Bristol Myers Squibb Company (BMY) Slipped due to Lowered EPS Guidance

Core Insights - Cullen Capital Management's "SCCM Value Equity Strategy" reported a gross return of 6.9% and a net return of 6.8% for Q3 2025, outperforming the Russell 1000 Value's 5.3% and underperforming the S&P 500's 8.1% during the same period [1] - Year-to-date, the strategy achieved a gross return of 13.0%, compared to Russell 1000 Value's +11.7% and S&P 500's +14.8% [1] Company Analysis: Bristol-Myers Squibb Company (NYSE:BMY) - Bristol-Myers Squibb's stock closed at $45.79 on November 19, 2025, with a one-month return of 4.47% and a 52-week loss of 21.36% [2] - The company has a market capitalization of $93.217 billion [2] - The stock selection in the Health Care sector, particularly Bristol-Myers Squibb, detracted from relative performance, with the stock reporting a -1.3% return [3] - Despite beating expectations in both Growth and Legacy portfolios, Bristol-Myers Squibb lowered its EPS guidance due to one-time R&D charges and ongoing loss-of-exclusivity pressures [3] - Management is focusing on stabilizing near-term performance through portfolio realignment, cost discipline, and pipeline advancement, with growth products like Opdivo, Reblozyl, and Camzyos gaining traction [3] Market Sentiment - Scotiabank initiated coverage on Bristol-Myers Squibb with a Sector Perform rating and a target price of $45 [4] - The company is not among the 30 most popular stocks among hedge funds, with 67 hedge fund portfolios holding the stock at the end of Q2 2025, down from 69 in the previous quarter [4] - While acknowledging Bristol-Myers Squibb's potential, there is a belief that certain AI stocks present greater upside potential and less downside risk [4]