Bristol Myers Squibb Company $BMY Stock Position Raised by Legato Capital Management LLC

Key Points

• Legato Capital Management LLC boosted its Bristol Myers Squibb stake by 136.3% in the fourth quarter, ending with 99,584 shares valued at about $5.37 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 76.41% of Bristol Myers Squibb’s stock. Several other funds also added new positions or increased existing ones.
• Bristol Myers Squibb reported better-than-expected quarterly results, with EPS of $1.58 versus estimates of $1.42 and revenue of $11.49 billion. The company also paid a quarterly dividend of $0.63 per share, implying a 4.2% annual yield.

Legato Capital Management LLC lifted its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 136.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,584 shares of the biopharmaceutical company's stock after acquiring an additional 57,438 shares during the quarter. Bristol Myers Squibb makes up about 0.5% of Legato Capital Management LLC's holdings, making the stock its 29th biggest holding. Legato Capital Management LLC's holdings in Bristol Myers Squibb were worth $5,372,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its position 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 acquiring an additional 202 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $25,000. EQ Wealth Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $32,000. Garner Asset Management Corp purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $35,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 30,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $61.67, for a total transaction of $1,850,100.00. Following the transaction, the executive vice president owned 159,248 shares in the company, valued at $9,820,824.16. This represents a 15.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. Piper Sandler restated an "overweight" rating and issued a $75.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, February 23rd. Morgan Stanley reiterated an "underweight" rating and issued a $40.00 target price on shares of Bristol Myers Squibb in a research report on Friday, February 6th. UBS Group reiterated a "buy" rating and issued a $70.00 target price on shares of Bristol Myers Squibb in a research report on Friday, March 6th. Citigroup reiterated a "neutral" rating on shares of Bristol Myers Squibb in a research report on Friday, May 1st. Finally, Wells Fargo & Company reiterated an "outperform" rating and issued a $60.00 target price (up from $55.00) on shares of Bristol Myers Squibb in a research report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and a consensus price target of $61.31.

Bristol Myers Squibb Stock Down 0.1%

BMY stock opened at $59.51 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $62.89. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10. The company has a market cap of $121.51 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.17 and a beta of 0.26. The company has a 50 day moving average of $58.46 and a two-hundred day moving average of $55.86.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm earned $1.80 EPS. The company's revenue 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. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.31 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, April 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.2%. Bristol Myers Squibb's dividend payout ratio is 70.79%.

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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