Bristol Myers Squibb (NYSE:BMY – Free Report) had its price target lowered by Cantor Fitzgerald from $59.00 to $53.00 in a research note issued to investors on Thursday morning, Marketbeat reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.
BMY has been the subject of a number of other reports. UBS Group downgraded shares of Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Jefferies Financial Group lowered shares of Bristol Myers Squibb from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Morgan Stanley restated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Bristol Myers Squibb in a research report on Wednesday. Finally, Royal Bank Of Canada increased their price objective on Bristol Myers Squibb from $60.00 to $64.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.96.
Bristol Myers Squibb Stock Performance
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities research analysts predict that Bristol Myers Squibb will post 6.80 EPS for the current fiscal year.
Bristol Myers Squibb Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.3%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 55.51%.
Insider Buying and Selling
In other Bristol Myers Squibb 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 transaction of $33,750.00. Following the completion of the sale, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in BMY. Primecap Management Co. CA bought a new stake in Bristol Myers Squibb in the second quarter valued at about $1,436,115,000. Legal & General Group Plc acquired a new position in Bristol Myers Squibb in the second quarter valued at about $980,862,000. BlackRock Inc. boosted its holdings in Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after buying an additional 8,702,106 shares during the last quarter. State Street Corp grew its position in shares of Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock worth $6,093,755,000 after buying an additional 7,192,724 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Bristol Myers Squibb by 153.8% during the 1st quarter. SG Americas Securities LLC now owns 8,910,032 shares of the biopharmaceutical company’s stock worth $540,393,000 after buying an additional 5,399,407 shares during the period. 76.41% of the stock is currently owned by institutional investors.
Key Stories Impacting Bristol Myers Squibb
Here are the key news stories impacting Bristol Myers Squibb this week:
- Positive Sentiment: Bristol Myers reported that its ZENBEXUS (iberdomide) combination achieved superior progression-free survival versus standard of care in the Phase 3 EXCALIBER-RRMM trial for relapsed or refractory multiple myeloma. The results also showed high minimal residual disease-negative complete response rates and could support an application for accelerated FDA approval, strengthening BMY’s oncology pipeline. Bristol Myers Squibb Announces ZENBEXUS Phase 3 Results
- Positive Sentiment: J.P. Morgan reportedly assigned BMY a Buy rating, while recent commentary highlights the company’s oncology and hematology portfolio and its history of earnings surprises. These factors may support investor confidence in future growth and earnings. Bristol Myers Squibb Receives a Buy from J.P. Morgan
About Bristol Myers Squibb
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.
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