Legal & General Group Plc Purchases Shares of 17,022,940 Bristol Myers Squibb Company $BMY

Key Points

• Legal & General Group Plc acquired 17.02 million Bristol Myers Squibb shares worth approximately $980.9 million, representing about 0.83% of the company. Institutional investors collectively own 76.41% of BMS.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $66.06; recent targets include $73 from JPMorgan and $75 from Argus.
• Bristol Myers Squibb exceeded quarterly expectations, reporting $2.04 in EPS and $12.97 billion in revenue, while maintaining a quarterly dividend of $0.63 per share, equivalent to a 3.7% yield.

Legal & General Group Plc acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 17,022,940 shares of the biopharmaceutical company's stock, valued at approximately $980,862,000. Legal & General Group Plc owned about 0.83% of Bristol Myers Squibb as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Swiss RE Ltd. purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter worth about $25,000. Darwin Wealth Management LLC purchased a new position in Bristol Myers Squibb during the 2nd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake 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 acquiring an additional 202 shares during the last quarter. Davis Asset Management L.P. bought a new stake in Bristol Myers Squibb in the 2nd quarter worth approximately $27,000. Finally, Bayban purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Bristol Myers Squibb from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Jefferies Financial Group downgraded shares of Bristol Myers Squibb from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They set an "overweight" rating for the company. TD Cowen began coverage on shares of Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a "buy" rating for the company. Finally, Argus upgraded shares of Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.06.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $67.30 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The firm has a market capitalization of $137.47 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.17 and a beta of 0.22. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $68.64. The company's 50-day moving average is $60.77 and its 200 day moving average is $59.47.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $1.46 earnings per share. The company's revenue for the quarter 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 year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 2nd were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, July 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 55.51%.

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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