Cannell & Spears LLC decreased its stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,592 shares of the biopharmaceutical company’s stock after selling 8,938 shares during the quarter. Cannell & Spears LLC’s holdings in Bristol Myers Squibb were worth $14,709,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of BMY. Brighton Jones LLC boosted its position in Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Bristol Myers Squibb by 59.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company’s stock worth $346,000 after purchasing an additional 2,786 shares in the last quarter. United Bank lifted its holdings in shares of Bristol Myers Squibb by 15.0% during the 2nd quarter. United Bank now owns 25,148 shares of the biopharmaceutical company’s stock valued at $1,164,000 after buying an additional 3,277 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter valued at approximately $221,000. Finally, Nebula Research & Development LLC acquired a new position in Bristol Myers Squibb in the second quarter worth approximately $405,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.
Bristol Myers Squibb Trading Up 0.9%
Shares of BMY stock opened at $62.05 on Friday. The firm has a market capitalization of $126.70 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $62.89. The firm’s fifty day simple moving average is $57.49 and its 200 day simple moving average is $58.03. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 2.10.
Bristol Myers Squibb Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, July 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 70.79%.
Key Bristol Myers Squibb News
Here are the key news stories impacting Bristol Myers Squibb this week:
- Positive Sentiment: Bristol Myers Squibb announced progress on a new lung cancer combination therapy, advancing the program into Phase 2. That suggests continued pipeline momentum and gives investors another potential long-term growth catalyst. Article Title
- Positive Sentiment: The company also expanded its pipeline with a first-in-human trial for BMS-986533, reinforcing the view that Bristol Myers is still investing in new drug candidates beyond its current blockbuster portfolio. Article Title
- Neutral Sentiment: Multiple previews ahead of Bristol Myers Squibb’s upcoming earnings report point to Wall Street expecting earnings growth and a possible beat, which may be supporting shares ahead of the release. Article Title
- Neutral Sentiment: An analyst note on Bristol Myers Squibb was published, but the headline indicates general commentary rather than a major new thesis change, so the market impact appears limited. Article Title
- Negative Sentiment: Broader healthcare commentary flagged some names to avoid, but Bristol Myers Squibb was not singled out; still, it reflects a mixed sentiment backdrop for the sector rather than a company-specific setback. Article Title
Analyst Ratings Changes
A number of research firms have issued reports on BMY. Bank of America reduced their target price on shares of Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Weiss Ratings cut Bristol Myers Squibb from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $54.00 price objective on shares of Bristol Myers Squibb in a report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.25.
Check Out Our Latest Report on Bristol Myers Squibb
Bristol Myers Squibb 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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