Birinyi Associates Inc. Purchases New Position in Bristol Myers Squibb Company $BMY

Key Points

• Birinyi Associates acquired 53,255 Bristol Myers Squibb shares worth approximately $3.32 million in the third quarter, while institutional investors collectively own 76.41% of BMY.
• Bristol Myers Squibb exceeded third-quarter expectations with adjusted EPS of $1.35 and revenue of $13.07 billion, up 6.9% year over year. The company also raised its 2026 revenue outlook to about $50 billion, though higher expenses reduced earnings guidance.
• Analyst sentiment remains mixed: BMY has an average “Hold” rating and a $65.46 target price, with concerns about weaker-than-expected Opdivo sales, patent expirations and pressure on older blockbuster products.

Birinyi Associates Inc. acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 53,255 shares of the biopharmaceutical company's stock, valued at approximately $3,323,000. Bristol Myers Squibb comprises about 0.8% of Birinyi Associates Inc.'s holdings, making the stock its 22nd biggest holding.

Several other large investors have also modified their holdings of the stock. Davis Asset Management L.P. acquired a new stake in Bristol Myers Squibb during the 2nd quarter worth $27,000. Addison Advisors LLC purchased a new stake in Bristol Myers Squibb in the second quarter valued at $32,000. Groupe la Francaise boosted its stake in Bristol Myers Squibb by 562.9% in the second quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 501 shares in the last quarter. Arlington Trust Co LLC acquired a new position in Bristol Myers Squibb in the second quarter valued at $35,000. Finally, Kilter Group LLC purchased a new position in shares of Bristol Myers Squibb during the second quarter worth about $35,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Guggenheim reiterated a "buy" rating and set a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Leerink Partners cut 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. Roth Capital started coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a "buy" rating and a $75.00 price target on the stock. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Monday, October 12th. Finally, Bank of America reissued a "buy" rating on shares of Bristol Myers Squibb in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $65.46.

Insider Buying and Selling

In related news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb stock in a transaction dated Tuesday, August 25th. The stock was 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. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.05% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $62.46 on Friday. The company has a 50-day simple moving average of $62.80 and a 200-day simple moving average of $59.94. Bristol Myers Squibb Company has a 52-week low of $45.20 and a 52-week high of $68.64. 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 company has a market capitalization of $127.59 billion, a PE ratio of 9.85, a P/E/G ratio of 0.32 and a beta of 0.19.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.72 billion. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 62.78%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.37 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 2nd will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 55.51%.

Key Stories Impacting Bristol Myers Squibb

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

• Positive Sentiment: Bristol Myers Squibb reported third-quarter adjusted EPS of $1.35 and revenue of $13.07 billion, exceeding consensus estimates of $1.10 and $12.72 billion, respectively. Revenue increased 6.9% year over year. Bristol Myers Squibb Q3 revenue report
• Positive Sentiment: The company raised its full-year 2026 revenue outlook to approximately $50 billion as its Growth Portfolio—including newer drugs—grew 12% to $7.7 billion, helping offset pressure from older products facing patent expirations. BMY Q3 earnings call highlights
• Positive Sentiment: Barclays maintained its Buy rating, while management pointed to pipeline progress, cancer-trial data and increased use of artificial intelligence in drug research as potential longer-term catalysts. Barclays maintains Buy rating
• Neutral Sentiment: The improved sales outlook is largely a revenue story: deal-related and higher in-process research and development charges contributed to a reduction in 2026 EPS guidance, and adjusted earnings fell from $1.63 a year earlier to $1.35. BMY earnings and guidance report
• Negative Sentiment: Opdivo sales came in below expectations, highlighting launch execution risks and the continuing challenge of replacing revenue from aging blockbuster drugs. Bristol Myers Opdivo sales report
• Negative Sentiment: Morgan Stanley cut its price target from $41 to $40 and reiterated an Underweight rating, implying substantial downside from the current trading level. Morgan Stanley BMY rating
• Negative Sentiment: A separate analysis downgraded BMY, arguing that progress from newer medicines may not fully overcome the company’s upcoming patent cliffs. Bristol Myers patent-cliff analysis

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company's portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.

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