Legal & General Group Plc Acquires New Holdings in Bristol Myers Squibb Company $BMY

Legal & General Group Plc purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 17,022,940 shares of the biopharmaceutical company’s stock, valued at approximately $980,862,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Norges Bank purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at about $1,947,272,000. AQR Capital Management LLC lifted its position in Bristol Myers Squibb by 172.6% during the fourth quarter. AQR Capital Management LLC now owns 25,796,905 shares of the biopharmaceutical company’s stock valued at $1,391,485,000 after acquiring an additional 16,332,924 shares during the last quarter. BlackRock Inc. boosted its stake in Bristol Myers Squibb by 5.1% in the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after acquiring an additional 8,702,106 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Bristol Myers Squibb by 47.0% in the fourth quarter. Bank of New York Mellon Corp now owns 24,495,875 shares of the biopharmaceutical company’s stock worth $1,321,308,000 after purchasing an additional 7,837,485 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Bristol Myers Squibb by 13.1% during the fourth quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company’s stock worth $2,837,026,000 after purchasing an additional 6,084,046 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Up 0.4%

BMY stock opened at $67.30 on Tuesday. The firm’s fifty day simple moving average is $60.77 and its 200-day simple moving average is $59.47. The company has a market capitalization of $137.47 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.17 and a beta of 0.22. 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 Company has a 12 month low of $42.52 and a 12 month high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last issued its 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 analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.7%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 55.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Guggenheim reissued a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Citigroup reaffirmed a “neutral” rating and set a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, August 3rd. TD Cowen assumed coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a “buy” rating for the company. UBS Group downgraded Bristol Myers Squibb from a “buy” rating to a “neutral” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bristol Myers Squibb has a consensus rating of “Moderate Buy” and a consensus price target of $66.06.

Bristol Myers Squibb 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.