Mengis Capital Management Inc. Decreases Position in Bristol Myers Squibb Company $BMY

Mengis Capital Management Inc. trimmed its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 16.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,434 shares of the biopharmaceutical company’s stock after selling 9,349 shares during the quarter. Mengis Capital Management Inc.’s holdings in Bristol Myers Squibb were worth $2,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Dimensional Fund Advisors LP grew its position in shares of Bristol Myers Squibb by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 18,143,672 shares of the biopharmaceutical company’s stock valued at $818,105,000 after buying an additional 1,873,618 shares during the last quarter. Claro Advisors LLC boosted its stake in Bristol Myers Squibb by 2.4% in the third quarter. Claro Advisors LLC now owns 16,543 shares of the biopharmaceutical company’s stock valued at $746,000 after acquiring an additional 384 shares in the last quarter. Level Four Advisory Services LLC increased its position in shares of Bristol Myers Squibb by 4.0% during the third quarter. Level Four Advisory Services LLC now owns 25,055 shares of the biopharmaceutical company’s stock worth $1,130,000 after purchasing an additional 968 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Bristol Myers Squibb by 76.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 484,912 shares of the biopharmaceutical company’s stock valued at $21,869,000 after purchasing an additional 209,700 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Bristol Myers Squibb by 24.0% during the 3rd quarter. Victory Capital Management Inc. now owns 4,059,651 shares of the biopharmaceutical company’s stock worth $183,090,000 after buying an additional 784,566 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BMY. HSBC reissued a “hold” rating and issued a $53.00 price objective on shares of Bristol Myers Squibb in a report on Wednesday, December 10th. Royal Bank Of Canada assumed coverage on shares of Bristol Myers Squibb in a research note on Tuesday, February 24th. They issued a “sector perform” rating and a $60.00 price objective on the stock. Truist Financial set a $65.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, December 3rd. Barclays started coverage on Bristol Myers Squibb in a research report on Thursday, February 19th. They issued an “overweight” rating and a $75.00 price target on the stock. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $40.00 target price on shares of Bristol Myers Squibb in a research note on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.71.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $62.32 on Thursday. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The company has a 50-day moving average price of $57.42 and a 200 day moving average price of $50.84. The company has a market cap of $126.91 billion, a P/E ratio of 18.06, a PEG ratio of 0.17 and a beta of 0.26. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 2.32.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 5th. The biopharmaceutical company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.39). Bristol Myers Squibb had a return on equity of 69.65% and a net margin of 14.64%.The business had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the company posted $1.67 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, January 2nd. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is presently 73.04%.

About Bristol Myers Squibb

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.