Bristol Myers Squibb (NYSE:BMY) Releases Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Bristol Myers Squibb (NYSE:BMY) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported $2.04 EPS for the quarter, topping 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 business had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same period last year, the business posted $1.46 earnings per share. Bristol Myers Squibb’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

NYSE BMY traded up $1.88 during trading on Thursday, hitting $64.98. 18,018,696 shares of the stock traded hands, compared to its average volume of 12,268,565. The firm has a 50-day simple moving average of $57.79 and a 200-day simple moving average of $58.22. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $65.56. The company has a market capitalization of $132.70 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 2.10.

Bristol Myers Squibb Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on BMY. Cantor Fitzgerald restated a “neutral” rating and set a $54.00 price target on shares of Bristol Myers Squibb in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Bristol Myers Squibb from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Guggenheim reissued a “buy” rating and set a $72.00 price target on shares of Bristol Myers Squibb in a research report on Wednesday, April 8th. Bank of America reduced their price objective on Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Finally, Raymond James Financial restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.25.

Institutional Trading of Bristol Myers Squibb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Bristol Myers Squibb by 2.0% during the 3rd quarter. State Street Corp now owns 96,595,232 shares of the biopharmaceutical company’s stock valued at $4,356,445,000 after acquiring an additional 1,855,238 shares during the period. AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 16,332,924 shares during the last quarter. Primecap Management Co. CA increased its stake in Bristol Myers Squibb by 12.6% in the 4th quarter. Primecap Management Co. CA now owns 24,875,550 shares of the biopharmaceutical company’s stock worth $1,341,787,000 after buying an additional 2,781,230 shares during the period. Dimensional Fund Advisors LP grew its stake in Bristol Myers Squibb by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,242,259 shares of the biopharmaceutical company’s stock worth $984,070,000 after acquiring an additional 98,587 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Bristol Myers Squibb by 3.2% during the fourth quarter. Schroder Investment Management Group now owns 12,554,362 shares of the biopharmaceutical company’s stock valued at $680,572,000 after acquiring an additional 385,371 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb News Roundup

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

• Positive Sentiment: Quarterly results exceeded expectations. BMY reported adjusted earnings of $2.04 per share versus the $1.60 consensus estimate, while revenue rose 5.7% year over year to $12.97 billion, well ahead of the $11.74 billion forecast. Earnings also increased from $1.46 per share in the prior-year quarter. Reuters article
• Positive Sentiment: Management raised its 2026 outlook. The company now expects adjusted EPS of $6.75–$7.00 and revenue of $49 billion–$50 billion, above analyst expectations of approximately $6.31 EPS and $47.3 billion in revenue. Wall Street Journal article
• Positive Sentiment: Growth products are helping offset patent-related pressure. Strong demand for Eliquis, along with newer treatments including Camzyos, Reblozyl, Opdivo Qvantig and Breyanzi, supported the quarter. Investors are increasingly focused on whether these products can replace declining legacy-drug revenue. Quartz article
• Positive Sentiment: Valuation remains attractive to some analysts. A bullish view highlighted BMY’s low forward valuation and roughly 4% dividend yield, while Piper Sandler maintained a Buy rating. Seeking Alpha article
• Neutral Sentiment: Analyst opinion remains mixed: strong results and a better Eliquis outlook were balanced by a Hold rating reflecting legacy-product declines and delays or uneven performance among pipeline assets. TipRanks article
• Negative Sentiment: Put-option trading was unusually heavy, with 44,620 puts purchased—about 77% above average—signaling that some traders are hedging against a pullback or taking a bearish view despite the earnings beat.

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.