CIBC Asset Management Inc Buys 196,274 Shares of Bristol Myers Squibb Company $BMY

Key Points

• CIBC Asset Management boosted its Bristol Myers Squibb stake by 68.6% in the fourth quarter, buying 196,274 additional shares and bringing its total holding to 482,466 shares worth about $26.0 million.
• Institutional ownership remains very high, with 76.41% of Bristol Myers Squibb shares held by institutional investors. Several large funds, including Vanguard, State Street, and Geode Capital, also increased their positions.
• Wall Street sentiment is mixed but generally constructive: analysts currently have a Hold consensus with a $61.31 average price target, while recent catalysts include an EU label expansion for Opdivo and an Arcus Biosciences collaboration on casdatifan.

CIBC Asset Management Inc raised its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 68.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,466 shares of the biopharmaceutical company's stock after purchasing an additional 196,274 shares during the quarter. CIBC Asset Management Inc's holdings in Bristol Myers Squibb were worth $26,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Bristol Myers Squibb by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 198,727,768 shares of the biopharmaceutical company's stock valued at $10,719,376,000 after purchasing an additional 2,743,759 shares in the last quarter. State Street Corp grew its stake in Bristol Myers Squibb by 2.0% in the third quarter. State Street Corp now owns 96,595,232 shares of the biopharmaceutical company's stock valued at $4,356,445,000 after purchasing an additional 1,855,238 shares in the last quarter. Geode Capital Management LLC grew its stake in Bristol Myers Squibb by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company's stock valued at $2,837,026,000 after purchasing an additional 6,084,046 shares in the last quarter. Norges Bank bought a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $1,947,272,000. Finally, Bank of New York Mellon Corp grew its stake in Bristol Myers Squibb by 47.0% in the fourth quarter. Bank of New York Mellon Corp now owns 24,495,875 shares of the biopharmaceutical company's stock valued at $1,321,308,000 after purchasing an additional 7,837,485 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BMY shares. Piper Sandler reaffirmed an "overweight" rating and issued a $75.00 price objective (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, February 23rd. Wells Fargo & Company reaffirmed an "outperform" rating and issued a $60.00 price objective (up from $55.00) on shares of Bristol Myers Squibb in a research report on Friday, February 6th. HSBC raised their price objective on Bristol Myers Squibb from $53.00 to $60.00 and gave the company a "hold" rating in a research report on Tuesday, March 17th. Bank of America cut 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. Finally, Citigroup reaffirmed a "neutral" rating on shares of Bristol Myers Squibb in a research report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $61.31.

Key Stories Impacting Bristol Myers Squibb

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

• Positive Sentiment: Jefferies reiterated its Buy rating on Bristol Myers Squibb, which supports the stock’s valuation case and may be helping sentiment. Jefferies Keeps Their Buy Rating on Bristol-Myers Squibb (BMY)
• Positive Sentiment: Bristol Myers said Opdivo received an EU label expansion for use with AVD in newly diagnosed advanced classical Hodgkin lymphoma, a commercial win that could lift future oncology revenue. BMY Gets Opdivo Label Expansion in the EU, Update on Camzyos
• Positive Sentiment: Arcus Biosciences announced a clinical trial collaboration and supply agreement with Bristol Myers Squibb to evaluate casdatifan in kidney cancer, adding another pipeline-related catalyst. Arcus Biosciences Announces Clinical Trial Collaboration and Supply Agreement to Evaluate Casdatifan...

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $54.89 on Thursday. The stock has a market cap of $112.09 billion, a P/E ratio of 15.42, a PEG ratio of 0.16 and a beta of 0.24. The stock has a 50 day simple moving average of $58.15 and a 200 day simple moving average of $56.45. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $62.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.16. The business had revenue of $11.49 billion during the quarter, compared to analysts' expectations of $10.93 billion. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.80 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Research analysts anticipate that Bristol Myers Squibb Company will post 6.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP David V. Elkins sold 30,000 shares of Bristol Myers Squibb stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total transaction of $1,850,100.00. Following the completion of the sale, the executive vice president directly owned 159,248 shares of the company's stock, valued at approximately $9,820,824.16. This trade represents a 15.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company's stock.

Bristol Myers Squibb Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.