Primecap Management Co. CA Makes New Investment in Bristol Myers Squibb Company $BMY

Primecap Management Co. CA purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY) during the 2nd quarter, Holdings Channel reports. The fund purchased 24,923,900 shares of the biopharmaceutical company’s stock, valued at approximately $1,436,115,000. Bristol Myers Squibb accounts for approximately 0.8% of Primecap Management Co. CA’s investment portfolio, making the stock its 25th biggest holding.

A number of other hedge funds have also modified their holdings of BMY. BlackRock Inc. increased its position in Bristol Myers Squibb by 5.1% during the second quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after buying an additional 8,702,106 shares in the last quarter. State Street Corp increased its position in Bristol Myers Squibb by 1.4% during the 4th quarter. State Street Corp now owns 97,980,438 shares of the biopharmaceutical company’s stock worth $5,285,065,000 after purchasing an additional 1,385,206 shares in the last quarter. Geode Capital Management LLC raised its stake in Bristol Myers Squibb by 13.1% in the 4th quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company’s stock valued at $2,837,026,000 after purchasing an additional 6,084,046 shares during the last quarter. Norges Bank purchased a new position in Bristol Myers Squibb in the 4th quarter valued at about $1,947,272,000. Finally, AQR Capital Management LLC boosted its stake in shares of Bristol Myers Squibb by 172.6% during the 4th 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. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Up 0.9%

BMY stock opened at $67.86 on Wednesday. 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 company has a market cap of $138.62 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.17 and a beta of 0.22. The business has a fifty day simple moving average of $61.01 and a 200-day simple moving average of $59.54. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The firm had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.95 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 2nd were issued 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 payout ratio is presently 55.51%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMY. Jefferies Financial Group downgraded shares of Bristol Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, July 27th. TD Cowen began coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a “buy” rating for the company. Piper Sandler started coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They set an “overweight” rating on the stock. Finally, Wall Street Zen upgraded Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.