Bristol Myers Squibb (NYSE:BMY) Issues Earnings Results

Bristol Myers Squibb (NYSE:BMY) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.44, FiscalAI reports. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. The company had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Bristol Myers Squibb updated its FY 2026 guidance to 6.750-7.000 EPS.

Here are the key takeaways from Bristol Myers Squibb’s conference call:

• Second-quarter results exceeded expectations: Revenue increased 5% to approximately $13 billion, with the growth portfolio up 14% to $7.6 billion and adjusted EPS of $2.04. Management raised its full-year 2026 revenue and adjusted EPS guidance.
• Growth was broad-based, led by ELIQUIS demand growth of 21%, BREYANZI growth of 41%, CAMZYOS growth of 59%, REBLOZYL growth of 29%, and continued momentum for Sotyktu and Opdivo Qvantig. Management now expects ELIQUIS revenue growth of 20%-25% for 2026.
• The company highlighted multiple potential pipeline catalysts, including late-2026 readouts for amilparant, Sotyktu in lupus, milvexian in secondary stroke prevention, and several oncology programs. Iberdomide’s FDA decision is expected August 17, 2026, while mezigdomide has a May 2027 PDUFA date.
• Timelines for important studies have moved later: milvexian’s atrial-fibrillation readout is now expected in the first quarter of 2027, while COBENFY’s ADEPT program readouts will begin in early 2027 and extend through the year. Management attributed the delays to slower event accrual and efforts to preserve study quality, while maintaining confidence in the programs.
• Bristol Myers Squibb reported approximately $3.4 billion in second-quarter operating cash flow, $11.5 billion in cash and marketable securities, and another $1.2 billion of debt repayment. Productivity savings and financial flexibility are supporting continued pipeline investment, potential business development, and shareholder returns.

Bristol Myers Squibb Price Performance

BMY traded up $0.08 during trading on Friday, reaching $64.94. The stock had a trading volume of 5,394,301 shares, compared to its average volume of 12,217,753. The business has a 50-day moving average of $57.90 and a 200-day moving average of $58.29. Bristol Myers Squibb has a one year low of $42.52 and a one year high of $65.66. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.28 and a current ratio of 1.42. The stock has a market cap of $132.61 billion, a PE ratio of 18.22, a PEG ratio of 0.18 and a beta of 0.23.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be given a $0.63 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 3.9%. Bristol Myers Squibb’s payout ratio is 70.79%.

Key Headlines Impacting Bristol Myers Squibb

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

• Positive Sentiment: Q2 results exceeded expectations. Bristol Myers reported adjusted earnings of $2.04 per share versus the $1.60 analyst consensus, while revenue reached $12.97 billion, ahead of estimates near $11.74 billion and up 5.7% year over year. Bristol Myers raises 2026 forecast as Eliquis, newer medicines power results
• Positive Sentiment: Management raised its full-year outlook. BMY now expects 2026 adjusted EPS of $6.75–$7.00 and revenue of $49 billion–$50 billion, both above Wall Street expectations. The higher guidance signals confidence that recent product momentum can offset continuing pressure on older drugs. BMY Q2 Earnings Beat Estimates, ’26 View Raised, Stock Up
• Positive Sentiment: The growth portfolio is gaining importance. Newer medicines—including Eliquis, Camzyos, Reblozyl, Opdivo Qvantig and Breyanzi—drove results. The growth portfolio now represents about 60% of revenue, with Eliquis sales reportedly rising 21% and the portfolio overall increasing 14%. Bristol-Myers Squibb Q2 2026 Earnings Call Transcript
• Positive Sentiment: Analyst support improved. Truist reaffirmed its Buy rating and raised its price target to $70 from $65, implying additional upside based on the cited recent trading level. Bristol Myers Squibb analyst rating update
• Neutral Sentiment: Valuation has returned to focus after BMY’s strong rally. Some analysts view the shares as inexpensive relative to large-pharmaceutical peers, while William Blair maintained a Hold rating because of ongoing execution risks.
• Negative Sentiment: Risks remain in the pipeline and legacy portfolio. Opdivo declined, older products face patent expirations, and readouts for Milvexian and Cobenfy were delayed. Elevated put-option activity also indicates that some traders are positioning defensively, though it is not proof of a fundamental deterioration.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday. Wells Fargo & Company set a $65.00 price target on Bristol Myers Squibb and gave the company an “equal weight” rating in a research report on Friday. Citigroup restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Friday, May 1st. Weiss Ratings lowered shares of Bristol Myers Squibb from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 16th. Finally, Truist Financial reiterated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Bristol Myers Squibb in a research note on Friday. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.38.

Hedge Funds Weigh In On Bristol Myers Squibb

Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Bristol Myers Squibb by 172.6% in the fourth quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company’s stock worth $1,391,485,000 after buying an additional 16,332,924 shares in the last quarter. Man Group plc lifted its holdings in shares of Bristol Myers Squibb by 280.4% in the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock worth $345,594,000 after acquiring an additional 5,503,391 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Bristol Myers Squibb by 530.6% in the 3rd quarter. Two Sigma Investments LP now owns 5,453,357 shares of the biopharmaceutical company’s stock valued at $245,946,000 after purchasing an additional 4,588,601 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Bristol Myers Squibb by 12.6% during the 4th quarter. Primecap Management Co. CA now owns 24,875,550 shares of the biopharmaceutical company’s stock valued at $1,341,787,000 after purchasing an additional 2,781,230 shares during the last quarter. Finally, Deerfield Management Company L.P. purchased a new position in Bristol Myers Squibb in the 3rd quarter worth $105,433,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Company 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.