CX Institutional Sells 208,135 Shares of Bristol Myers Squibb Company $BMY

Key Points

• CX Institutional cut its Bristol Myers Squibb stake by 79% in the third quarter, selling 208,135 shares and retaining 55,461 shares valued at approximately $3.46 million. Institutional investors collectively own 76.41% of BMY.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $67.06.
• Bristol Myers Squibb reported quarterly earnings of $2.04 per share, exceeding estimates, while revenue rose 5.7% year over year to $12.97 billion. The company also declared a quarterly dividend of $0.63 per share, representing a 4.1% annualized yield.

CX Institutional lessened its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 79.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,461 shares of the biopharmaceutical company's stock after selling 208,135 shares during the period. CX Institutional's holdings in Bristol Myers Squibb were worth $3,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Primecap Management Co. CA bought a new stake in shares of Bristol Myers Squibb during the second quarter worth approximately $1,436,115,000. Legal & General Group Plc acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at $980,862,000. BlackRock Inc. grew its holdings in Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company's stock valued at $10,393,783,000 after buying an additional 8,702,106 shares in the last quarter. State Street Corp boosted its position in shares of Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company's stock valued at $6,093,755,000 after acquiring an additional 7,192,724 shares during the period. Finally, SG Americas Securities LLC raised its stake in Bristol Myers Squibb by 153.8% in the 1st quarter. SG Americas Securities LLC now owns 8,910,032 shares of the biopharmaceutical company's stock worth $540,393,000 after purchasing an additional 5,399,407 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BMY shares. Truist Financial restated a "buy" rating and set a $70.00 target price (up from $65.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Sanford C. Bernstein upgraded shares of Bristol Myers Squibb from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 27th. Royal Bank Of Canada lifted their price objective on Bristol Myers Squibb from $60.00 to $64.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Finally, Weiss Ratings raised Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $67.06.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $61.16 on Friday. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $68.64. The stock's 50 day moving average is $64.61 and its 200-day moving average is $60.26. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $124.92 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.29 and a beta of 0.19.

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, beating analysts' consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same quarter in the previous year, the business posted $1.46 EPS. Bristol Myers Squibb's quarterly revenue was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb's payout ratio is currently 55.51%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president directly owned 16,862 shares of the company's stock, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by insiders.

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb's portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.

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