Canandaigua National Bank & Trust Co. Takes Position in Bristol Myers Squibb Company $BMY

Key Points

• Canandaigua National Bank & Trust acquired 23,502 Bristol Myers Squibb shares worth approximately $1.35 million in the second quarter. Institutional investors and hedge funds collectively own 76.41% of BMY.
• BMY recently reported quarterly EPS of $2.04, beating estimates of $1.60, while revenue rose 5.7% year over year to $12.97 billion. The company also pays a quarterly dividend of $0.63 per share, representing a 4.0% yield.
• Shares have rallied near their 52-week high, but a senior source denied ongoing merger discussions between AstraZeneca and Bristol Myers Squibb. Analyst views remain mixed, with the stock holding a “Moderate Buy” consensus rating and an average price target of $66.06.

Canandaigua National Bank & Trust Co. acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,502 shares of the biopharmaceutical company's stock, valued at approximately $1,354,000.

Several other institutional investors have also recently added to or reduced their stakes in BMY. waypoint wealth counsel bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $1,194,000. Life Cycle Investment Partners Ltd acquired a new position in Bristol Myers Squibb in the fourth quarter worth approximately $34,406,000. Lazard Asset Management LLC grew its position in Bristol Myers Squibb by 23.7% in the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company's stock worth $116,693,000 after buying an additional 368,193 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Bristol Myers Squibb by 27.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 98,665 shares of the biopharmaceutical company's stock valued at $5,322,000 after acquiring an additional 21,196 shares during the last quarter. Finally, Asset One Wealth Management LLC bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth $4,075,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Key Bristol Myers Squibb News

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

• Positive Sentiment: Argus upgraded Bristol Myers Squibb (BMY) from “hold” to “buy” and set a $75 price target, implying meaningful upside from the stock’s recent level. The upgrade provides support for the investment case despite the merger speculation fading. Argus upgrade report
• Neutral Sentiment: Berenberg maintained a “hold” rating on BMY, indicating that some analysts remain cautious even after the stock reached a new 52-week high. Berenberg maintains hold rating
• Neutral Sentiment: BMY’s recent rally and 52-week-high performance have prompted investors to evaluate whether additional gains are justified by the company’s fundamentals and valuation, rather than by potential merger activity. BMY 52-week-high analysis
• Negative Sentiment: Reuters reported that a senior source denied any ongoing merger discussions between AstraZeneca and Bristol Myers Squibb. The news reverses earlier reports that had fueled expectations for a transformative deal, likely pressuring BMY as investors remove any merger premium from the shares. Reuters report denying AstraZeneca-Bristol Myers discussions

Bristol Myers Squibb Stock Down 3.3%

BMY opened at $63.73 on Thursday. 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 company has a market capitalization of $130.18 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.17 and a beta of 0.22. The business has a 50-day moving average of $58.41 and a 200-day moving average of $58.53. Bristol Myers Squibb Company has a fifty-two week low of $42.52 and a fifty-two week high of $68.10.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced 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 company had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. Bristol Myers Squibb's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.97 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is 55.51%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Jefferies Financial Group lowered Bristol Myers Squibb from a "buy" rating to a "hold" rating in a research report on Wednesday. Raymond James Financial began coverage on Bristol Myers Squibb in a report on Wednesday. They set a "strong-buy" rating on the stock. Roth Capital assumed coverage on shares of Bristol Myers Squibb in a report on Wednesday. They issued a "buy" rating and a $75.00 target price for the company. Truist Financial restated a "buy" rating and set a $70.00 price target (up from $65.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.06.

Bristol Myers Squibb Profile

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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