Bristol Myers Squibb (NYSE:BMY) Cut to “Market Perform” at Leerink Partners

Posted by Brenda Bartman on Oct 8th, 2026

Leerink Partners lowered shares of Bristol Myers Squibb (NYSE:BMY – Free Report) from an outperform rating to a market perform rating in a research note published on Monday, MarketBeat.com reports. Leerink Partners currently has $59.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $73.00.

BMY has been the topic of a number of other research reports. Piper Sandler reissued an “overweight” rating and set a $82.00 target price (up from $75.00) on shares of Bristol Myers Squibb in a report on Wednesday, September 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. UBS Group cut Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $59.00 price objective (up from $54.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $63.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.06.

Read Our Latest Research Report on Bristol Myers Squibb

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.69 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $121.92 billion, a PE ratio of 13.15, a P/E/G ratio of 0.28 and a beta of 0.19. Bristol Myers Squibb has a twelve month low of $42.52 and a twelve month high of $68.64. The company has a 50-day moving average price of $64.38 and a two-hundred day moving average price of $60.27.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.44. The company had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Equities analysts forecast that Bristol Myers Squibb will post 6.95 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 55.51%.

Insider Activity at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares of the company’s stock, valued at approximately $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA purchased a new stake in shares of Bristol Myers Squibb during the 2nd quarter valued at $1,436,115,000. Legal & General Group Plc bought a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at $980,862,000. BlackRock Inc. raised its position in Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the period. State Street Corp lifted its stake in Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock worth $6,093,755,000 after purchasing an additional 7,192,724 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Bristol Myers Squibb by 153.8% in the first quarter. SG Americas Securities LLC now owns 8,910,032 shares of the biopharmaceutical company’s stock worth $540,393,000 after purchasing an additional 5,399,407 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Company Profile

(Get Free Report)

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.