Bristol Myers Squibb Company $BMY Shares Sold by Conning Inc.

Key Points

• Conning Inc. reduced its Bristol Myers Squibb stake by 9% in the first quarter, selling 59,334 shares and leaving it with 603,414 shares worth about $36.6 million.
• Bristol Myers Squibb reported stronger-than-expected Q1 results, with EPS of $1.58 versus $1.42 expected and revenue of $11.49 billion, up 2.6% year over year.
• The company continues to offer a 4.4% dividend yield, and analysts remain cautious overall with a consensus Hold rating, though some firms still see upside and have Buy ratings on the stock.

Conning Inc. lowered its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 603,414 shares of the biopharmaceutical company's stock after selling 59,334 shares during the quarter. Bristol Myers Squibb makes up about 1.2% of Conning Inc.'s holdings, making the stock its 20th biggest position. Conning Inc.'s holdings in Bristol Myers Squibb were worth $36,597,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC lifted 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 period. United Bank boosted its position in Bristol Myers Squibb by 15.0% during the second quarter. United Bank now owns 25,148 shares of the biopharmaceutical company's stock worth $1,164,000 after acquiring an additional 3,277 shares during the last quarter. Marshall Wace LLP purchased a new stake in Bristol Myers Squibb in the 2nd quarter worth approximately $221,000. Finally, Nebula Research & Development LLC acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at $405,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Key Bristol Myers Squibb News

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

• Positive Sentiment: Bank of America lowered its price target slightly to $66 from $67 but kept a Buy rating, signaling continued upside potential for Bristol Myers Squibb. Benzinga
• Positive Sentiment: Bristol Myers Squibb’s addition to defensive and value-defensive Russell indices could broaden demand from index-tracking and conservative institutional investors. Yahoo Finance
• Positive Sentiment: The company’s QUILS lung cancer detection program is expanding into new states, reinforcing its reputation in oncology and public-health initiatives. Yahoo Finance

Bristol Myers Squibb Stock Down 0.7%

BMY opened at $57.53 on Friday. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $62.89. The firm has a 50 day moving average price of $56.83 and a 200 day moving average price of $57.62. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.28 and a current ratio of 1.42. The company has a market cap of $117.49 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.17 and a beta of 0.23.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.16. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. The company had revenue of $11.49 billion during the quarter, compared to the consensus estimate of $10.93 billion. During the same period in the previous year, the firm earned $1.80 earnings per share. Bristol Myers Squibb's revenue for the quarter was up 2.6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.32 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio is currently 70.79%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BMY. Wall Street Zen upgraded Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 27th. Bank of America reduced their target price on Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating on the stock in a research report on Friday. HSBC raised their price target on Bristol Myers Squibb from $53.00 to $60.00 and gave the stock a "hold" rating in a research note on Tuesday, March 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Bristol Myers Squibb in a report on Thursday, July 2nd. Finally, Citigroup reiterated a "neutral" rating on shares of Bristol Myers Squibb in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus 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.