Cullinan Associates Inc. Sells 8,775 Shares of Bristol Myers Squibb Company $BMY

Cullinan Associates Inc. trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 17.2% during the first quarter, HoldingsChannel reports. The firm owned 42,219 shares of the biopharmaceutical company’s stock after selling 8,775 shares during the quarter. Cullinan Associates Inc.’s holdings in Bristol Myers Squibb were worth $2,561,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $1,947,272,000. AQR Capital Management LLC increased its position in shares of Bristol Myers Squibb by 172.6% during the fourth quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company’s stock worth $1,391,485,000 after acquiring an additional 16,332,924 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Bristol Myers Squibb by 47.0% in 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 lifted its holdings in shares of 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 valued at $2,837,026,000 after purchasing an additional 6,084,046 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of Bristol Myers Squibb by 280.4% during the second quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after buying an additional 5,503,391 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

More Bristol Myers Squibb News

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

• Positive Sentiment: Bank of America lowered its price target slightly to $66 from $67 but kept a Buy rating, signaling continued upside potential for Bristol Myers Squibb. Benzinga
• Positive Sentiment: Bristol Myers Squibb’s addition to defensive and value-defensive Russell indices could broaden demand from index-tracking and conservative institutional investors. Yahoo Finance
• Positive Sentiment: The company’s QUILS lung cancer detection program is expanding into new states, reinforcing its reputation in oncology and public-health initiatives. Yahoo Finance

Bristol Myers Squibb Price Performance

BMY stock traded down $0.41 during midday trading on Friday, reaching $57.53. The company had a trading volume of 11,202,444 shares, compared to its average volume of 12,071,738. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.42 and a quick ratio of 1.28. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $62.89. The company has a market capitalization of $117.49 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.16 and a beta of 0.23. The stock has a 50 day moving average price of $56.83 and a 200-day moving average price of $57.62.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $11.49 billion during the quarter, compared to analysts’ expectations of $10.93 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Equities research analysts expect that Bristol Myers Squibb Company will post 6.32 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, July 2nd. Bristol Myers Squibb’s dividend payout ratio is presently 70.79%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMY. Guggenheim reaffirmed a “buy” rating and issued a $72.00 target price on shares of Bristol Myers Squibb in a research report on Wednesday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $54.00 price target on shares of Bristol Myers Squibb in a research report on Monday, July 6th. HSBC upped their target price on shares of Bristol Myers Squibb from $53.00 to $60.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. Finally, UBS Group reiterated a “buy” rating on shares of Bristol Myers Squibb in a report on Thursday, May 28th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb has a consensus rating of “Hold” and an average target price of $61.25.

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.