Bristol Myers Squibb (NYSE:BMY) Stock Moved Up to "Strong-Buy" by The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Bristol Myers Squibb from “hold” to “strong buy,” joining Zacks Research; however, overall analyst sentiment remains “moderate buy,” with a consensus price target of $64.88.
• BMY shares closed at $59.69, below the consensus target, while the company’s latest quarterly results exceeded expectations with $2.04 in EPS and $12.97 billion in revenue.
• The investment case is supported by positive late-stage data for pipeline treatments, but investors remain concerned about the company’s substantial debt and looming patent expirations affecting legacy-drug revenue.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) was upgraded by analysts at The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report released on Friday, Zacks reports.

BMY has been the subject of several other research reports. Zacks Research raised shares of Bristol Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 23rd. Morgan Stanley reaffirmed an "underweight" rating and set a $41.00 price target (up from $40.00) on shares of Bristol Myers Squibb in a research report on Wednesday, October 7th. Citigroup reaffirmed a "neutral" rating and set a $70.00 price objective (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, August 3rd. Leerink Partners lowered Bristol Myers Squibb from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $73.00 to $59.00 in a research report on Monday, October 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Bristol Myers Squibb from $60.00 to $64.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of "Moderate Buy" and a consensus price target of $64.88.

Bristol Myers Squibb Price Performance

NYSE:BMY traded down $0.88 during mid-day trading on Friday, reaching $59.69. The stock had a trading volume of 13,770,205 shares, compared to its average volume of 14,832,782. The stock has a 50-day simple moving average of $63.55 and a two-hundred day simple moving average of $60.29. The stock has a market capitalization of $121.94 billion, a PE ratio of 13.15, a P/E/G ratio of 0.31 and a beta of 0.19. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $68.64.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.60 by $0.44. The business had revenue of $12.97 billion during the quarter, compared to the consensus estimate 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 revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities analysts anticipate that Bristol Myers Squibb will post 6.56 earnings per share for the current year.

Insider Activity

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president owned 16,862 shares of the company's stock, valued at $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Bristol Myers Squibb

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of 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 buying an additional 8,702,106 shares during the period. State Street Corp lifted its stake in 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 valued at $6,093,755,000 after acquiring an additional 7,192,724 shares during the period. Primecap Management Co. CA bought a new stake in Bristol Myers Squibb in the 2nd quarter worth approximately $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Bristol Myers Squibb by 0.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company's stock worth $1,315,984,000 after acquiring an additional 119,690 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Bristol Myers Squibb by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company's stock valued at $1,137,847,000 after purchasing an additional 520,330 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Key Bristol Myers Squibb News

Here are the key news stories impacting Bristol Myers Squibb this week:

• Positive Sentiment: Recent late-stage data support the company’s effort to replace revenue from aging medicines. Bristol Myers Squibb reported positive Phase 3 topline results for RYZ101 in gastroenteropancreatic neuroendocrine tumors and ZENBEXUS (iberdomide) in relapsed or refractory multiple myeloma. The breadth of the pipeline could strengthen long-term growth if the programs successfully reach the market. How Positive Phase 3 Results Will Impact Bristol Myers Squibb Stock Investors
• Positive Sentiment: Admilparant remains potentially viable as a pulmonary-fibrosis treatment despite mixed Phase 3 results, with UBS reportedly maintaining a constructive view. The lower dose met the primary endpoint, preserving some commercial potential. Bristol-Myers Squibb's Pulmonary Fibrosis Treatment Still Viable Despite Recent Mixed Phase 3 Results, UBS Says
• Neutral Sentiment: BMY’s roughly 40% one-year rally has been supported by new medicines, revenue growth and higher earnings guidance. However, its low valuation—about 9.36 times forward earnings—suggests investors remain cautious about whether the new portfolio can justify additional upside. Bristol Myers Squibb’s Rally Has Momentum, but Can Its New Drugs Justify More Upside?
• Negative Sentiment: The company’s approximately $43 billion debt load and looming patent cliff create concerns about future cash flow and dividend growth. Bristol Myers Squibb’s 4.2% yield and 17-year record of dividend increases may be attractive, but investors are questioning whether upcoming launches can offset declining legacy-drug revenue. Bristol Myers Squibb's 4.2% Dividend Yield Comes With a Trade-Off Investors Should Know

Bristol Myers Squibb Company Profile

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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