Canandaigua National Bank & Trust Co. Has $1.47 Million Position in Bristol Myers Squibb Company $BMY

Key Points

• Canandaigua National Bank & Trust Co. reduced its holding in Bristol Myers Squibb by 16.2% in Q2, now owning 31,743 shares valued at approximately $1.47 million.
• Bristol Myers Squibb reported earnings of $1.46 per share, exceeding analysts' estimates, with revenue of $12.27 billion for the quarter.
• Institutional investors collectively own 76.41% of Bristol Myers Squibb's stock, reflecting significant ownership among hedge funds and financial institutions.

Canandaigua National Bank & Trust Co. lessened its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 16.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,743 shares of the biopharmaceutical company's stock after selling 6,151 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Bristol Myers Squibb were worth $1,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates grew its position in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $31,000. Finally, Accent Capital Management LLC bought a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $33,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 0.3%

BMY opened at $46.34 on Tuesday. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $94.32 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.36 and a beta of 0.35. The company's 50 day moving average price is $47.07 and its two-hundred day moving average price is $49.98.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the firm posted $2.07 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. As a group, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMY. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Citigroup reduced their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $56.38.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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