Cannell & Spears Reduces Bristol Myers Squibb Stake

Investment firm sells 18,177 shares of pharmaceutical company's stock.

Mar. 15, 2026 at 11:10am

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Cannell & Spears LLC, a financial services firm, has reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 6.7% in the third quarter. The firm now owns 252,914 shares of the biopharmaceutical company's stock, valued at $11.4 million as of its most recent SEC filing.

Why it matters

This transaction provides insight into the investment strategy and portfolio adjustments of Cannell & Spears, a notable institutional investor. Changes in ownership stakes of major pharmaceutical companies like Bristol Myers Squibb can signal broader market trends or shifts in investor sentiment.

The details

According to the disclosure, Cannell & Spears sold 18,177 shares of Bristol Myers Squibb during the third quarter. The firm's total holdings in the company are now valued at $11.4 million. Bristol Myers Squibb is a global biopharmaceutical company focused on developing and delivering medicines for serious diseases, with a strong emphasis on oncology, hematology, immunology, and cardiovascular treatments.

  • Cannell & Spears reduced its Bristol Myers Squibb stake in the third quarter of 2026.

The players

Cannell & Spears LLC

A financial services firm that manages investments and portfolios.

Bristol Myers Squibb Company

A global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing, and delivering medicines for serious diseases.

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The takeaway

This transaction highlights the ongoing portfolio adjustments and investment decisions made by institutional investors like Cannell & Spears as they navigate the evolving pharmaceutical industry landscape and seek to optimize their holdings.