Vontobel Sells 248,546 BMY Shares as BMS Growth Leads 2026; London 2026

Key Points

• Vontobel Holding Ltd. sold 248,546 shares of Bristol Myers Squibb Company (NYSE: BMY) during the fourth quarter, reducing its stake by 24.6%
• After the sale, Vontobel holds 763,128 shares valued at approximately $41.2 million
• Bristol Myers Squibb’s growth portfolio now generates more than half of total revenue, with seven products annualizing at over $1 billion in sales
• Key growth drugs include Reblozyl (surpassed $2 billion in sales), Breyanzi (crossed $1 billion), Cobenfy ($155 million in 2025), and Opdualag/Camzyos (each over $1 billion)
• The company reported Q4 2024 revenue of $12.3 billion, up 8% (9% adjusted for foreign exchange), and full-year 2025 revenue of $48.2 billion
• Bristol Myers Squibb beat quarterly earnings and revenue estimates, with FY2026 EPS guidance of $6.05 to $6.35 and revenue guidance of $46.0–$47.5 billion
• Wall Street analysts maintain a consensus “Hold” rating with a 12-month target price of $61.31 (1 sell, 10 hold, 8 buy from 19 firms)
• Five other institutional investors increased their BMS positions in Q4: Northwestern Mutual (+0.3%), Investment Research Partners LLC (+1.4%), ESG Planning DBA Harper Investing (+1.3%), REAP Financial Group LLC (+26.1%), and Novem Group (+2.9%)
• Institutional investors collectively own 76.41% of Bristol Myers Squibb’s stock
• BMS advanced pipeline efforts including a completed Phase 1 bioavailability study for BMS-986435

Bristol (Bristol Express News) June 13, 2026 –As reported by MarketBeat in their instant alert filing, Vontobel Holding Ltd. lowered its position in Bristol Myers Squibb Company by 24.6% during the fourth quarter according to the company’s most recent disclosure with the Securities & Exchange Commission . The institutional investor owned 763,128 shares of the biopharmaceutical company’s stock after selling 248,546 shares during the quarter . Vontobel Holding Ltd.’s holdings in Bristol Myers Squibb were worth $41,163,000 as of its most recent SEC filing .

The sale represents a significant reduction for the Swiss asset manager, which previously held 1,011,674 shares before the quarter’s transactions . This 24.6% reduction comes amid mixed signals from Wall Street regarding Bristol Myers Squibb’s stock performance, with analysts maintaining a consensus “Hold” rating .

How Has Bristol Myers Squibb’s Growth Portfolio Become More Than Half of Total Revenue?

As reported by Bristol Myers Squibb at their 2026 annual meeting of shareholders, the company delivered total 2025 revenue of $48.2 billion, with its growth portfolio accounting for more than half of total revenue and rising 17% from 2024 sales.

CEO Christopher Boerner stated that the company’s growth portfolio now includes seven products annualizing at more than $1 billion in sales.

The growth portfolio’s commanding position reflects BMS’s successful transition from legacy products. As reported in Q2 2025 slides, the growth portfolio generated $6.6 billion in Q2 2025, an 18% increase year-over-year, while the legacy portfolio declined to $5.7 billion from $6.6 billion in the same period last year.

This marks a pivotal moment where newer products have overtaken older drugs in revenue contribution.

Which Specific Drugs Are Driving BMS’s Growth Portfolio Success?

Reblozyl has emerged as the portfolio’s standout performer, surpassing $2 billion in annual sales. As reported in Q2 2025 data, Reblozyl sales surged 35% year over year to $478 million in that quarter alone, and 34% in Hematology specifically. The drug’s strong performance helps offset declines in legacy hematology products like Revlimid ($838 million, -38%) and Pomalyst ($708 million, -26%).

Breyanzi has crossed the $1 billion threshold, with sales skyrocketing 146% to $263 million in Q1 2025, beating consensus estimates of $240 million. In Q2 2025, Breyanzi sales reached $344 million, up 125% year-over-year.

Cobenfy, approved by the FDA in September 2024 and launched the following month, generated $155 million in sales during 2025, outpacing comparable schizophrenia treatments in its first year. However, the drug has faced uptake challenges, with Q4 2025 sales of $51 million representing a 3% miss versus consensus expectations. Third-quarter 2025 sales were $43 million, up from $35 million in Q2.

OPDUALAG and CAMZYOS each crossed the $1 billion threshold, joining the portfolio’s billion-dollar club. Eliquis, though not explicitly categorized as growth portfolio, remains a critical revenue driver, with management noting an Eliquis price cut should boost 2026 revenue.

What Does Wall Street’s “Hold” Consensus Rating Mean for Bristol Myers Squibb Stock?

As reported by MarketBeat on April 27, 2026, Bristol Myers Squibb has an average analyst rating of “Hold” from 19 firms, with one sell rating, ten hold ratings, and eight buy ratings. The average twelve-month target price among brokers is $61.31, reflecting the blend of recommendations.

As of June 7, 2026, MarketBeat data confirms the consensus rating stands at “Hold” with eight analysts rating the stock as Buy, ten assigning Hold, and one giving Sell.

According to the same compilation, the average 12-month price target is USD 61.31, reflecting analysts awaiting further data readouts, regulatory milestones, and commercial trends before reassessing the stock’s medium-term trajectory.

Despite the cautious consensus, Bristol Myers Squibb recently beat quarterly earnings and revenue estimates . Q4 GAAP EPS came in at $1.26, missing the ~$1.65 consensus, but revenue of approximately $12.5 billion beat expectations. Full-year 2025 revenue totaled $48.2 billion, roughly flat versus 2024.

