First Horizon Corp Acquires 89,074 Shares of Bristol Myers Squibb Company $BMY

Key Points

• First Horizon Corp increased its Bristol Myers Squibb stake by 72.8% in the first quarter, buying 89,074 additional shares and bringing its total holding to 211,395 shares worth about $12.8 million.
• Bristol Myers Squibb reported better-than-expected quarterly results, with EPS of $1.58 versus $1.42 expected and revenue of $11.49 billion versus $10.93 billion estimated. The company also raised its FY 2026 guidance to 6.05–6.35 EPS.
• The company announced a quarterly dividend of $0.63 per share, or $2.52 annually, for a yield of 4.4%. Analysts currently have a consensus rating of Hold with an average price target of $61.31.

First Horizon Corp grew its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 72.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,395 shares of the biopharmaceutical company's stock after buying an additional 89,074 shares during the period. First Horizon Corp's holdings in Bristol Myers Squibb were worth $12,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Kestra Advisory Services LLC lifted its holdings in Bristol Myers Squibb by 21.9% in the first quarter. Kestra Advisory Services LLC now owns 239,312 shares of the biopharmaceutical company's stock valued at $14,514,000 after buying an additional 42,995 shares during the period. Munich Reinsurance Co Stock Corp in Munich grew its holdings in Bristol Myers Squibb by 412.8% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 316,534 shares of the biopharmaceutical company's stock worth $19,198,000 after acquiring an additional 254,813 shares during the period. Capstone Capital Management Ltd bought a new position in shares of Bristol Myers Squibb in the 1st quarter worth about $448,000. W Advisors LLC raised its position in shares of Bristol Myers Squibb by 1.3% in the 1st quarter. W Advisors LLC now owns 18,211 shares of the biopharmaceutical company's stock worth $1,105,000 after acquiring an additional 232 shares in the last quarter. Finally, Seelaus Asset Management LLC lifted its stake in shares of Bristol Myers Squibb by 2.7% in the 1st quarter. Seelaus Asset Management LLC now owns 7,271 shares of the biopharmaceutical company's stock valued at $441,000 after purchasing an additional 193 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Performance

BMY stock opened at $57.89 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $62.89. The firm has a market cap of $118.21 billion, a PE ratio of 16.26, a P/E/G ratio of 0.16 and a beta of 0.23. The business has a 50 day moving average of $56.83 and a 200-day moving average of $57.62. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.16. The company had revenue of $11.49 billion during the quarter, compared to analyst estimates of $10.93 billion. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. Bristol Myers Squibb's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.32 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 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 4.4%. The ex-dividend date of this dividend is Thursday, July 2nd. Bristol Myers Squibb's payout ratio is presently 70.79%.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: Bristol Myers Squibb was added to the Russell 1000 Defensive and Russell 1000 Value-Defensive indexes, which could broaden support from defensive and income-focused funds and reinforce its appeal as a lower-volatility dividend stock. Is Bristol Myers Squibb’s Shift Into Value-Defensive Indices Reshaping The Investment Case For BMY?
• Positive Sentiment: The company’s QUILS lung cancer detection initiative is expanding beyond Kentucky into other high-risk states, highlighting Bristol Myers Squibb’s broader oncology focus and potential reputational benefits for its public-health efforts. Bristol Myers Squibb (BMY) Expands QUILS Lung Cancer Detection Model Beyond Kentucky

Analysts Set New Price Targets

Several research firms recently commented on BMY. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $54.00 target price on shares of Bristol Myers Squibb in a research note on Monday. Weiss Ratings reissued a "hold (c+)" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 2nd. Citigroup reaffirmed a "neutral" rating on shares of Bristol Myers Squibb in a research report on Friday, May 1st. HSBC lifted their price objective on shares of Bristol Myers Squibb from $53.00 to $60.00 and gave the company a "hold" rating in a research note on Tuesday, March 17th. Finally, Bank of America dropped their target price on shares of Bristol Myers Squibb from $68.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and a consensus price target of $61.31.

About Bristol Myers Squibb

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.

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.