Engineers Gate Manager LP Decreases Stake in Bristol Myers Squibb Company $BMY

Key Points

• Engineers Gate Manager LP cut its Bristol Myers Squibb stake by 71.9% in the second quarter, selling 19,528 shares and retaining 7,620 shares valued at approximately $439,000. Institutional investors and hedge funds collectively own 76.41% of the company.
• Bristol Myers Squibb reported quarterly EPS of $2.04, exceeding estimates of $1.60, while revenue rose 5.7% year over year to $12.97 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.06.
• The company declared a quarterly dividend of $0.63 per share, equivalent to $2.52 annually and a 4.1% yield. Shares opened at $61.14, below the 50-day moving average of $64.42.

Engineers Gate Manager LP decreased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 71.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,620 shares of the biopharmaceutical company's stock after selling 19,528 shares during the period. Engineers Gate Manager LP's holdings in Bristol Myers Squibb were worth $439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company's stock worth $10,393,783,000 after acquiring an additional 8,702,106 shares during the period. State Street Corp boosted its position in Bristol Myers Squibb by 1.4% during the fourth quarter. State Street Corp now owns 97,980,438 shares of the biopharmaceutical company's stock worth $5,285,065,000 after purchasing an additional 1,385,206 shares in the last quarter. Geode Capital Management LLC boosted its position in Bristol Myers Squibb by 13.1% during the fourth quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company's stock worth $2,837,026,000 after purchasing an additional 6,084,046 shares in the last quarter. Norges Bank acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $1,947,272,000. Finally, Primecap Management Co. CA purchased a new position in shares of Bristol Myers Squibb in the second quarter valued at $1,436,115,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Down 1.8%

Shares of NYSE BMY opened at $61.14 on Thursday. The firm has a market cap of $124.90 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.30 and a beta of 0.23. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $68.64. The firm's 50 day moving average price is $64.42 and its 200 day moving average price is $60.14.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter in the prior year, the company posted $1.46 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders 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 dividend yield of 4.1%. The ex-dividend date is Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio is presently 55.51%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the transaction, the senior vice president directly owned 16,862 shares of the company's stock, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen raised Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 27th. Royal Bank Of Canada raised their target price on shares of Bristol Myers Squibb from $60.00 to $64.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Guggenheim restated a "buy" rating and set a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $82.00 price target (up from $75.00) on shares of Bristol Myers Squibb in a report on Wednesday, September 16th. Finally, Bank of America lowered their price target on shares of Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.06.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.

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