Bristol Myers Squibb Company $BMY Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd cut its Bristol Myers Squibb stake by 45.7% in the third quarter, selling 20,862 shares and retaining 24,783 shares valued at approximately $1.55 million. Institutional investors collectively own 76.41% of the company.
• Bristol Myers Squibb reported encouraging pipeline developments, including positive Phase 3 results for RYZ101 and a lower-dose success for admilparant, though the higher admilparant dose failed its endpoint and raised regulatory and efficacy concerns.
• BMY shares opened at $56.73, below the consensus analyst target of $64.88; Wells Fargo and Cantor Fitzgerald recently lowered their targets. The company also offers a quarterly dividend of $0.63, equivalent to a 4.4% annualized yield.

Perpetual Ltd reduced its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 45.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,783 shares of the biopharmaceutical company's stock after selling 20,862 shares during the quarter. Perpetual Ltd's holdings in Bristol Myers Squibb were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Montz Harcus Wealth Management LLC purchased a new position in Bristol Myers Squibb during the third quarter valued at approximately $216,000. Castleview Partners LLC increased its holdings in Bristol Myers Squibb by 6.4% during the 3rd quarter. Castleview Partners LLC now owns 88,876 shares of the biopharmaceutical company's stock worth $5,546,000 after acquiring an additional 5,350 shares during the period. Mirador Capital Partners LP lifted its stake in Bristol Myers Squibb by 3.3% in the 3rd quarter. Mirador Capital Partners LP now owns 50,389 shares of the biopharmaceutical company's stock worth $3,144,000 after purchasing an additional 1,594 shares in the last quarter. Bill Few Associates Inc. lifted its stake in Bristol Myers Squibb by 3.8% in the 3rd quarter. Bill Few Associates Inc. now owns 12,327 shares of the biopharmaceutical company's stock worth $769,000 after purchasing an additional 451 shares in the last quarter. Finally, Riversedge Advisors LLC boosted its holdings in Bristol Myers Squibb by 8.4% in the 3rd quarter. Riversedge Advisors LLC now owns 21,212 shares of the biopharmaceutical company's stock valued at $1,324,000 after purchasing an additional 1,637 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb News Summary

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

• Positive Sentiment: RayzeBio’s RYZ101 achieved a statistically significant and clinically meaningful improvement in progression-free survival in the Phase 3 ACTION-1 trial for advanced gastroenteropancreatic neuroendocrine tumors. The result supports discussions with regulators and strengthens BMY’s radiopharmaceutical oncology strategy ahead of its expected patent cliff. Bristol Myers Squibb Announces Positive Topline Results for RYZ101
• Positive Sentiment: Admilparant met the primary endpoint at the lower dose in the Phase 3 ALOFT-IPF trial for idiopathic pulmonary fibrosis, potentially adding a major respiratory growth opportunity. The company said the treatment showed clinical benefits and a favorable safety profile. Bristol Myers Lung Disease Drug Succeeds at Lower Dose
• Neutral Sentiment: Analyst sentiment remains mixed. Some coverage views BMY’s pipeline progress and roughly 38% one-year gain favorably, while others cite generic competition, future patent exposure and questions about whether its valuation is supported by current earnings. Analysts Have Conflicting Sentiments on BMY
• Negative Sentiment: The admilparant result was not a clean win: the higher tested dose failed to meet the primary endpoint while only the lower dose succeeded. Analysts described the outcome as potentially “confounding,” raising concerns about the drug’s efficacy, dosing and regulatory prospects. BMY Reports Mixed Phase III Trial Results
• Negative Sentiment: Wells Fargo lowered its BMY price target from $65 to $60 and maintained an Equal Weight rating, limiting near-term upside expectations. Investors are also looking ahead to quarterly results, with analysts expecting a single-digit percentage decline in earnings. Wells Fargo Lowers Bristol Myers Squibb Price Target

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $56.73 on Wednesday. The company has a 50-day simple moving average of $63.81 and a two-hundred day simple moving average of $60.28. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $68.64. The firm has a market cap of $115.89 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.28 and a beta of 0.19. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results 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. The company had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. Bristol Myers Squibb's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.70 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 55.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMY. Wells Fargo & Company decreased their price target on shares of Bristol Myers Squibb from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday. Citigroup restated a "neutral" rating and set a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, August 3rd. Cantor Fitzgerald decreased their target price on Bristol Myers Squibb from $59.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, October 8th. UBS Group cut Bristol Myers Squibb from a "buy" rating to a "neutral" rating in a report on Wednesday, August 5th. Finally, Guggenheim reiterated a "buy" rating and set a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average target price of $64.88.

Insider Activity at Bristol Myers Squibb

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

Bristol Myers Squibb Profile

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb's portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.

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