California State Teachers Retirement System Buys 181,938,762 Shares of Bristol Myers Squibb Company $BMY

California State Teachers Retirement System grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5,484.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,255,963 shares of the biopharmaceutical company’s stock after purchasing an additional 181,938,762 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Bristol Myers Squibb worth $10,674,449,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Life Cycle Investment Partners Ltd purchased a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $34,406,000. Lazard Asset Management LLC increased its position in Bristol Myers Squibb by 23.7% during the 1st quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company’s stock valued at $116,693,000 after buying an additional 368,193 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Bristol Myers Squibb by 27.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 98,665 shares of the biopharmaceutical company’s stock valued at $5,322,000 after buying an additional 21,196 shares in the last quarter. Callan Family Office LLC purchased a new position in Bristol Myers Squibb during the second quarter valued at $3,575,000. Finally, BlackRock Inc. boosted its holdings in Bristol Myers Squibb by 5.1% in the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after acquiring an additional 8,702,106 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on BMY. Argus upgraded Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, August 5th. Sanford C. Bernstein upgraded shares of Bristol Myers Squibb from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 5th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research note on Wednesday, August 5th. They set an “overweight” rating for the company. Wells Fargo & Company set a $65.00 target price on shares of Bristol Myers Squibb and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, UBS Group downgraded shares of Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 5th. One investment 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.06.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by company insiders.

Bristol Myers Squibb Trading Down 3.3%

Bristol Myers Squibb stock opened at $64.63 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $68.64. The stock has a market capitalization of $132.02 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.32 and a beta of 0.23. The business’s fifty day moving average is $63.23 and its 200 day moving average is $60.00.

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

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend 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 presently 55.51%.

Bristol Myers Squibb Company Profile

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.