Penn Davis Mcfarland 13F: Exits Bristol-Myers Squibb (BMY) Stake
Key Points
- Penn Davis Mcfarland sold out of its entire Bristol-Myers Squibb Company BMY position, dropping all 240,615 shares in a filing on October 23, 2026.
- Bristol-Myers Squibb Company BMY recently traded around $61.49, sitting above its 200-day moving average while major Wall Street firms adjust their price targets ahead of upcoming October 29 earnings.
- Analyst sentiment remains mixed as Leerink Partners downgraded the stock to Market Perform with a $59 target on October 5, while Piper Sandler maintains an Overweight rating and an $82 target.
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Penn Davis Mcfarland sold out of its entire stake in Bristol-Myers Squibb Company BMY, dropping all 240,615 shares in a Form 13F filing on October 23, 2026. The fund disclosed its complete exit in a regulatory filing with the SEC, wiping out its prior holding.
BMY
Bristol-Myers Squibb Company
What Changed in Penn Davis Mcfarland's Bristol-Myers Squibb Company Position
Penn Davis Mcfarland completely closed its position in Bristol-Myers Squibb Company BMY during the quarter. The fund sold out of all 240,615 shares it previously owned, reducing its stake to zero.
Other Institutional Activity in Bristol-Myers Squibb Company
Other large investors adjusted their holdings in Bristol-Myers Squibb Company BMY around the same time. Woodline Partners grew its holdings by 51,521 shares, ending with 1,120,638 shares worth about $65.6 million. Cibc Private Wealth Group trimmed its stake by 10,873 shares to hold 268,354 shares valued at roughly $15.7 million. Intech Investment Management reduced its position significantly, cutting 643,255 shares to finish with 451,521 shares worth about $26.0 million. Pictet North America Advisors opened a new position with 10,654 shares valued at $664,810, and Euro Pacific Asset Management picked up a new stake of 3,000 shares worth $202,680.
Bristol-Myers Squibb Company Stock Up 0.6%
Bristol-Myers Squibb Company BMY closed at $61.48 on October 23, 2026, and recently traded around $61.49. The stock sits about 2.8% above its 200-day moving average of $59.79, while trading roughly 10.4% below its 52-week high of $68.64.
Recent Earnings
Bristol-Myers Squibb Company BMY generated trailing-twelve-month revenue of $49.2 billion alongside $4.54 in per-share earnings. The company posts its next batch of quarterly financial results on 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 BMY pays an annual dividend of $2.52 per share, translating to a 4.0% dividend yield based on recent trading levels.
Insider Buying and Selling at Bristol-Myers Squibb Company
Company insiders completed several share sales earlier in the year. Chief Financial Officer David Vincent Elkins disposed of 30,000 shares on April 1, 2026, for a total value of about $1.85 million. Officer Phil M Holzer sold 500 shares at $67.50 apiece on August 25, 2026, totaling $33,750. Later, on September 9, 2026, officer Cristian Massacesi parted with 6,249 shares at an average price of $64.57, bringing in roughly $403,498.
Analysts Set New Price Targets
Wall Street firms updated their outlooks on Bristol-Myers Squibb Company BMY through October 2026. On September 16, 2026, Piper Sandler reiterated its Overweight rating while raising its price target to $82.00 from $75.00. Leerink Partners downgraded the stock to Market Perform on October 5, 2026, lowering its target to $59.00 from $73.00. Morgan Stanley maintained an Underweight rating and a $41.00 target on October 7, 2026. Cantor Fitzgerald kept a Neutral rating while adjusting its target down to $53.00 on October 8, 2026. Wells Fargo maintained an Equal-Weight rating on October 13, 2026, bringing its target down to $60.00 from $65.00. Overall, the stock carries a consensus buy recommendation and a mean price target of $65.42 across 24 analyst opinions.
About Bristol-Myers Squibb Company
Based in Princeton, New Jersey, Bristol-Myers Squibb Company BMY discovers, develops, and distributes biopharmaceutical products for oncology, hematology, immunology, and cardiovascular care. The healthcare company employs roughly 32,500 people worldwide.
Bottom Line
Investors will watch for upcoming financial results on October 29, 2026, to gauge how the drug maker's revenue and profit margins are holding up. Future institutional filings will show whether other major funds follow Penn Davis Mcfarland in reducing exposure to the stock.
Related Filing Alerts
Source: Penn Davis Mcfarland'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