Bristol Myers Squibb Company $BMY Holdings Decreased by Conning Inc.

Key Points

• Conning Inc. reduced its Bristol Myers Squibb stake by 5.6% in the fourth quarter, selling 39,164 shares and leaving it with 662,748 shares valued at about $35.7 million.
• Bristol Myers Squibb reported better-than-expected quarterly results, posting EPS of $1.58 on revenue of $11.49 billion, both above analyst estimates.
• The company pays a quarterly dividend of $0.63, equal to a 4.4% annualized yield, while analysts currently have a consensus rating of Hold with a $61.31 price target.

Conning Inc. decreased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,748 shares of the biopharmaceutical company's stock after selling 39,164 shares during the quarter. Bristol Myers Squibb accounts for 1.2% of Conning Inc.'s portfolio, making the stock its 10th largest position. Conning Inc.'s holdings in Bristol Myers Squibb were worth $35,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BMY. Vanguard Group Inc. raised its stake in shares of Bristol Myers Squibb by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 198,727,768 shares of the biopharmaceutical company's stock worth $10,719,376,000 after acquiring an additional 2,743,759 shares in the last quarter. State Street Corp grew its holdings in shares of Bristol Myers Squibb by 2.0% during the 3rd quarter. State Street Corp now owns 96,595,232 shares of the biopharmaceutical company's stock valued at $4,356,445,000 after purchasing an additional 1,855,238 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bristol Myers Squibb by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 18,143,672 shares of the biopharmaceutical company's stock valued at $818,105,000 after purchasing an additional 1,873,618 shares during the last quarter. Legal & General Group Plc raised its position in Bristol Myers Squibb by 8.4% in the 3rd quarter. Legal & General Group Plc now owns 17,075,743 shares of the biopharmaceutical company's stock worth $770,116,000 after purchasing an additional 1,317,199 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in Bristol Myers Squibb by 0.4% in the third quarter. Pzena Investment Management LLC now owns 14,901,604 shares of the biopharmaceutical company's stock worth $672,062,000 after purchasing an additional 58,129 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock opened at $56.76 on Friday. The company's fifty day simple moving average is $58.74 and its two-hundred day simple moving average is $55.34. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $62.89. The firm has a market cap of $115.91 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.16 and a beta of 0.26. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.16. The company had revenue of $11.49 billion during the quarter, compared to analyst estimates of $10.93 billion. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. Bristol Myers Squibb's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.3 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 2nd were issued a $0.63 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $2.52 annualized dividend and a yield of 4.4%. Bristol Myers Squibb's dividend payout ratio (DPR) is 70.79%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BMY shares. Wall Street Zen upgraded shares of Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Sunday, April 19th. UBS Group reiterated a "buy" rating and issued a $70.00 price objective on shares of Bristol Myers Squibb in a report on Friday, March 6th. Morgan Stanley restated an "underweight" rating and set a $40.00 target price on shares of Bristol Myers Squibb in a report on Friday, February 6th. Bank of America reduced their price target on Bristol Myers Squibb from $68.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.31.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 30,000 shares of Bristol Myers Squibb stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total value of $1,850,100.00. Following the sale, the executive vice president directly owned 159,248 shares in the company, valued at approximately $9,820,824.16. This trade represents a 15.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company's stock.

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.

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