317,360 Bristol Myers Squibb Company $BMY Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Bristol Myers Squibb stake by 17.4%, purchasing 317,360 shares to own 2.14 million shares valued at approximately $123.5 million. Institutional investors and hedge funds collectively own 76.41% of BMY.
• Bristol Myers Squibb exceeded quarterly expectations, reporting $2.04 in EPS and $12.97 billion in revenue, while revenue grew 5.7% year over year. The company also declared a quarterly dividend of $0.63, equivalent to a 4.0% annualized yield.
• Analysts maintain a generally positive outlook, with BMY carrying a consensus “Moderate Buy” rating and an average price target of $67.06. Investors are also watching the company’s ZENBEXUS multiple-myeloma pipeline and commercial rollout for future growth.

Envestnet Asset Management Inc. lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,142,754 shares of the biopharmaceutical company's stock after purchasing an additional 317,360 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Bristol Myers Squibb worth $123,465,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BMY. State Street Corp lifted 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 acquiring an additional 7,192,724 shares in the last quarter. Security National Bank of SO Dak purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at about $59,000. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at $52,000. Core Capital Management & Research inc. bought a new stake in Bristol Myers Squibb during the 2nd quarter valued at $4,729,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Bristol Myers Squibb by 23.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,176,661 shares of the biopharmaceutical company's stock valued at $125,419,000 after buying an additional 410,243 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

Shares of BMY stock opened at $62.84 on Friday. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $68.64. The company has a market capitalization of $128.37 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.29 and a beta of 0.23. The company's 50-day simple moving average is $64.48 and its two-hundred day simple moving average is $60.17. 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 (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.44. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business had revenue of $12.97 billion for the quarter, compared to analysts' expectations of $11.74 billion. During the same quarter last year, the firm earned $1.46 EPS. The business'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. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.95 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. Bristol Myers Squibb's dividend payout ratio is presently 55.51%.

Insider Transactions at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 16,862 shares in the company, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BMY shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $59.00 price objective (up from $54.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Guggenheim reissued a "buy" rating and issued a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Bank of America cut their price target on Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Argus upgraded shares of Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Wednesday, August 5th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.06.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: ZENBEXUS pipeline update: Bristol Myers Squibb announced the first presentation of results from the Phase 3 EXCALIBER-RRMM trial evaluating ZENBEXUS (iberdomide) with daratumumab in relapsed or refractory multiple myeloma. The presentation could provide investors with additional evidence about the drug’s potential to support long-term growth beyond BMY’s mature products. Bristol Myers Squibb Announces First Presentation of Results for ZENBEXUS in Combination with Daratumumab
• Positive Sentiment: Higher analyst rating: Zacks Research upgraded BMY from “Hold” to “Strong Buy,” improving sentiment toward the stock and highlighting its valuation, income characteristics and operating outlook. New Strong Buy Stocks for September 24th
• Positive Sentiment: Estimates edged upward: Zacks raised its EPS forecasts for several periods, including fiscal 2027 to $6.24 from $6.23 and fiscal 2028 to $5.23 from $5.17. The revisions are small but reinforce expectations that newer medicines can help offset declines in established products.
• Positive Sentiment: Commercial rollout support: Onco360 was added to ZENBEXUS’ restricted specialty-pharmacy network, providing dispensing and clinical-support infrastructure as the multiple-myeloma treatment reaches eligible patients. Bristol Myers Squibb Adds Restricted Pharmacy Path for New Myeloma Drug

Bristol Myers Squibb 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.

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