Triasima Portfolio Management inc. Purchases New Stake in Bristol Myers Squibb Company $BMY

Key Points

• Triasima Portfolio Management purchased 91,290 Bristol Myers Squibb shares worth approximately $5.7 million, while institutional investors collectively own 76.41% of the company.
• Analyst sentiment is mixed: BMY has an overall “Hold” consensus rating with a $64.88 average price target, ranging from Morgan Stanley’s $41 target to Truist Financial’s $70 target.
• Bristol Myers Squibb reported quarterly EPS of $2.04, beating estimates, and revenue of $12.97 billion, up 5.7% year over year. The company also declared a quarterly dividend of $0.63 per share, representing a 4.2% annualized yield.

Triasima Portfolio Management inc. purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,290 shares of the biopharmaceutical company's stock, valued at approximately $5,696,000.

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

Insider Buying and Selling at Bristol Myers Squibb

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on BMY shares. Morgan Stanley reiterated an "underweight" rating and issued a $41.00 price target (up from $40.00) on shares of Bristol Myers Squibb in a research report on Wednesday, October 7th. TD Cowen assumed coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a "buy" rating on the stock. HSBC restated a "hold" rating and set a $65.00 price objective (up from $60.00) on shares of Bristol Myers Squibb in a report on Thursday, September 10th. Daiwa Securities Group upped their price objective on shares of Bristol Myers Squibb from $53.00 to $66.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Finally, Truist Financial reaffirmed a "buy" rating and set a $70.00 price objective (up from $65.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $64.88.

Bristol Myers Squibb Trading Up 2.1%

Bristol Myers Squibb stock opened at $60.51 on Friday. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $68.64. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. The firm has a market capitalization of $123.60 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.30 and a beta of 0.19. The company has a 50 day moving average price of $63.65 and a 200 day moving average price of $60.30.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.74 billion. During the same period in the previous year, the business earned $1.46 EPS. The company's 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. Research analysts forecast that Bristol Myers Squibb Company will post 6.65 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.2%. Bristol Myers Squibb's payout ratio is currently 55.51%.

Trending Headlines about Bristol Myers Squibb

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

• Positive Sentiment: Pipeline progress supports the investment case. Bristol Myers reported positive Phase 3 results for RYZ101 in advanced gastroenteropancreatic neuroendocrine tumors and ZENBEXUS (iberdomide) in relapsed or refractory multiple myeloma. The data increase confidence that newer therapies can help offset future pressure on established products. How Mixed Admilparant Results and Strong Oncology Data Will Impact Bristol Myers Squibb Investors
• Positive Sentiment: Admilparant remains commercially viable, according to UBS. Although the pulmonary-fibrosis drug produced mixed Phase 3 results, the lower dose met the primary endpoint, and UBS said the LPA1 antagonist still has a path forward. That assessment limits the downside from the trial news and preserves a potential new growth opportunity. Bristol-Myers Squibb's Pulmonary Fibrosis Treatment Still Viable Despite Recent Mixed Phase 3 Results, UBS Says
• Positive Sentiment: Some analyst support remains constructive. Truist maintained its Buy rating on BMY, helping reinforce the view that the valuation and pipeline offer upside despite ongoing execution risks. Truist Financial Sticks to Its Buy Rating for Bristol-Myers Squibb

Bristol Myers Squibb Profile

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.

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.