Baird Financial Group Inc. Cuts Holdings in Bristol Myers Squibb Company $BMY

Baird Financial Group Inc. decreased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 12.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 411,234 shares of the biopharmaceutical company's stock after selling 56,881 shares during the period. Baird Financial Group Inc.'s holdings in Bristol Myers Squibb were worth $23,695,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Bristol Myers Squibb by 59.4% during the second quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company's stock valued at $346,000 after buying an additional 2,786 shares during the last quarter. United Bank increased its holdings in shares of Bristol Myers Squibb by 15.0% in the second quarter. United Bank now owns 25,148 shares of the biopharmaceutical company's stock worth $1,164,000 after buying an additional 3,277 shares during the period. Marshall Wace LLP bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at about $221,000. Finally, Nebula Research & Development LLC bought a new stake in Bristol Myers Squibb during the 2nd quarter valued at $405,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the sale, the senior vice president directly owned 16,862 shares of the company's stock, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.05% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BMY shares. Jefferies Financial Group lowered shares of Bristol Myers Squibb from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald restated 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. JPMorgan Chase & Co. lifted their price objective on Bristol Myers Squibb from $67.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Guggenheim reiterated a "buy" rating and set a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Finally, Wall Street Zen raised Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of "Moderate Buy" and an average price target of $66.33.

Key Stories Impacting Bristol Myers Squibb

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 Trading Down 0.4%

NYSE BMY 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 current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. The stock's fifty day moving average price is $63.61 and its 200-day moving average price is $60.07. The stock has a market cap of $129.76 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.30 and a beta of 0.23.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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 business had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same period last year, the business earned $1.46 EPS. Bristol Myers Squibb's revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio is presently 55.51%.

About Bristol Myers Squibb

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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