Baird Financial Group Inc. Sells 56,881 Shares of Bristol Myers Squibb Company $BMY

Baird Financial Group Inc. reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 12.2% in the second quarter, HoldingsChannel reports. The firm owned 411,234 shares of the biopharmaceutical company’s stock after selling 56,881 shares during the period. Baird Financial Group Inc.’s holdings in Bristol Myers Squibb were worth $23,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in Bristol Myers Squibb by 5,484.7% in the second quarter. California State Teachers Retirement System now owns 185,255,963 shares of the biopharmaceutical company’s stock valued at $10,674,449,000 after buying an additional 181,938,762 shares during the last quarter. BlackRock Inc. increased its holdings 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 valued at $10,393,783,000 after acquiring an additional 8,702,106 shares in the last quarter. State Street Corp increased its holdings in shares of Bristol Myers Squibb by 1.4% during the fourth quarter. State Street Corp now owns 97,980,438 shares of the biopharmaceutical company’s stock valued at $5,285,065,000 after acquiring an additional 1,385,206 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bristol Myers Squibb by 13.1% in the 4th 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 during the last quarter. Finally, Norges Bank acquired a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $1,947,272,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Down 0.4%

Bristol Myers Squibb stock opened at $63.52 on Friday. The firm has a market cap of $129.76 billion, a PE ratio of 13.99, a P/E/G ratio of 0.30 and a beta of 0.23. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $68.64. The stock’s 50 day simple moving average is $63.61 and its two-hundred day simple moving average is $60.07. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY) last posted 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 firm had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $11.74 billion. During the same period in the previous year, the business posted $1.46 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 55.51%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price target on shares of Bristol Myers Squibb from $60.00 to $64.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Wells Fargo & Company set a $65.00 price target on shares of Bristol Myers Squibb and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Guggenheim restated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: Promising multiple myeloma CAR-T results strengthen the pipeline. Bristol Myers said experimental therapy arlocabtagene autoleucel (arlo-cel) met the primary goal of a mid-stage trial in heavily pretreated multiple myeloma patients. The statistically significant and clinically meaningful improvement in overall response rate could support the company’s long-term oncology growth prospects. Bristol Myers’ Cancer Therapy Win Strengthens its Oncology Pipeline
• Positive Sentiment: Growth brands and pipeline progress remain supportive. An analyst review noted that Bristol Myers’ newer growth products and research pipeline are helping drive momentum, contributing to a reported 19.4% year-to-date gain before the latest weakness. BMY Gains 19.4% Year to Date: Should You Buy, Sell or Hold the Stock?
• Neutral Sentiment: Analyst stance remains cautious. Scotiabank maintained a Hold rating, suggesting the positive pipeline developments are not yet sufficient to prompt a more bullish view.
• Neutral Sentiment: Long-term psoriasis study data add information but not an immediate catalyst. Bristol Myers provided an update on an ongoing long-term psoriasis study; the available report did not identify a major change to near-term earnings expectations. Bristol-Myers Squibb’s Long-Term Psoriasis Study Brings Fresh Data for BMY Investors
• Negative Sentiment: Patent-dispute uncertainty weighs on sentiment. RBC said Cytokinetics has an advantage in its patent dispute with Bristol Myers, raising potential legal and competitive concerns. Cytokinetics Has Advantage in Bristol-Myers Squibb Patent Dispute, RBC Says
• Negative Sentiment: Downside hedging and portfolio pressure are visible. Investors purchased about 44,454 BMY put options, roughly 71% above average put volume. Analysts also continue to flag generic pressure on the legacy portfolio, while the stock recently underperformed the broader market.

Insider Buying and Selling at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction that occurred 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 directly owned 16,862 shares in the company, valued at $1,138,185. The trade was a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by company insiders.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.