock after selling 53,744 shares during the quarter. Bristol Myers Squibb accounts for 1.1% of Douglas Lane & Associates LLC’s portfolio, making the stock its 22nd biggest holding. Douglas Lane & Associates LLC’s holdings in Bristol Myers Squibb were worth $93,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Davis Asset Management L.P. purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at $27,000. Addison Advisors LLC purchased a new position in Bristol Myers Squibb in the 2nd quarter worth approximately $32,000. Bayban bought a new stake in shares of Bristol Myers Squibb in the fourth quarter worth about $31,000. Groupe la Francaise boosted its stake in shares of Bristol Myers Squibb by 562.9% during the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 501 shares in the last quarter. Finally, Kilter Group LLC purchased a new position in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb News Roundup

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

• Positive Sentiment: Bristol Myers reported a Phase 3 success for ZENBEXUS (iberdomide) combined with daratumumab and dexamethasone in relapsed or refractory multiple myeloma. The treatment delivered superior progression-free survival versus standard care and reduced the risk of disease progression or death by 51%, strengthening the company’s oncology pipeline and potential future growth. Bristol Myers Squibb Announces ZENBEXUS Phase 3 Results
• Positive Sentiment: Analysts and commentators highlighted growth from newer products, including Reblozyl, which is helping offset declines in legacy medicines. A label expansion for Camzyos could provide an additional commercial opportunity. Reblozyl Growth Outlook
• Positive Sentiment: J.P. Morgan initiated or reiterated a Buy rating on BMY, adding support to the bullish case that the company’s valuation, dividend yield and pipeline offer attractive long-term risk-reward. J.P. Morgan Buy Rating
• Neutral Sentiment: Expectations for another earnings beat are supporting sentiment, with analysts pointing to BMY’s history of exceeding estimates. However, these are forecasts rather than new company results. Bristol Myers Earnings Outlook
• Neutral Sentiment: Scotiabank maintained a Hold rating, reflecting a more balanced view of BMY’s pipeline opportunities against patent, competition and execution risks. Scotiabank Hold Rating
• Negative Sentiment: Morgan Stanley issued a Sell rating, while Cantor Fitzgerald cut its price target from $59 to $53 and assigned a Neutral rating. The actions underscore concerns about valuation, competitive pressure and the eventual impact of declining older-product sales. Morgan Stanley Sell Rating

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock traded down $0.04 during trading on Friday, hitting $59.53. 3,518,427 shares of the company’s stock were exchanged, compared to its average volume of 11,971,028. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $68.64. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. The stock has a market capitalization of $121.61 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.28 and a beta of 0.19. The business has a 50-day simple moving average of $64.27 and a 200-day simple moving average of $60.28.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.60 by $0.44. The business had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. 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 year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.2%. Bristol Myers Squibb’s dividend payout ratio is presently 55.51%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BMY. Jefferies Financial Group cut Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Morgan Stanley reissued an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Bristol Myers Squibb in a research note on Wednesday. Argus upgraded shares of Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, August 5th. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.72.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.