Westpac Banking Corp acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 170,319 shares of the biopharmaceutical company’s stock, valued at approximately $9,814,000.
A number of other large investors have also bought and sold shares of BMY. TRB Wealth Management LLC bought a new stake in shares of Bristol Myers Squibb in the second quarter valued at $262,000. Sumitomo Life Insurance Co. purchased a new position in shares of Bristol Myers Squibb during the 2nd quarter valued at $452,000. Korea Investment CORP bought a new position in shares of Bristol Myers Squibb during the 2nd quarter worth $86,518,000. EP Wealth Advisors LLC purchased a new stake in Bristol Myers Squibb in the 2nd quarter worth about $5,043,000. Finally, Pinnacle West Asset Management Inc. purchased a new stake in Bristol Myers Squibb in the 2nd quarter worth about $830,000. 76.41% of the stock is owned by hedge funds and other institutional investors.
Bristol Myers Squibb News Summary
Here are the key news stories impacting Bristol Myers Squibb this week:
- Positive Sentiment: Bristol Myers Squibb plans to invest approximately $2.3 billion in a new Houston manufacturing facility, part of a broader $40 billion U.S. investment commitment. The project reinforces BMY’s confidence in domestic production capacity and could support long-term operational growth. Bristol-Myers Squibb Bets $2.3 Billion on Texas
- Positive Sentiment: BMY is collaborating with Chai Discovery on artificial-intelligence-driven antibody discovery. The partnership could help identify novel therapeutic candidates more efficiently and strengthens the company’s efforts to modernize its drug-development platform. Chai Discovery Collaboration
- Positive Sentiment: The company is launching a Phase 1 study of an early Alzheimer’s disease antibody. Although the program remains highly experimental, it adds another potential long-term growth opportunity to BMY’s pipeline. Early Alzheimer’s Antibody Study
- Positive Sentiment: Strong Eliquis performance is helping offset declines in BMY’s older products facing generic pressure, supporting a more favorable 2026 revenue outlook. Elevated call-option activity also signals increased bullish interest, though it is not a fundamental guarantee. Eliquis and Legacy Portfolio Analysis
- Neutral Sentiment: Early clinical work on navlimetostat shows continued pipeline activity, but the Phase 1-stage program has not yet produced efficacy data that would materially change near-term earnings expectations. Navlimetostat Study Update
- Negative Sentiment: Generic competition remains a key risk for BMY’s legacy portfolio. Investors must determine whether Eliquis growth and newer pipeline assets can replace revenue lost as established medicines face erosion. Legacy Portfolio Erosion Analysis
Bristol Myers Squibb Stock Performance
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Research analysts forecast that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.
Bristol Myers Squibb Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 3.8%. Bristol Myers Squibb’s payout ratio is currently 55.51%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Argus raised shares of Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Roth Capital began coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They issued a “buy” rating and a $75.00 price target on the stock. Citigroup restated a “neutral” rating and set a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has a consensus rating of “Moderate Buy” and an average price target of $66.06.
Read Our Latest Stock Report on Bristol Myers Squibb
Bristol Myers Squibb Profile
Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.
BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.
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