The Manufacturers Life Insurance Company Increases Stock Holdings in Bristol Myers Squibb Company $BMY

The Manufacturers Life Insurance Company lifted its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 23.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,176,661 shares of the biopharmaceutical company’s stock after acquiring an additional 410,243 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bristol Myers Squibb were worth $125,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BMY. Swiss RE Ltd. purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $25,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. Davis Asset Management L.P. acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $27,000. Bayban purchased a new stake in Bristol Myers Squibb in the 4th quarter valued at approximately $31,000. Finally, Addison Advisors LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at $32,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMY. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Citigroup reiterated a “neutral” rating and set a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, July 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $59.00 price objective (up from $54.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Finally, Roth Capital began coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “buy” rating and a $75.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.33.

Bristol Myers Squibb Stock Down 0.4%

BMY opened at $63.52 on Friday. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $68.64. The business has a 50-day moving average of $63.61 and a two-hundred day moving average of $60.07. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The stock has a market capitalization of $129.76 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.30 and a beta of 0.23.

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 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 business had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $11.74 billion. During the same period last year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, July 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.51%.

Key Stories 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 Activity

In other news, SVP Phil M. Holzer sold 500 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the sale, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. The trade was a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by corporate 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.