Triasima Portfolio Management inc. Purchases New Stake in Bristol Myers Squibb Company $BMY

Triasima Portfolio Management inc. purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 91,290 shares of the biopharmaceutical company’s stock, valued at approximately $5,696,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after buying an additional 8,702,106 shares during the period. State Street Corp boosted its stake in shares of Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after buying an additional 7,192,724 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bristol Myers Squibb by 0.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock valued at $1,315,984,000 after buying an additional 119,690 shares during the period. Finally, Independent Franchise Partners LLP grew its holdings in shares of Bristol Myers Squibb by 1.0% during the 4th quarter. Independent Franchise Partners LLP now owns 20,828,148 shares of the biopharmaceutical company’s stock valued at $1,123,470,000 after acquiring an additional 204,797 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Bristol Myers Squibb News Roundup

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

• Positive Sentiment: Pipeline progress supports the investment case. Bristol Myers reported positive Phase 3 results for RYZ101 in advanced gastroenteropancreatic neuroendocrine tumors and ZENBEXUS (iberdomide) in relapsed or refractory multiple myeloma. The data increase confidence that newer therapies can help offset future pressure on established products. How Mixed Admilparant Results and Strong Oncology Data Will Impact Bristol Myers Squibb Investors
• Positive Sentiment: Admilparant remains commercially viable, according to UBS. Although the pulmonary-fibrosis drug produced mixed Phase 3 results, the lower dose met the primary endpoint, and UBS said the LPA1 antagonist still has a path forward. That assessment limits the downside from the trial news and preserves a potential new growth opportunity. Bristol-Myers Squibb’s Pulmonary Fibrosis Treatment Still Viable Despite Recent Mixed Phase 3 Results, UBS Says
• Positive Sentiment: Some analyst support remains constructive. Truist maintained its Buy rating on BMY, helping reinforce the view that the valuation and pipeline offer upside despite ongoing execution risks. Truist Financial Sticks to Its Buy Rating for Bristol-Myers Squibb

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMY. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Bristol Myers Squibb in a research note on Wednesday, October 7th. Daiwa Securities Group increased their price objective on Bristol Myers Squibb from $53.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Leerink Partners cut Bristol Myers Squibb from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $73.00 to $59.00 in a research report on Monday, October 5th. JPMorgan Chase & Co. boosted their target price on Bristol Myers Squibb from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $76.00 target price on shares of Bristol Myers Squibb in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $64.88.

Bristol Myers Squibb Trading Up 2.1%

NYSE:BMY opened at $60.51 on Friday. The company has a market capitalization of $123.60 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.30 and a beta of 0.19. The stock’s 50 day moving average price is $63.65 and its 200 day moving average price is $60.30. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $68.64.

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 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 net margin of 18.87% and a return on equity of 66.90%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, research analysts forecast that Bristol Myers Squibb Company will post 6.65 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb’s payout ratio is presently 55.51%.

Bristol Myers Squibb Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.