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

Bristol Myers Squibb (NYSE:BMY) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.44, FiscalAI reports. The business had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a return on equity of 69.75% and a net margin of 18.87%.Bristol Myers Squibb’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 earnings per share. 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 Stock Up 0.9%

BMY traded up $0.57 during midday trading on Friday, hitting $65.44. 14,572,071 shares of the company’s stock traded hands, compared to its average volume of 10,288,911. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.42 and a quick ratio of 1.28. The company has a market cap of $133.62 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.18 and a beta of 0.23. The stock’s fifty day simple moving average is $58.02 and its 200-day simple moving average is $58.34. Bristol Myers Squibb has a one year low of $42.52 and a one year high of $65.66.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a $0.63 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 3.9%. Bristol Myers Squibb’s dividend payout ratio is currently 55.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMY. Cantor Fitzgerald restated a “neutral” rating and set a $59.00 price objective (up from $54.00) on shares of Bristol Myers Squibb in a research report on Friday. Raymond James Financial restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday. Weiss Ratings upgraded shares of Bristol Myers Squibb from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. 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 report on Friday. Finally, UBS Group reissued a “buy” rating on shares of Bristol Myers Squibb in a research note on Thursday, May 28th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.24.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMY. Sunbelt Securities Inc. lifted its position in shares of Bristol Myers Squibb by 7.1% in the fourth quarter. Sunbelt Securities Inc. now owns 13,313 shares of the biopharmaceutical company’s stock worth $718,000 after buying an additional 878 shares during the last quarter. Compound Planning Inc. raised its stake in shares of Bristol Myers Squibb by 104.4% in the 4th quarter. Compound Planning Inc. now owns 23,633 shares of the biopharmaceutical company’s stock valued at $1,275,000 after acquiring an additional 12,072 shares in the last quarter. TMB Capital Partners LLC acquired a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $356,000. Axxcess Wealth Management LLC boosted its position in Bristol Myers Squibb by 3.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 79,944 shares of the biopharmaceutical company’s stock worth $4,312,000 after purchasing an additional 2,475 shares during the period. Finally, Birchwood Financial Partners Inc. bought a new stake in Bristol Myers Squibb during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Trending Headlines about Bristol Myers Squibb

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

• Positive Sentiment: Strong Q2 results and raised guidance: Bristol Myers reported adjusted EPS of $2.04 versus the $1.60 consensus and revenue of $12.97 billion versus expectations of $11.74 billion. Revenue rose 5.7% year over year. Management raised 2026 EPS guidance to $6.75-$7.00 and revenue guidance to $49-$50 billion, both above Wall Street estimates. Bristol Myers raises 2026 forecast as Eliquis, newer medicines power results
• Positive Sentiment: Growth products are gaining momentum: Eliquis sales, along with newer medicines including Camzyos, Reblozyl, Opdivo Qvantig and Breyanzi, drove results. The growth portfolio now contributes roughly 60% of revenue, helping offset pressure from older products. Bristol-Myers Squibb Q2 2026 earnings call transcript
• Positive Sentiment: Several analysts raised targets: JPMorgan lifted its target from $67 to $73 and maintained an “overweight” rating, while Truist raised its target from $65 to $70 and reaffirmed “buy.” These revisions suggest analysts see additional upside following the earnings beat.
• Neutral Sentiment: Valuation is back in focus: Analysts note that BMY’s strong performance and recent rally have reduced the margin of safety, despite relatively attractive valuation and dividend support. RBC raised its target to $64 but retained a “sector perform” rating, implying the shares may remain range-bound. Bristol-Myers Squibb’s Catalyst Delays May Keep Stock Range-Bound, RBC Says
• Negative Sentiment: Pipeline timing and legacy declines remain risks: Delayed readouts or launches for Milvexian and Cobenfy, along with declines in older medicines such as Opdivo, could temper the growth outlook and postpone upcoming catalysts.
• Negative Sentiment: Bearish options activity: Traders purchased 44,620 put options, about 77% above typical daily volume, signaling increased hedging or speculation on downside risk.

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.