Chemung Canal Trust Co. Increases Position in Bristol Myers Squibb Company $BMY

Key Points

• Chemung Canal Trust Co. boosted its stake in Bristol Myers Squibb by 71.1% in the first quarter, bringing its holdings to 70,756 shares valued at about $4.29 million. Other institutional investors also made changes, and roughly 76.41% of BMY shares are held by institutions and hedge funds.
• Bristol Myers Squibb reported better-than-expected quarterly results, posting EPS of $1.58 versus the $1.42 consensus and revenue of $11.49 billion versus expectations of $10.93 billion. The company also reiterated FY 2026 EPS guidance of $6.05 to $6.35.
• The company announced a quarterly dividend of $0.63 per share, payable August 3, implying an annualized yield of about 4.4%. Separately, insider David V. Elkins sold 30,000 shares in April, and analysts currently have an overall Hold rating with a consensus target price of $61.31.

Chemung Canal Trust Co. increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 71.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,756 shares of the biopharmaceutical company's stock after buying an additional 29,413 shares during the period. Chemung Canal Trust Co.'s holdings in Bristol Myers Squibb were worth $4,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. waypoint wealth counsel purchased a new position in Bristol Myers Squibb during the 4th quarter valued at about $1,194,000. Life Cycle Investment Partners Ltd purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $34,406,000. Axxcess Wealth Management LLC lifted its holdings in shares of Bristol Myers Squibb by 27.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 98,665 shares of the biopharmaceutical company's stock valued at $5,322,000 after purchasing an additional 21,196 shares in the last quarter. Daytona Street Capital LLC acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $1,362,000. Finally, Pensionfund Sabic purchased a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $1,845,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

BMY stock opened at $57.45 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $62.89. The stock has a 50-day moving average price of $57.06 and a two-hundred day moving average price of $57.27. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10. The company has a market cap of $117.31 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 0.16 and a beta of 0.24.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $1.80 earnings per share. Bristol Myers Squibb's revenue for the quarter was up 2.6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, research analysts predict that Bristol Myers Squibb Company will post 6.32 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio is 70.79%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP David V. Elkins sold 30,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total value of $1,850,100.00. Following the transaction, the executive vice president directly owned 159,248 shares of the company's stock, valued at $9,820,824.16. This trade represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $72.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, April 8th. Wall Street Zen raised Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings restated a "hold (c)" rating on shares of Bristol Myers Squibb in a research report on Monday, March 23rd. Cantor Fitzgerald increased their price objective on Bristol Myers Squibb from $45.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, April 8th. Finally, Bank of America dropped their price objective on Bristol Myers Squibb from $68.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $61.31.

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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