Brevan Howard Capital Management 13F: Cuts BMY Stake by $6.1M
Brevan Howard Capital Management cut its position in Bristol-Myers Squibb, decreasing its shares significantly in a recent filing.
Reviewed by automated data checks against the source filing. How we make and check alerts
Brevan Howard Capital Management sold 105,722 shares from its stake in Bristol-Myers Squibb Company ($BMY), a 38.27% decrease, according to a 13F filing with the SEC dated May 15, 2026. It reported 170,511 shares worth $9.82 million at the end of the quarter.
Since the filing, $BMY is up 4.3% after 1 week, down 1.3% after 1 month and up 7.1% to date (from the $55.79 close on May 15, 2026).
Find the original: Brevan Howard Capital Management 13F filings on SEC EDGAR
BMY
Bristol-Myers Squibb Company
Key Points
- Brevan Howard Capital Management cut its stake in Bristol-Myers Squibb by 105,722 shares, bringing its total down to 170,511 shares valued at about $9.8 million as of May 15, 2026.
- The stock trades around $57.62 after a drop, having reached a high of $68.64 and a low of $42.52 over the past year.
- Analysts maintain a 'buy' recommendation for Bristol-Myers Squibb, with a consensus price target of $65.63 from 24 analysts.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Bristol-Myers Squibb Company alert may contain errors. Disclosures
Brevan Howard Capital Management has reduced its stake in Bristol-Myers Squibb Company (NYSE: BMY) by 105,722 shares, bringing its total holdings to 170,511 shares. This cut reflects a 38.3% decrease in their position, now valued at approximately $9.8 million based on a share price of $57.62 as of May 15, 2026. The latest change was noted in their Form 13F filing with the SEC.
Brevan Howard's move shows a strategic reduction in exposure to this biopharmaceutical firm, which focuses on developing drugs for various diseases, including cancer and cardiovascular issues. The fund's previous share count was 276,233 shares before the reduction.
Other Institutional Activity in Bristol-Myers Squibb
Several other institutional investors also adjusted their positions in Bristol-Myers Squibb. Blackrock Inc. grew its holdings by 8,704,215 shares, ending with 180,384,994 shares worth about $10.9 billion. Vanguard Capital Management LLC added 1,018,856 shares for a total of 133,337,856 shares valued at approximately $8.1 billion. State Street Corporation increased its stake by 3,844,031 shares, bringing its total to 102,408,940 shares valued at about $6.2 billion. Meanwhile, JPMorgan Chase & Co. decreased its holdings by 20,760,371 shares, leaving it with 71,713,442 shares worth around $4.3 billion, and Charles Schwab Investment Management raised its position by 6,478,381 shares for a total of 67,595,177 shares valued at roughly $4.1 billion.
Bristol-Myers Squibb Company Stock Down 2.8%
Currently, Bristol-Myers Squibb shares trade at $57.62, positioned well below its 52-week high of $68.64. The stock is also trading near its 200-day moving average of $59.61, indicating some volatility over recent months. With a market capitalization of about $123.7 billion, the company's stock performance reflects its significant role within the healthcare sector.
Recent Earnings
In its most recent earnings report, Bristol-Myers Squibb reported revenue of approximately $49.2 billion, marking a revenue growth of 5.7%. The company had an EPS of $4.54 with a net margin of about 18.87%. The next earnings report is expected 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.
Insider Buying and Selling at Bristol-Myers Squibb Company
Recent insider trading includes several sales by company officers. Cristian Massacesi sold 6,249 shares at an average price of $64.57 on September 9, 2026, for about $403,498. Phil M. Holzer sold 500 shares at $67.50 on August 25, 2026, totaling $33,750. Additionally, CFO David Vincent Elkins sold 30,000 shares on April 1, 2026, valued at approximately $1.85 million.
Analysts Set New Price Targets
Analysts are closely watching Bristol-Myers Squibb, with Wells Fargo maintaining an Equal-Weight rating and a price target of $60 as of October 13, 2026. Cantor Fitzgerald also kept its Neutral rating with a target of $53, while Morgan Stanley has an Underweight rating with a target of $41. Leerink Partners downgraded its rating to Market Perform with a target of $59, compared to its prior target of $73. Piper Sandler reiterated its Overweight rating with a higher target of $82, up from $75.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company based in Princeton, NJ. It specializes in discovering, developing, and selling therapies for oncology, immunology, and cardiovascular diseases. The recent changes in institutional holdings reflect the dynamic nature of the healthcare investment landscape.
Bottom Line
Investors should keep an eye on Bristol-Myers Squibb's upcoming earnings report on October 29, 2026, and watch for further filings from institutional investors. The recent 13F filing reflects Brevan Howard's reduced stake, which may signal shifting strategies in the market.
Related Filing Alerts
Source: Brevan Howard Capital Management's 13F filing on $BMY (May 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Brevan Howard Capital Management 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts