Castle Rock Wealth Management LLC Reduces Stock Position in Bristol Myers Squibb Company $BMY

Castle Rock Wealth Management LLC lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 32.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,204 shares of the biopharmaceutical company’s stock after selling 15,665 shares during the period. Castle Rock Wealth Management LLC’s holdings in Bristol Myers Squibb were worth $1,919,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Primecap Management Co. CA bought a new stake in shares of Bristol Myers Squibb in the second quarter valued at approximately $1,436,115,000. Legal & General Group Plc bought a new position in Bristol Myers Squibb during the second quarter worth $980,862,000. 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 acquiring an additional 8,702,106 shares during the period. State Street Corp raised its stake in Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after purchasing an additional 7,192,724 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Bristol Myers Squibb by 153.8% in the 1st quarter. SG Americas Securities LLC now owns 8,910,032 shares of the biopharmaceutical company’s stock valued at $540,393,000 after purchasing an additional 5,399,407 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Transactions at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb 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 transaction, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is owned by corporate insiders.

Bristol Myers Squibb News Roundup

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

• Positive Sentiment: Bristol Myers reported that its ZENBEXUS (iberdomide) combination achieved superior progression-free survival versus standard of care in the Phase 3 EXCALIBER-RRMM trial for relapsed or refractory multiple myeloma. The results also showed high minimal residual disease-negative complete response rates and could support an application for accelerated FDA approval, strengthening BMY’s oncology pipeline. Bristol Myers Squibb Announces ZENBEXUS Phase 3 Results
• Positive Sentiment: J.P. Morgan reportedly assigned BMY a Buy rating, while recent commentary highlights the company’s oncology and hematology portfolio and its history of earnings surprises. These factors may support investor confidence in future growth and earnings. Bristol Myers Squibb Receives a Buy from J.P. Morgan

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock traded down $0.40 during midday trading on Friday, hitting $59.18. 9,252,673 shares of the company were exchanged, compared to its average volume of 12,002,556. The firm has a 50 day simple moving average of $64.27 and a 200-day simple moving average of $60.28. 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 firm has a market cap of $120.89 billion, a P/E ratio of 13.04, a PEG ratio of 0.28 and a beta of 0.19. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results 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. The firm had revenue of $12.97 billion for the quarter, compared to analysts’ expectations 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 revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Research analysts forecast that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be given a dividend of $0.63 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.3%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.51%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of Bristol Myers Squibb from $59.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday. Weiss Ratings raised Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Wells Fargo & Company set a $65.00 price objective on Bristol Myers Squibb and gave the company an “equal weight” rating in a research report on Friday, July 31st. Sanford C. Bernstein upgraded Bristol Myers Squibb from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 5th. Finally, UBS Group cut Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $64.96.

Bristol Myers Squibb 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.