Intech Investment Management Reduces $37M in Bristol-Myers Squibb Company ($BMY)
Intech Investment Management has cut its holdings in Bristol-Myers Squibb by over 58%, according to its latest SEC filing.
Key Points
- Intech Investment Management reduced its stake in Bristol-Myers Squibb by 58.76%, selling 643,255 shares to hold 451,521 shares worth $25.8 million.
- Bristol-Myers Squibb trades at $57.13 with a market cap of $116.66 billion and a forward P/E of 9.27, offering a dividend yield of 4.41%.
- Insider activity includes sales by EVP Wendy Short Bartie, while analysts maintain mixed ratings with targets ranging from $54 to $75.
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Intech Investment Management has significantly reduced its position in Bristol-Myers Squibb Company (NYSE: BMY). According to its latest 13F filing with the SEC, Intech slashed its holdings by 58.76% during the reporting period, selling 643,255 shares. This reduction leaves the fund with 451,521 shares valued at approximately $25.8 million.
What Changed in Intech Investment Management's Bristol-Myers Squibb Position
Intech Investment Management's recent filing shows a substantial cut in its Bristol-Myers Squibb stake. Previously holding 1,094,776 shares, the fund now has 451,521 shares, following a reduction of 643,255 shares. This move reflects a 58.76% decrease in its position.
Other Institutional Activity in Bristol-Myers Squibb
Other institutional investors have also adjusted their positions in Bristol-Myers Squibb. BlackRock, Inc. trimmed its holdings by 5,142,518 shares, ending with 171,682,888 shares worth about $10.41 billion. Meanwhile, Vanguard Capital Management LLC substantially increased its stake by 132,320,240 shares to hold the same amount, valued at approximately $8.03 billion. State Street Corp added 584,476 shares, bringing its total to 98,564,914 shares valued at $5.98 billion. JPMorgan Chase & Co saw a notable increase of 17,107,541 shares, now holding 92,475,194 shares worth $5.52 billion.
Bristol-Myers Squibb Company Stock Down 13.5%
Shares of Bristol-Myers Squibb (NYSE: BMY) traded around $57.13. The company boasts a market cap of $116.66 billion, with a P/E ratio of 16.00 and a forward P/E of 9.27. Its beta is 0.238, indicating lower volatility compared to the broader market. The stock's 52-week range is between $42.52 and $62.89, with a 50-day moving average of $57.65 and a 200-day moving average of $53.42.
$BMY stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Bristol-Myers Squibb reported revenue of $48.48 billion, reflecting a growth rate of 2.6%. The company's net margin stands at 15.01%, with a return on equity of 38.73%. Earnings per share were $3.57. The next earnings report is expected on July 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
Analyst view held steady after the report.
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EPS & revenue
EPS beat estimates by 10.4%. Revenue beat estimates by 4.3%.
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Profit surprise
EBITDA missed by 13 percent. Operating income missed by 14 percent.
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Pre-earnings setup
Expectations were about average.
- Analyst signal
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Earnings quality
Gross margin up 4.7 points. Operating margin down 3.0 points. Positive free cash flow.
Earnings Call Summary
Bristol delivered a solid first quarter with revenue of 11.5 billion dollars, up 1 percent year over year, and earnings per share of 1.58 dollars, beating Wall Street by 10 percent. The growth portfolio grew 9 percent, led by strong performances from Eliquis at 4.1 billion dollars and Breyanzi up 53 percent. Management highlighted progress across pipeline programs including positive data for Pumitamig and upcoming late-year readouts for Factor XI inhibitor Milvexian and Cobenfy in Alzheimer's disease psychosis.
Guidance Bristol reaffirmed its 2026 financial targets and said the company is tracking toward the upper end of guidance. The management team noted strong momentum in the growth portfolio and multiple clinical readouts expected in the second half of the year, including Milvexian in atrial fibrillation and Cobenfy in Alzheimer's psychosis.
Underwhelming report. Mixed results that may lead to slightly lower expectations.
Dividend
Bristol-Myers Squibb offers an annual dividend rate of $2.52, yielding 4.41%. The dividend payout ratio is 70.03%, providing a steady income stream for investors.
Insider Buying and Selling at Bristol-Myers Squibb Company
Recent insider activity at Bristol-Myers Squibb includes sales by Wendy Short Bartie, EVP of Corporate Affairs, who sold 8,040 shares on June 3, 2026, and 3,876 shares at an average price of $54.72 the same day. Meanwhile, Adam Lenkowsky, EVP and Chief Commercial Officer, sold 203 shares on May 1, 2026.
Analysts Set New Price Targets
On April 9, 2026, B of A Securities maintained its "buy" rating with a $67 price target. Cantor Fitzgerald kept a "hold" rating with a $54 target on April 8, while HSBC maintained a "hold" rating with a $60 target on March 17. The consensus among analysts is "hold," with an average target price of $63.08 based on 25 analyst opinions.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey. It focuses on discovering, developing, and selling medicines for serious diseases in areas like oncology, hematology, and cardiovascular health. The company, led by CEO Dr. Christopher S. Boerner, employs approximately 32,500 people worldwide.
Bottom Line
Intech Investment Management's significant reduction in its Bristol-Myers Squibb stake highlights ongoing shifts in institutional holdings. While the stock remains a staple in healthcare portfolios, investors are closely watching for updates. It's important to remember that 13F filings are backward-looking and may not reflect current positions.
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