Canandaigua National Bank & Trust Co. Buys New Position in Bristol Myers Squibb Company $BMY

Canandaigua National Bank & Trust Co. purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, HoldingsChannel reports. The firm purchased 23,502 shares of the biopharmaceutical company’s stock, valued at approximately $1,354,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Bristol Myers Squibb by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 198,727,768 shares of the biopharmaceutical company’s stock valued at $10,719,376,000 after buying an additional 2,743,759 shares in the last quarter. State Street Corp grew its position in Bristol Myers Squibb by 1.4% in 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 during the period. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 6,084,046 shares during the period. Norges Bank bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth about $1,947,272,000. Finally, AQR Capital Management LLC boosted its position in Bristol Myers Squibb by 172.6% in the fourth quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company’s stock valued at $1,391,485,000 after buying an additional 16,332,924 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Down 3.3%

NYSE:BMY opened at $63.73 on Thursday. The company has a market cap of $130.18 billion, a PE ratio of 14.04, a PEG ratio of 0.17 and a beta of 0.22. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $68.10. The stock has a 50-day simple moving average of $58.41 and a 200 day simple moving average of $58.53. 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 (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $11.74 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts expect that Bristol Myers Squibb Company will post 6.97 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on BMY shares. TD Cowen assumed coverage on Bristol Myers Squibb in a research report on Wednesday. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Argus upgraded shares of Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. Finally, Wells Fargo & Company set a $65.00 target price on shares of Bristol Myers Squibb and gave the company an “equal weight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.06.

Bristol Myers Squibb News Summary

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

• Positive Sentiment: Argus upgraded Bristol Myers Squibb (BMY) from “hold” to “buy” and set a $75 price target, implying meaningful upside from the stock’s recent level. The upgrade provides support for the investment case despite the merger speculation fading. Argus upgrade report
• Neutral Sentiment: Berenberg maintained a “hold” rating on BMY, indicating that some analysts remain cautious even after the stock reached a new 52-week high. Berenberg maintains hold rating
• Neutral Sentiment: BMY’s recent rally and 52-week-high performance have prompted investors to evaluate whether additional gains are justified by the company’s fundamentals and valuation, rather than by potential merger activity. BMY 52-week-high analysis
• Negative Sentiment: Reuters reported that a senior source denied any ongoing merger discussions between AstraZeneca and Bristol Myers Squibb. The news reverses earlier reports that had fueled expectations for a transformative deal, likely pressuring BMY as investors remove any merger premium from the shares. Reuters report denying AstraZeneca-Bristol Myers discussions

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.