Community Bank N.A. Cuts Holdings in Bristol Myers Squibb Company $BMY

Community Bank N.A. lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 4.2% during the second quarter, Holdings Channel.com reports. The fund owned 197,399 shares of the biopharmaceutical company’s stock after selling 8,633 shares during the quarter. Bristol Myers Squibb accounts for 1.2% of Community Bank N.A.’s holdings, making the stock its 20th largest holding. Community Bank N.A.’s holdings in Bristol Myers Squibb were worth $11,372,000 as of its most recent filing with the Securities and Exchange Commission.

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

Bristol Myers Squibb Stock Down 3.3%

Shares of NYSE:BMY opened at $64.63 on Wednesday. The company has a market capitalization of $132.02 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.32 and a beta of 0.23. The company has a 50 day moving average of $63.23 and a two-hundred day moving average of $60.00. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $68.64. 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 posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The business had revenue of $12.97 billion for 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 business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, analysts forecast that Bristol Myers Squibb Company will post 6.95 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Insiders Place Their Bets

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president directly owned 16,862 shares of the company’s stock, valued at $1,138,185. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $59.00 target price (up from $54.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Guggenheim reaffirmed a “buy” rating and set a $75.00 price target (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. TD Cowen began coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a “buy” rating for the company. Finally, Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.06.

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.