California State Teachers Retirement System 13F: Cuts BMY Stake by $4.5M

CalSTRS Reduces Its Position

The California State Teachers Retirement System (CalSTRS) trimmed its investment in Bristol-Myers Squibb Company (NYSE: BMY) by 77,660 shares, reducing its total holdings to 3,317,201 shares. This change reflects a 2.3% decrease in its position and values the stake at approximately $191.1 million as of May 18, 2026.

Institutional Moves in Bristol-Myers Squibb

In a quarter where several funds adjusted their holdings in Bristol-Myers Squibb, CalSTRS' decision to reduce its stake aligns with similar moves by other investors. For instance, Euro Pacific Asset Management recently opened a new position by acquiring 3,000 shares valued at $202,680, marking a contrasting approach to CalSTRS' reduction. Additionally, Hb Wealth Management added 22,867 shares, boosting its holdings to 109,993 shares. Intech Investment Management also cut its stake significantly, reducing its holdings by over 58% in the same period.

How Bristol-Myers Squibb Company Stock Has Traded

Bristol-Myers Squibb shares traded at $57.62 on the day of the filing, which is lower than the previous close of $59.28. The stock has seen a 52-week range between $42.52 and $68.64. The recent decline in price could be influencing investment decisions among major holders like CalSTRS.

Analysts Set New Price Targets

Recent analyst activity shows mixed sentiments on Bristol-Myers Squibb. On October 13, 2026, Wells Fargo maintained an 'Equal-Weight' rating with a target price of $60, down from $65. Cantor Fitzgerald also kept a 'Neutral' rating with a lowered target of $53. Meanwhile, Piper Sandler reiterated an 'Overweight' rating, raising its target to $82 from $75. The consensus among analysts is a 'buy' with a mean target of $65.63 based on 24 opinions.

What Bristol-Myers Squibb Company Does

Bristol-Myers Squibb Company is a global biopharmaceutical company based in Princeton, New Jersey. It focuses on discovering and developing medications across various therapeutic areas, including oncology and immunology. The recent adjustments by CalSTRS and other funds highlight ongoing shifts in investor sentiment surrounding the company.

What’s Next for Bristol-Myers Squibb

Looking ahead, investors will be watching for the upcoming earnings report scheduled for October 29, 2026. The latest 13F filing from CalSTRS reflects its holdings as of the reporting period and may not represent its current position.