Summit Securities Group LLC Sells 82,290 Shares of Bristol Myers Squibb Company $BMY

Key Points

• Summit Securities Group LLC cut its Bristol Myers Squibb stake by 96.3% in the first quarter, selling 82,290 shares and leaving it with 3,134 shares valued at about $190,000.
• Bristol Myers Squibb recently beat first-quarter earnings and revenue expectations, reporting EPS of $1.58 versus $1.42 expected and revenue of $11.49 billion versus $10.93 billion forecast.
• The company also announced a quarterly dividend of $0.63 per share, or $2.52 annually, which implies a 4.4% yield; analysts currently have a consensus Hold rating with an average price target of $61.31.

Summit Securities Group LLC reduced its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 96.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,134 shares of the biopharmaceutical company's stock after selling 82,290 shares during the period. Summit Securities Group LLC's holdings in Bristol Myers Squibb were worth $190,000 as of its most recent filing with the Securities & Exchange Commission.

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

Bristol Myers Squibb Price Performance

BMY opened at $57.89 on Friday. The business has a fifty day moving average of $56.83 and a 200 day moving average of $57.62. The stock has a market cap of $118.21 billion, a P/E ratio of 16.26, a PEG ratio of 0.16 and a beta of 0.23. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10. 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 released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.16. Bristol Myers Squibb had a return on equity of 64.87% and a net margin of 15.01%.The business had revenue of $11.49 billion for the quarter, compared to analyst estimates of $10.93 billion. During the same quarter last year, the firm posted $1.80 earnings per share. The business's revenue was up 2.6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.32 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup restated a "neutral" rating on shares of Bristol Myers Squibb in a report on Friday, May 1st. HSBC boosted their price objective on shares of Bristol Myers Squibb from $53.00 to $60.00 and gave the company a "hold" rating in a research report on Tuesday, March 17th. Cantor Fitzgerald reissued a "neutral" rating and issued a $54.00 target price on shares of Bristol Myers Squibb in a research note on Monday. Bank of America lowered their target price on shares of 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, Guggenheim reiterated a "buy" rating and set a $72.00 price target on shares of Bristol Myers Squibb in a report on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.31.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: Bristol Myers Squibb was added to the Russell 1000 Defensive and Russell 1000 Value-Defensive indexes, which could broaden support from defensive and income-focused funds and reinforce its appeal as a lower-volatility dividend stock. Is Bristol Myers Squibb’s Shift Into Value-Defensive Indices Reshaping The Investment Case For BMY?
• Positive Sentiment: The company’s QUILS lung cancer detection initiative is expanding beyond Kentucky into other high-risk states, highlighting Bristol Myers Squibb’s broader oncology focus and potential reputational benefits for its public-health efforts. Bristol Myers Squibb (BMY) Expands QUILS Lung Cancer Detection Model Beyond Kentucky

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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