230,245 Bristol Myers Squibb Company $BMY Shares Sold by Artemis Investment Management LLP

Key Points

• Artemis Investment Management reduced its Bristol Myers Squibb position by 7.5%, selling 230,245 shares and retaining 2.82 million shares valued at approximately $176.2 million.
• Institutional investors own 76.41% of BMY, with major firms including BlackRock and State Street increasing their positions during the period.
• Analysts maintain a consensus “Moderate Buy” rating with a $66.72 target price, while BMY recently traded at $59.41 and offers a 4.2% dividend yield.

Artemis Investment Management LLP cut its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,823,235 shares of the biopharmaceutical company's stock after selling 230,245 shares during the quarter. Bristol Myers Squibb comprises about 1.4% of Artemis Investment Management LLP's portfolio, making the stock its 14th biggest holding. Artemis Investment Management LLP owned approximately 0.14% of Bristol Myers Squibb worth $176,170,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA bought a new position in Bristol Myers Squibb during the second quarter worth about $1,436,115,000. Legal & General Group Plc bought a new stake in Bristol Myers Squibb in the 2nd quarter valued at about $980,862,000. BlackRock Inc. grew its position in shares of Bristol Myers Squibb by 5.1% during the 2nd 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 in the last quarter. State Street Corp raised its position in shares of Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company's stock valued at $6,093,755,000 after buying an additional 7,192,724 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Bristol Myers Squibb by 153.8% in the first quarter. SG Americas Securities LLC now owns 8,910,032 shares of the biopharmaceutical company's stock valued at $540,393,000 after buying an additional 5,399,407 shares during the period. Institutional investors own 76.41% of the company's stock.

Insider Transactions at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the transaction, the senior vice president 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 Securities & Exchange Commission, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on BMY. BMO Capital Markets restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. Zacks Research upgraded Bristol Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 23rd. Weiss Ratings raised Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $63.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday, September 23rd. Finally, Sanford C. Bernstein raised shares of Bristol Myers Squibb from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 5th. Two research 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.72.

Bristol Myers Squibb Price Performance

Shares of BMY stock traded down $0.28 on Thursday, hitting $59.41. 3,481,988 shares of the company's stock were exchanged, compared to its average volume of 11,964,922. The company has a 50 day moving average of $64.38 and a 200 day moving average of $60.27. The stock has a market cap of $121.37 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.28 and a beta of 0.19. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $68.64.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) 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 for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities research analysts predict that Bristol Myers Squibb Company will post 6.95 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed 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. This represents a $2.52 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio is currently 55.51%.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: Positive Phase 3 Zenbexustm data: Bristol Myers Squibb reported that Zenbexus (iberdomide), combined with daratumumab and dexamethasone, delivered superior progression-free survival versus standard of care in relapsed and refractory multiple myeloma. The result strengthens BMY’s pipeline and could support a future growth driver in a competitive market. Bristol Myers Squibb Announces Zenbexus Phase 3 Results
• Positive Sentiment: Growth from newer medicines: Reblozyl’s strong sales and additional indications may help offset declines from older products. BMY also secured a Camzyos label expansion, potentially broadening the drug’s commercial opportunity. Reblozyl Growth Outlook
• Neutral Sentiment: Sotyktu adoption is developing unevenly: Rheumatologists are increasingly using the oral TYK2 inhibitor for psoriatic arthritis and recognize its differentiation, but limited experience, access hurdles and questions about joint efficacy are restraining its launch momentum. Sotyktu Psoriatic Arthritis Adoption
• Negative Sentiment: Analyst price-target reduction: Cantor Fitzgerald lowered its BMY target from $59 to $53 and maintained a neutral rating, signaling limited near-term upside in its view.
• Negative Sentiment: Patent-cliff concerns remain: Analysts continue to highlight the risk that patent expirations and declining legacy-drug sales could pressure revenue, increasing the importance of successful launches and pipeline development. Bristol Myers Squibb Patent Cliff Analysis

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.

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