How Did Bristol Myers Squibb’s FY2026 Guidance Compare to Analyst Expectations?

As reported by MarketBeat on February 4, 2026, Bristol Myers Squibb provided EPS guidance of $6.050-$6.350 for FY2026, compared to the consensus estimate of $6.040. The company issued revenue guidance of $46.0 billion-$47.5 billion, compared to the consensus revenue estimate of $44.2 billion.

Management set 2026 revenue guidance between $46.0 billion and $47.5 billion and an adjusted diluted-EPS range of $6.05 to $6.35. In Q1 2026, the company reported revenue of $11.5 billion, up 3% year over year, and reaffirmed its 2026 non-GAAP guidance, with both revenue and EPS expected to trend toward the upper end of these ranges.

The upbeat guidance reflects management’s confidence that an Eliquis price cut should boost 2026 revenue. This contrasts with weak guidance issued in previous quarters, when the company planned $2 billion in cost cuts by 2027.

Which Other Institutional Investors Increased Their Bristol Myers Squibb Positions in Q4?

As reported by MarketBeat, several hedge funds and institutional investors recently bought shares of Bristol Myers Squibb while Vontobel sold .

Northwestern Mutual Investment Management Company LLC raised its stake by 0.3% in the fourth quarter, now owning 65,046 shares valued at $3,509,000 after buying 172 additional shares .

Investment Research Partners LLC raised its stake by 1.4% in Q4, now owning 13,134 shares valued at $708,000 after acquiring 179 additional shares . ESG Planning DBA Harper Investing increased its position by 1.3%, now holding 13,811 shares valued at $745,000 after buying 180 shares .

REAP Financial Group LLC made the most significant increase, raising its stake by 26.1% in Q4 . The firm now owns 879 shares valued at $47,000 after buying 182 additional shares . Novem Group raised its position by 2.9%, now owning 6,402 shares valued at $345,000 after acquiring 183 shares .

These purchases contrast with Vontobel’s substantial sale, suggesting divergent institutional opinions on BMS’s trajectory. Institutional investors collectively own 76.41% of the company’s stock, indicating strong institutional participation .

What Pipeline Developments Is Bristol Myers Squibb Advancing Beyond Its Growth Portfolio?

As reported in clinical trial databases, Bristol Myers Squibb advanced pipeline efforts including a Phase 1 bioavailability study for BMS-986435. The study, titled

“A Phase 1, Open-label, Single-site, Randomized, Single-dose, Three-way, Crossover Study to Assess the Relative Bioavailability of BMS-986435 Tablet Formulations in Healthy Adult Participants,”

was completed as of March 18, 2025.

The trial assessed how well different tablet formulations of BMS-986435 are absorbed in healthy adults, with the study launched by Bristol-Myers Squibb on August 27, 2024. Participants had to weigh at least 45 kg with a BMI between 18 and 32, confirming they were within a healthy weight range.

While BMS focuses heavily on commercializing its growth portfolio, pipeline advancement remains critical for long-term sustainability.

The company highlighted pipeline development progress at its 2026 annual shareholder meeting alongside balance sheet management and cost-saving initiatives.

Background: The Development of Vontobel’s Bristol Myers Squibb Stake Reduction and BMS’s Growth Transition

Vontobel Holding Ltd., a Swiss asset manager, had built a significant position in Bristol Myers Squibb over preceding quarters before reducing it by 24.6% in Q4 2024. The sale of 248,546 shares left Vontobel with 763,128 shares worth $41.2 million, representing one of the notable institutional reductions in BMS stock during that period .

Bristol Myers Squibb’s transformation stems from strategic shifts beginning years ago. The company faced declining revenues from legacy products like Revlimid and Pomalyst in hematology, which saw 38% and 26% declines respectively in Q2 2025.

To counter this, BMS invested heavily in developing and acquiring new products across immuno-oncology, hematology, and neuroscience.

The growth portfolio’s milestone of exceeding 50% of total revenue marks a critical transition point. Reblozyl’s journey to $2 billion in annual sales demonstrates the portfolio’s strength, while Breyanzi’s 125-146% quarterly growth rates show accelerating adoption.

Cobenfy’s $155 million first-year performance, despite uptake challenges, represents BMS’s entry into the schizophrenia market with a novel mechanism.

The contrasting institutional actions—Vontobel’s 24.6% reduction versus REAP Financial Group’s 26.1% increase—reflect ongoing uncertainty about BMS’s trajectory despite strong operational performance .

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Prediction: How This Development Can affect Institutional Investors and Retail Shareholders of Bristol Myers Squibb

For institutional investors holding Bristol Myers Squibb, Vontobel’s 24.6% reduction may signal caution about near-term stock performance despite the company’s operational strengths.

The mixed institutional sentiment—with five firms increasing positions while Vontobel reduced substantially—suggests investors should monitor whether the “Hold” consensus rating persists or shifts as Q1 2026 and subsequent quarters unfold.

The growth portfolio’s dominance (over 50% of revenue) provides a positive foundation, but retail shareholders should note that Cobenfy’s sluggish uptake ($51 million in Q4, 3% below consensus) and Eliquis price pressures could create volatility.

The $61.31 price target suggests limited upside from current levels, implying the stock may trade in a range unless pipeline data or commercial metrics exceed expectations.

For investors tracking BMS, the FY2026 guidance of $6.05-$6.35 EPS and $46.0-$47.5 billion revenue, trending toward the upper end, provides a measurable benchmark.

If the company achieves this, the “Hold” rating could shift to “Buy,” potentially pushing the stock above the $61 target. However, failure to meet guidance amid legacy product declines could reinforce downward pressure.