Empowered Funds LLC Cuts Stock Position in Bristol Myers Squibb Company $BMY

Empowered Funds LLC lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 38.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,513 shares of the biopharmaceutical company’s stock after selling 210,880 shares during the quarter. Empowered Funds LLC’s holdings in Bristol Myers Squibb were worth $20,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Bristol Myers Squibb in the 4th quarter valued at about $1,947,272,000. AQR Capital Management LLC grew its position in shares of Bristol Myers Squibb by 172.6% during the 4th quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company’s stock valued at $1,391,485,000 after buying an additional 16,332,924 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Bristol Myers Squibb by 47.0% during the 4th quarter. Bank of New York Mellon Corp now owns 24,495,875 shares of the biopharmaceutical company’s stock worth $1,321,308,000 after purchasing an additional 7,837,485 shares during the period. Geode Capital Management LLC increased its position in Bristol Myers Squibb by 13.1% in 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 buying an additional 6,084,046 shares during the period. Finally, Man Group plc increased its holdings in shares of Bristol Myers Squibb by 280.4% in the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after acquiring an additional 5,503,391 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

BMY stock opened at $63.65 on Wednesday. The firm has a 50 day simple moving average of $57.70 and a 200 day simple moving average of $58.17. 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 $64.96. The stock has a market cap of $129.97 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.18 and a beta of 0.23.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly 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 net margin of 15.01% and a return on equity of 64.87%. The business had revenue of $11.49 billion for the quarter, compared to the consensus estimate of $10.93 billion. During the same period in the prior year, the business posted $1.80 earnings per share. Bristol Myers Squibb’s revenue for the quarter 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. Research analysts anticipate that Bristol Myers Squibb Company will post 6.34 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.0%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 70.79%.

Wall Street Analyst Weigh In

Several analysts recently commented on BMY shares. Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Bristol Myers Squibb in a research report on Wednesday, April 8th. Weiss Ratings cut shares of Bristol Myers Squibb from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 16th. UBS Group reiterated a “buy” rating on shares of Bristol Myers Squibb in a research note on Thursday, May 28th. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.25.

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.