Bristol Myers Squibb (NYSE:BMY) Stock Price Up 4% – Time to Buy?

Bristol Myers Squibb Company (NYSE:BMY)’s stock price rose 4% on Wednesday. The company traded as high as $58.75 and last traded at $58.9130. Approximately 5,034,184 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 12,044,291 shares. The stock had previously closed at $56.67.

Bristol Myers Squibb News Summary

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

• Positive Sentiment: Two Phase 3 successes strengthen the pipeline. BMY reported that RYZ101, a radiopharmaceutical treatment for advanced gastroenteropancreatic neuroendocrine tumors, improved progression-free survival in the ACTION-1 trial. The company also said admilparant met the primary endpoint at a lower dose in idiopathic pulmonary fibrosis, supporting discussions with regulators. Bristol Myers Squibb Announces Positive Topline Results from the Interim Analysis of Phase 3 ACTION-1
• Positive Sentiment: Investors see potential diversification ahead of a major patent cliff. BMY is making a roughly $4.1 billion investment in radiopharmaceutical cancer drugs, while the new trial data could help offset future pressure from generic competition to established products. Bristol Myers Stock Is Rising on a Double Dose of Good News
• Positive Sentiment: Income and valuation remain supportive. Financial articles continue to highlight BMY as a dividend payer that has maintained distributions through difficult industry conditions. Its approximately 13 price-to-earnings ratio may also appeal to value-oriented investors. Truist maintained a Buy rating. Truist Financial Sticks to Its Buy Rating for Bristol-Myers Squibb
• Neutral Sentiment: Analyst opinion is mixed. While Truist remains constructive, Wells Fargo lowered its price target from $65 to $60 and assigned an Equal Weight rating, implying limited upside from recent trading levels. Wells Fargo Lowers Bristol Myers Squibb Price Target
• Negative Sentiment: The lung-drug results were not uniformly positive. Only the lower admilparant dose met the primary endpoint, while the higher dose did not, creating uncertainty about the treatment’s prospects. Investors are also preparing for expectations that third-quarter earnings may decline by a single-digit percentage. Bristol Myers Dips on Confounding Lung Drug Results

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BMY shares. The Goldman Sachs Group restated a “neutral” rating and set a $63.00 price objective (up from $61.00) on shares of Bristol Myers Squibb in a report on Wednesday, September 23rd. 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 research note on Wednesday, August 5th. Weiss Ratings raised shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday. Finally, Raymond James Financial initiated coverage on shares of Bristol Myers Squibb in a research note on Wednesday, August 5th. They set a “strong-buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.88.

Bristol Myers Squibb Stock Up 4.6%

The company has a market cap of $121.10 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.28 and a beta of 0.19. The company has a 50 day moving average of $63.81 and a 200-day moving average of $60.28. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.44. The firm had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities analysts predict that Bristol Myers Squibb Company will post 6.70 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.3%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 55.51%.

Insider Buying and Selling at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the business’s 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 completion of the sale, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. The trade was a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Bristol Myers Squibb

A number of large investors have recently bought and sold shares of the stock. Boltwood Capital Management lifted its holdings in Bristol Myers Squibb by 2.5% in the 3rd quarter. Boltwood Capital Management now owns 7,107 shares of the biopharmaceutical company’s stock worth $443,000 after purchasing an additional 170 shares during the last quarter. Sandy Cove Advisors LLC raised its position in shares of Bristol Myers Squibb by 4.7% in the second quarter. Sandy Cove Advisors LLC now owns 3,932 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 176 shares during the period. Key Financial Inc lifted its stake in shares of Bristol Myers Squibb by 2.4% in the first quarter. Key Financial Inc now owns 7,939 shares of the biopharmaceutical company’s stock worth $482,000 after buying an additional 183 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Bristol Myers Squibb by 29.8% in the first quarter. Cornerstone Planning Group LLC now owns 801 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 184 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Bristol Myers Squibb by 10.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,933 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 184 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.