Pallas Capital Advisors LLC Sells 14,911 Shares of Bristol Myers Squibb Company $BMY

Pallas Capital Advisors LLC lessened its stake in Bristol Myers Squibb Company (NYSE:BMY) by 16.2% in the second quarter, HoldingsChannel reports. The firm owned 77,353 shares of the biopharmaceutical company’s stock after selling 14,911 shares during the period. Pallas Capital Advisors LLC’s holdings in Bristol Myers Squibb were worth $4,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $1,947,272,000. AQR Capital Management LLC raised its position in shares of Bristol Myers Squibb by 172.6% in 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 acquiring an additional 16,332,924 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 7,837,485 shares during the last quarter. Geode Capital Management LLC grew its holdings in Bristol Myers Squibb by 13.1% during 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 during the period. Finally, Man Group plc grew its holdings in 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 valued at $345,594,000 after purchasing an additional 5,503,391 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Up 1.4%

Shares of NYSE:BMY opened at $64.71 on Tuesday. The firm has a market cap of $132.18 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.17 and a beta of 0.22. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $68.10. The company’s fifty day simple moving average is $59.75 and its 200 day simple moving average is $59.06. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The firm had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, research analysts forecast that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 2nd. Bristol Myers Squibb’s payout ratio is currently 55.51%.

Analysts Set New Price Targets

Several research firms have weighed in on BMY. Guggenheim reiterated a “buy” rating and issued a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Sanford C. Bernstein upgraded shares of Bristol Myers Squibb from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 5th. Piper Sandler assumed coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set an “overweight” rating on the stock. Weiss Ratings raised Bristol Myers Squibb from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group lowered Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.06.

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.