Convergence Financial LLC Buys New Position in Bristol Myers Squibb Company $BMY

Convergence Financial LLC bought a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,333 shares of the biopharmaceutical company's stock, valued at approximately $999,000.

Other institutional investors have also added to or reduced their stakes in the company. Swiss RE Ltd. bought a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at $25,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth $25,000. Physician Wealth Advisors Inc. raised its holdings in Bristol Myers Squibb by 73.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 202 shares during the period. Bayban purchased a new position in Bristol Myers Squibb during the fourth quarter valued at $31,000. Finally, EQ Wealth Advisors LLC purchased a new position in Bristol Myers Squibb during the fourth quarter valued at $32,000. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BMY shares. Truist Financial restated a "buy" rating and issued a $70.00 price target (up from $65.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. TD Cowen initiated coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a "buy" rating on the stock. UBS Group cut Bristol Myers Squibb from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 5th. Raymond James Financial initiated coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a "strong-buy" rating for the company. Finally, Jefferies Financial Group lowered shares of Bristol Myers Squibb from a "buy" rating to a "hold" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.06.

Bristol Myers Squibb Trading Up 0.0%

Shares of BMY stock opened at $63.86 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. The stock has a fifty day simple moving average of $59.56 and a two-hundred day simple moving average of $59.00. The firm has a market capitalization of $130.45 billion, a PE ratio of 14.07, a PEG ratio of 0.17 and a beta of 0.22. Bristol Myers Squibb Company has a 52-week low of $42.52 and a 52-week high of $68.10.

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 for the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business'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, analysts predict that Bristol Myers Squibb Company will post 6.95 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 3.9%. Bristol Myers Squibb's payout ratio is currently 55.51%.

Key Stories Impacting Bristol Myers Squibb

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

• Positive Sentiment: The U.S. FDA granted accelerated approval to ZENBEXUS, Bristol Myers Squibb’s first CELMoD therapy, in combination with daratumumab, hyaluronidase-fihj and dexamethasone for multiple myeloma patients as early as first relapse. The approval is strategically important because CELMoD drugs could help extend and rejuvenate the company’s important blood-cancer franchise. Bristol Myers wins milestone FDA approval of myeloma drug acquired from Celgene
• Positive Sentiment: Zacks Research raised its Bristol Myers Squibb EPS outlook for fiscal 2027 to $6.20 from $5.93. It also increased estimates for the fourth quarter of 2026, the first and second quarters of 2027, and the first two quarters of 2028, suggesting improved analyst expectations for earnings momentum.
• Positive Sentiment: The company expanded its kidney-disease pipeline with a Phase 1 study of golcadomide, providing another potential long-term growth opportunity beyond its established oncology products. Bristol-Myers Squibb expands kidney pipeline with new golcadomide renal study
• Neutral Sentiment: Rumors of a potential AstraZeneca-Bristol Myers Squibb merger have generated investor concern. Although a transaction could create a sizable oncology-focused pharmaceutical company, the strategic, financial and execution risks remain uncertain, and no deal was confirmed. Reported AstraZeneca-Bristol Myers Squibb megamerger
• Negative Sentiment: A federal appeals court revived a $6.7 billion lawsuit alleging Bristol Myers Squibb delayed approval of drugs acquired through Celgene, including Breyanzi. The case could create substantial financial liability and legal uncertainty. Lawsuit against Bristol Myers over delayed cancer drug is revived

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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source