Bristol Myers Squibb Company $BMY Shares Sold by Viking Fund Management LLC

Key Points

• Viking Fund Management reduced its Bristol Myers Squibb stake by 15.8%, selling 70,000 shares and retaining 373,000 shares worth approximately $23.3 million. Institutional investors collectively own 76.41% of BMY.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $64.88, after Leerink Partners downgraded it to market perform and cut its target to $59.
• Bristol Myers Squibb reported better-than-expected quarterly results, with $2.04 earnings per share and $12.97 billion in revenue, and declared a quarterly dividend of $0.63 per share, representing a 4.2% annualized yield.

Viking Fund Management LLC cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 15.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 373,000 shares of the biopharmaceutical company's stock after selling 70,000 shares during the quarter. Bristol Myers Squibb comprises about 1.9% of Viking Fund Management LLC's investment portfolio, making the stock its 8th largest position. Viking Fund Management LLC's holdings in Bristol Myers Squibb were worth $23,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BMY. B.A. Schrock Wealth Management Inc. purchased a new position in Bristol Myers Squibb during the 3rd quarter valued at about $3,995,000. Howard Financial Services LTD. lifted its holdings in shares of Bristol Myers Squibb by 12.0% in the third quarter. Howard Financial Services LTD. now owns 4,378 shares of the biopharmaceutical company's stock valued at $273,000 after purchasing an additional 470 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in shares of Bristol Myers Squibb by 5.2% in the third quarter. ZWJ Investment Counsel Inc. now owns 17,747 shares of the biopharmaceutical company's stock valued at $1,107,000 after purchasing an additional 880 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Bristol Myers Squibb by 25.6% in the third quarter. Mather Group LLC. now owns 7,187 shares of the biopharmaceutical company's stock valued at $448,000 after purchasing an additional 1,465 shares in the last quarter. Finally, West Wealth Group LLC grew its position in shares of Bristol Myers Squibb by 7.4% in the third quarter. West Wealth Group LLC now owns 6,266 shares of the biopharmaceutical company's stock valued at $391,000 after purchasing an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMY. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Monday. Leerink Partners lowered Bristol Myers Squibb from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $73.00 to $59.00 in a research note on Monday, October 5th. Weiss Ratings raised Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. Zacks Research raised Bristol Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 23rd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.88.

Bristol Myers Squibb News Summary

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

• Positive Sentiment: Pipeline progress supports long-term growth prospects. Bristol Myers reported favorable Phase 3 data for RYZ101 in advanced gastroenteropancreatic neuroendocrine tumors, including improved progression-free survival. The results could support upcoming regulatory discussions and help diversify the company beyond existing blockbuster drugs. What Could Bristol Myers Squibb Two Phase 3 Wins Change?
• Positive Sentiment: Analyst support and dividend appeal remain positives. Truist Financial maintained its Buy rating, while coverage of Bristol Myers continues to highlight its dividend and ability to replace aging blockbuster medicines. The stock’s relatively low valuation and approximately 38% one-year gain have also attracted investor attention. Truist Maintains Buy Rating
• Neutral Sentiment: Investor attention is elevated, but coverage is mixed. BMY is a trending stock on Zacks, while several analyst roundups describe divided opinions across healthcare stocks. The increased visibility may support trading interest, but it does not represent a fundamental change by itself. Bristol Myers Squibb Trending Stock
• Negative Sentiment: Clinical results included an important caveat. Reports characterized the Phase 3 results for admilparant in idiopathic pulmonary fibrosis as mixed, despite descriptions of clinical benefits and a favorable safety profile. That uncertainty may limit the immediate value investors assign to the respiratory pipeline. BMY Reports Mixed Phase III Trial Results
• Negative Sentiment: Wells Fargo reduced its valuation view. The firm cut its price target from $65 to $60 and kept an Equal Weight rating, signaling limited near-term upside and reinforcing concerns about valuation, execution, and pipeline risks. Wells Fargo Lowers BMY Price Target

Insider Activity

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

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $59.34 on Thursday. The stock's 50-day moving average is $63.72 and its 200-day moving average is $60.28. The company has a market cap of $121.22 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.28 and a beta of 0.19. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $68.64.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.44. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. During the same period in the prior year, the firm earned $1.46 EPS. The firm's quarterly 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. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.70 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, November 2nd. Stockholders of record on Friday, October 2nd will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.2%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 55.51%.

Bristol Myers Squibb Company 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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