Bank of Nova Scotia Sells 50,416 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Bank of Nova Scotia cut its Bristol Myers Squibb position by 6.3% in the first quarter, selling 50,416 shares and leaving it with 752,756 shares worth about $45.7 million.
• Bristol Myers Squibb reported better-than-expected Q1 earnings, posting $1.58 EPS versus $1.42 expected and revenue of $11.49 billion, up 2.6% year over year. The company also guided FY2026 EPS to 6.05–6.35.
• The company announced a quarterly dividend of $0.63 per share, payable August 3, implying a 4.1% annualized yield. Analyst sentiment remains mixed overall, with a consensus rating of Hold and an average price target of $61.25.

Bank of Nova Scotia decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 752,756 shares of the biopharmaceutical company's stock after selling 50,416 shares during the quarter. Bank of Nova Scotia's holdings in Bristol Myers Squibb were worth $45,655,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swiss RE Ltd. purchased a new stake in Bristol Myers Squibb in the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Bristol Myers Squibb by 73.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at about $25,000. Bayban purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $31,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $32,000. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Up 0.9%

BMY stock opened at $62.05 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.42 and a quick ratio of 1.28. The firm's fifty day simple moving average is $57.49 and its 200-day simple moving average is $58.03. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $62.89. The company has a market capitalization of $126.70 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The company had revenue of $11.49 billion for the quarter, compared to the consensus estimate of $10.93 billion. During the same period last year, the firm earned $1.80 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.34 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio is currently 70.79%.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: Bristol Myers Squibb announced progress on a new lung cancer combination therapy, advancing the program into Phase 2. That suggests continued pipeline momentum and gives investors another potential long-term growth catalyst. Article Title
• Positive Sentiment: The company also expanded its pipeline with a first-in-human trial for BMS-986533, reinforcing the view that Bristol Myers is still investing in new drug candidates beyond its current blockbuster portfolio. Article Title
• Neutral Sentiment: Multiple previews ahead of Bristol Myers Squibb’s upcoming earnings report point to Wall Street expecting earnings growth and a possible beat, which may be supporting shares ahead of the release. Article Title
• Neutral Sentiment: An analyst note on Bristol Myers Squibb was published, but the headline indicates general commentary rather than a major new thesis change, so the market impact appears limited. Article Title
• Negative Sentiment: Broader healthcare commentary flagged some names to avoid, but Bristol Myers Squibb was not singled out; still, it reflects a mixed sentiment backdrop for the sector rather than a company-specific setback. Article Title

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $72.00 price target on shares of Bristol Myers Squibb in a report on Wednesday, April 8th. Bank of America dropped their price objective on Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $54.00 target price on shares of Bristol Myers Squibb in a research note on Monday, July 6th. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 27th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $61.25.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.