Primecap Management Co. CA Takes $1.44 Billion Position in Bristol Myers Squibb Company $BMY

Key Points

• Primecap Management acquired 24.9 million Bristol Myers Squibb shares worth approximately $1.44 billion, giving it a 1.22% ownership stake and making BMY its 25th-largest portfolio position.
• Bristol Myers Squibb reported quarterly earnings of $2.04 per share and revenue of $12.97 billion, beating analyst expectations; revenue increased 5.7% year over year. The company issued fiscal 2026 EPS guidance of $6.75–$7.00.
• BMY shares recently traded near $67.86, while analysts maintain a “Moderate Buy” consensus rating with a $66.06 average price target. The company also pays a quarterly dividend of $0.63, equivalent to a 3.7% annual yield.

Primecap Management Co. CA purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,923,900 shares of the biopharmaceutical company's stock, valued at approximately $1,436,115,000. Bristol Myers Squibb comprises about 0.8% of Primecap Management Co. CA's investment portfolio, making the stock its 25th biggest position. Primecap Management Co. CA owned about 1.22% of Bristol Myers Squibb at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its position in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares during the last quarter. Sivia Capital Partners LLC raised its position in Bristol Myers Squibb by 59.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,477 shares of the biopharmaceutical company's stock worth $346,000 after buying an additional 2,786 shares during the last quarter. United Bank lifted its stake in shares of Bristol Myers Squibb by 15.0% in the 2nd quarter. United Bank now owns 25,148 shares of the biopharmaceutical company's stock worth $1,164,000 after acquiring an additional 3,277 shares during the period. Marshall Wace LLP acquired a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth $221,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Bristol Myers Squibb in the second quarter valued at about $405,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Up 0.9%

BMY stock opened at $67.86 on Wednesday. The company has a market cap of $138.62 billion, a P/E ratio of 14.95, a P/E/G 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 $68.64. The company's 50-day moving average price is $61.01 and its 200 day moving average price is $59.54. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm'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. On average, research analysts expect that Bristol Myers Squibb Company will post 6.95 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed 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 presently 55.51%.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. BMO Capital Markets reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. Bank of America lowered their price objective on Bristol Myers Squibb from $67.00 to $66.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Piper Sandler initiated coverage on Bristol Myers Squibb in a research report on Wednesday, August 5th. They set an "overweight" rating on the stock. Sanford C. Bernstein raised Bristol Myers Squibb from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 5th. Finally, Raymond James Financial initiated coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a "strong-buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.06.

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.

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