Pictet Asset Management Holding SA Sells 73,242 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Pictet Asset Management trimmed its Bristol Myers Squibb stake by 4.9% in the first quarter, selling 73,242 shares and leaving it with about 1.43 million shares valued at roughly $86.9 million.
• Bristol Myers Squibb reported better-than-expected first-quarter results, with EPS of $1.58 versus $1.42 expected and revenue of $11.49 billion versus $10.93 billion expected.
• The company also declared a quarterly dividend of $0.63 per share, implying a 4.3% annualized yield, while analysts currently have a consensus Hold rating with an average target price of $61.31.

Pictet Asset Management Holding SA lowered its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,432,429 shares of the biopharmaceutical company's stock after selling 73,242 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Bristol Myers Squibb worth $86,868,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Swiss RE Ltd. acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its position in Bristol Myers Squibb by 73.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Bayban bought a new position in Bristol Myers Squibb in the 4th quarter valued at approximately $31,000. Finally, EQ Wealth Advisors LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $32,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

BMY stock opened at $58.46 on Tuesday. The company has a market capitalization of $119.37 billion, a P/E ratio of 16.42, a PEG ratio of 0.16 and a beta of 0.24. The company has a fifty day moving average price of $57.05 and a 200-day moving average price of $57.36. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.28 and a current ratio of 1.42. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $62.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $11.49 billion for the quarter, compared to analysts' expectations of $10.93 billion. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. Bristol Myers Squibb's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, equities analysts expect that Bristol Myers Squibb Company will post 6.32 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.3%. Bristol Myers Squibb's dividend payout ratio is presently 70.79%.

Insider Activity

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 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. The trade was a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

BMY has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Bristol Myers Squibb in a report on Monday, March 23rd. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a report on Friday, May 1st. Guggenheim restated a "buy" rating and set a $72.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday, April 8th. Bank of America lowered their target price on Bristol Myers Squibb from $68.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Finally, Wall Street Zen raised Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and an average target price of $61.31.

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.

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