Beese Fulmer Investment Management 13F: Cuts BMY Stake by $611K
Key Points
- Beese Fulmer Investment Management reduced its Bristol-Myers Squibb Company BMY stake by 23.8%, ending the period with 31,220 shares valued at about $1.95 million.
- The pharmaceutical firm trades recently around $61.49, sitting about 2.8% above its 200-day moving average of $59.79 and roughly 10.4% below its 52-week high of $68.64.
- Bristol-Myers Squibb Company carries a trailing twelve-month revenue of $49.19 billion alongside an earnings figure of $4.54 per share ahead of its next earnings update.
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Beese Fulmer Investment Management reduced its holdings in Bristol-Myers Squibb Company BMY by 9,793 shares, according to a Form 13F filing filed with the SEC on October 23, 2026. The reduction represents a 23.8% cut to the firm's stake during the period, leaving it with 31,220 shares valued at approximately $1.95 million based on the report. The fund previously held 41,013 shares of the pharmaceutical maker.
BMY
Bristol-Myers Squibb Company
What Changed in Beese Fulmer Investment Management's Bristol-Myers Squibb Company Position
The reported adjustment brought Beese Fulmer Investment Management's share count down from 41,013 to 31,220 shares. The net decrease of 9,793 shares reflects the 23.8% reduction reported in the fund's late October filing for the corresponding period.
Other Institutional Activity in Bristol-Myers Squibb Company
Fort Washington Investment Advisors cut its position by 588,083 shares, ending with 1,716,740 shares worth about $107.12 million. Woodline Partners grew its holdings by 51,521 shares, ending with 1,120,638 shares worth about $65.62 million. Cibc Private Wealth Group reduced its stake by 10,873 shares, leaving 268,354 shares valued at about $15.71 million.
Bristol-Myers Squibb Company Stock Up 0.6%
Bristol-Myers Squibb Company closed at $61.48 on the filing date of October 23, 2026, and recently traded at $61.49 as of October 24, 2026. That recent price sits roughly equal to the event-day close and stands about 2.8% above its 200-day moving average of $59.79. Shares remain about 10.4% below their 52-week high of $68.64 while trading well above their 52-week low of $42.52. The stock trades about 6.0% below the average analyst price target of $65.42.
Recent Earnings
Bristol-Myers Squibb Company reported trailing twelve-month revenue of $49.19 billion and earnings of $4.54 per share. The company generated a net profit margin of 18.9% and posted a return on equity of 46.6%, with year-over-year revenue growth reaching 5.7%. The next earnings update is scheduled for October 29, 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 Company pays an annual dividend rate of $2.52 per share, translating to a dividend yield of 4.0%.
Insider Buying and Selling at Bristol-Myers Squibb Company
Chief Financial Officer David Vincent Elkins disposed of 30,000 shares on April 1, 2026. Officer Phil M. Holzer sold 500 shares on August 25, 2026, at an average price of $67.50 for a total value of $33,750. Officer Cristian Massacesi parted with 6,249 shares on September 9, 2026, at an average price of $64.57 for a total value of $403,498.
Analysts Set New Price Targets
Piper Sandler reiterated an Overweight rating on September 16, 2026, with a target price of $82.00. Leerink Partners downgraded the stock to Market Perform on October 5, 2026, lowering its target to $59.00. Morgan Stanley maintained an Underweight rating on October 7, 2026, adjusting its target to $41.00. Cantor Fitzgerald maintained a Neutral rating on October 8, 2026, with a target of $53.00. Wells Fargo maintained an Equal-Weight rating on October 13, 2026, setting a target of $60.00. Wall Street analysts maintain a consensus buy recommendation with a mean price target of $65.42 across 24 analyst opinions.
About Bristol-Myers Squibb Company
Bristol-Myers Squibb Company discovers, develops, manufactures, and markets biopharmaceutical products around the world. Headquartered in Princeton, New Jersey, the healthcare enterprise focuses on treatments across oncology, hematology, immunology, cardiovascular, and neuroscience indications.
Bottom Line
Investors will look toward the upcoming earnings release on October 29, 2026, for further updates on financial performance and pipeline progress.
Related Filing Alerts
Source: Beese Fulmer Investment Management's 13F filing on $BMY (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts