Bristol Myers Squibb (NYSE:BMY) Stock Rating Cut to Market Perform at Leerink Partners

Leerink Partners cut shares of Bristol Myers Squibb (NYSE:BMY) from an outperform rating to a market perform rating in a research note published on Monday morning, MarketBeat reports. They currently have $59.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $73.00.

BMY has been the topic of a number of other research reports. Truist Financial restated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Argus upgraded Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on Bristol Myers Squibb from $60.00 to $64.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Jefferies Financial Group downgraded Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Citigroup restated a “neutral” rating and issued a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $58.73 on Monday. The business’s fifty day moving average is $64.53 and its 200 day moving average is $60.26. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $68.64. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. The stock has a market cap of $119.97 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.29 and a beta of 0.19.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates 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 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 posted $1.46 EPS. Bristol Myers Squibb’s quarterly revenue was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Sell-side analysts anticipate that Bristol Myers Squibb will post 6.95 earnings per share 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 issued a dividend of $0.63 per share. The ex-dividend date is Friday, October 2nd. This represents a $2.52 annualized dividend and a yield of 4.3%. Bristol Myers Squibb’s payout ratio is 55.51%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction dated 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 owned 16,862 shares in the company, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Bristol Myers Squibb

Several institutional investors have recently modified their holdings of the business. Rosenberg Matthew Hamilton boosted its position in Bristol Myers Squibb by 10.5% in the third quarter. Rosenberg Matthew Hamilton now owns 1,933 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 184 shares during the last quarter. Eastern Bank increased its position in shares of Bristol Myers Squibb by 12.0% during the 3rd quarter. Eastern Bank now owns 31,061 shares of the biopharmaceutical company’s stock valued at $1,938,000 after purchasing an additional 3,321 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Bristol Myers Squibb by 6.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 8,951 shares of the biopharmaceutical company’s stock valued at $559,000 after purchasing an additional 532 shares during the last quarter. Boltwood Capital Management raised its stake in shares of Bristol Myers Squibb by 2.5% during 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 period. Finally, Cim Investment Management Inc. raised its stake in shares of Bristol Myers Squibb by 3.4% during the 2nd quarter. Cim Investment Management Inc. now owns 14,882 shares of the biopharmaceutical company’s stock worth $858,000 after purchasing an additional 485 shares during the period. 76.41% of the stock is owned by institutional investors.

Key Stories Impacting Bristol Myers Squibb

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

• Positive Sentiment: Attractive valuation and earnings support: BMY is trading at less than 10 times forward earnings, which could appeal to value investors. Newer medicines are increasingly offsetting pressure on older blockbuster drugs, while Zacks recently raised its EPS estimate. Bristol Myers Stock Valuation Article BMY EPS Estimate Article
• Neutral Sentiment: Mixed analyst and sector comparisons: Recent research has highlighted BMY as a value candidate and included it among stocks receiving broker-rating improvements, but other analysis is weighing it against higher-growth peers such as argenx and AbbVie. This suggests investor views remain divided. BMY Versus ARGX Article Broker Rating Upgrades Article
• Negative Sentiment: Leerink downgrade is the key market catalyst: Leerink Partners cut BMY from “outperform” to “market perform” and reduced its price target from $73 to $59, leaving limited projected upside. The downgrade reflects caution as established drugs face patent expirations and generic competition, increasing the importance of the company’s newer product portfolio. Leerink Partners Downgrade Article

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.