Mirae Asset Global Investments Co. Ltd. Makes New Investment in Bristol Myers Squibb Company $BMY

Key Points

• Mirae Asset Global Investments acquired 2.77 million Bristol Myers Squibb shares worth approximately $172.8 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 76.41% of the company.
• Bristol Myers Squibb reported third-quarter adjusted EPS of $1.35 and revenue of $13.07 billion, surpassing estimates, while revenue rose 6.9% year over year. The company raised its 2026 revenue outlook to approximately $50 billion, supported by 12% growth in its newer-product portfolio.
• The outlook remains mixed: Opdivo sales missed expectations, patent expirations threaten older blockbuster products, and adjusted earnings declined from $1.63 to $1.35 year over year. Analysts’ consensus rating is “Hold,” with an average price target of $65.46, while the company maintains a 4.0% dividend yield.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,769,316 shares of the biopharmaceutical company's stock, valued at approximately $172,805,000. Mirae Asset Global Investments Co. Ltd. owned about 0.14% of Bristol Myers Squibb at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in shares of Bristol Myers Squibb by 23.7% in the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company's stock valued at $116,693,000 after purchasing an additional 368,193 shares during the last quarter. Callan Family Office LLC bought a new position in shares of Bristol Myers Squibb during the second quarter worth approximately $3,575,000. BlackRock Inc. lifted its holdings in Bristol Myers Squibb by 5.1% during the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company's stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the last quarter. Saudi Central Bank lifted its holdings in Bristol Myers Squibb by 90.2% during the 2nd quarter. Saudi Central Bank now owns 142,922 shares of the biopharmaceutical company's stock worth $8,235,000 after purchasing an additional 67,780 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Bristol Myers Squibb by 17.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,142,754 shares of the biopharmaceutical company's stock valued at $123,465,000 after purchasing an additional 317,360 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Key Bristol Myers Squibb News

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

Analysts Set New Price Targets

A number of research analysts have commented on BMY shares. Zacks Research lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 22nd. Roth Capital assumed coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They set a "buy" rating and a $75.00 target price for the company. HSBC reissued a "hold" rating and set a $65.00 target price (up from $60.00) on shares of Bristol Myers Squibb in a report on Thursday, September 10th. Daiwa Securities Group boosted their target price on shares of Bristol Myers Squibb from $53.00 to $66.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Finally, Piper Sandler decreased their price target on shares of Bristol Myers Squibb from $82.00 to $78.00 and set an "overweight" rating on the stock in a research note on Monday, October 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $65.46.

Insider Activity

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

Bristol Myers Squibb Trading Up 1.7%

Shares of NYSE:BMY opened at $62.46 on Friday. The company has a market capitalization of $127.59 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.33 and a beta of 0.19. Bristol Myers Squibb Company has a 1 year low of $45.20 and a 1 year high of $68.64. 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 business's 50 day simple moving average is $62.80 and its 200 day simple moving average is $59.94.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a return on equity of 62.78% and a net margin of 18.47%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same period in the prior year, the firm posted $1.63 EPS. Bristol Myers Squibb's quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.40 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, October 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 55.88%.

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.

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.