California State Teachers Retirement System Boosts Holdings in Bristol Myers Squibb Company $BMY

Key Points

• California State Teachers Retirement System dramatically increased its Bristol Myers Squibb stake by 5,484.7% in the second quarter, holding 185.3 million shares valued at approximately $10.7 billion, or 9.07% of the company.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $66.06, although some analysts maintain neutral or hold ratings.
• Bristol Myers Squibb reported stronger-than-expected quarterly results, with $2.04 in adjusted EPS and $12.97 billion in revenue, while maintaining a quarterly dividend of $0.63 per share, representing a 3.9% yield.

California State Teachers Retirement System raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5,484.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,255,963 shares of the biopharmaceutical company's stock after purchasing an additional 181,938,762 shares during the period. California State Teachers Retirement System owned 9.07% of Bristol Myers Squibb worth $10,674,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC grew its position in Bristol Myers Squibb by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 65,046 shares of the biopharmaceutical company's stock worth $3,509,000 after buying an additional 172 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Bristol Myers Squibb by 0.8% in the 4th quarter. KCM Investment Advisors LLC now owns 20,871 shares of the biopharmaceutical company's stock valued at $1,126,000 after acquiring an additional 174 shares in the last quarter. Sandy Cove Advisors LLC boosted its position in shares of Bristol Myers Squibb by 4.7% during the 2nd quarter. Sandy Cove Advisors LLC now owns 3,932 shares of the biopharmaceutical company's stock valued at $227,000 after acquiring an additional 176 shares during the last quarter. Investment Research Partners LLC grew its holdings in shares of Bristol Myers Squibb by 1.4% during the fourth quarter. Investment Research Partners LLC now owns 13,134 shares of the biopharmaceutical company's stock worth $708,000 after purchasing an additional 179 shares in the last quarter. Finally, ESG Planning DBA Harper Investing increased its position in shares of Bristol Myers Squibb by 1.3% in the fourth quarter. ESG Planning DBA Harper Investing now owns 13,811 shares of the biopharmaceutical company's stock worth $745,000 after purchasing an additional 180 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BMY shares. Wall Street Zen raised shares of Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 27th. Jefferies Financial Group lowered shares of Bristol Myers Squibb from a "buy" rating to a "hold" rating in a report on Wednesday, August 5th. Cantor Fitzgerald restated a "neutral" rating and set a $59.00 price objective (up from $54.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Piper Sandler started coverage on shares of Bristol Myers Squibb in a report on Wednesday, August 5th. They set an "overweight" rating for the company. Finally, Weiss Ratings upgraded shares of Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.06.

Insiders Place Their Bets

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.

Bristol Myers Squibb Stock Down 3.3%

Shares of BMY opened at $64.63 on Wednesday. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $68.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The stock has a 50 day simple moving average of $63.23 and a two-hundred day simple moving average of $60.00. The firm has a market cap of $132.02 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.32 and a beta of 0.23.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.60 by $0.44. The firm had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, analysts forecast that Bristol Myers Squibb Company will post 6.95 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 55.51%.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.

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