Principal Financial Group Inc. Has $146.90 Million Stake in Bristol Myers Squibb Company $BMY

Principal Financial Group Inc. grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 9.8% in the second quarter, Holdings Channel reports. The institutional investor owned 2,549,445 shares of the biopharmaceutical company’s stock after purchasing an additional 227,527 shares during the period. Principal Financial Group Inc.’s holdings in Bristol Myers Squibb were worth $146,899,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Swiss RE Ltd. bought a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $25,000. Physician Wealth Advisors Inc. increased its position in shares of Bristol Myers Squibb by 73.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 202 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb in the second quarter valued at $25,000. Bayban acquired a new position in shares of Bristol Myers Squibb in the fourth quarter valued at $31,000. Finally, EQ Wealth Advisors LLC bought a new position in Bristol Myers Squibb in the fourth quarter worth $32,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Bristol Myers Squibb from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Truist Financial reiterated a “buy” rating and set a $70.00 target price (up from $65.00) on shares of Bristol Myers Squibb in a research report on Friday, July 31st. Guggenheim reissued a “buy” rating and issued a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Sanford C. Bernstein raised shares of Bristol Myers Squibb from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price target on shares of Bristol Myers Squibb from $60.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.06.

Key Stories Impacting Bristol Myers Squibb

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

• Positive Sentiment: The U.S. FDA granted accelerated approval to ZENBEXUS, Bristol Myers Squibb’s first CELMoD therapy, in combination with daratumumab, hyaluronidase-fihj and dexamethasone for multiple myeloma patients as early as first relapse. The approval is strategically important because CELMoD drugs could help extend and rejuvenate the company’s important blood-cancer franchise. Bristol Myers wins milestone FDA approval of myeloma drug acquired from Celgene
• Positive Sentiment: Zacks Research raised its Bristol Myers Squibb EPS outlook for fiscal 2027 to $6.20 from $5.93. It also increased estimates for the fourth quarter of 2026, the first and second quarters of 2027, and the first two quarters of 2028, suggesting improved analyst expectations for earnings momentum.
• Positive Sentiment: The company expanded its kidney-disease pipeline with a Phase 1 study of golcadomide, providing another potential long-term growth opportunity beyond its established oncology products. Bristol-Myers Squibb expands kidney pipeline with new golcadomide renal study
• Neutral Sentiment: Rumors of a potential AstraZeneca-Bristol Myers Squibb merger have generated investor concern. Although a transaction could create a sizable oncology-focused pharmaceutical company, the strategic, financial and execution risks remain uncertain, and no deal was confirmed. Reported AstraZeneca-Bristol Myers Squibb megamerger
• Negative Sentiment: A federal appeals court revived a $6.7 billion lawsuit alleging Bristol Myers Squibb delayed approval of drugs acquired through Celgene, including Breyanzi. The case could create substantial financial liability and legal uncertainty. Lawsuit against Bristol Myers over delayed cancer drug is revived

Bristol Myers Squibb Stock Down 1.2%

Shares of NYSE:BMY opened at $63.86 on Friday. The company’s fifty day moving average is $59.56 and its 200-day moving average is $58.97. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $68.10. The company has a market capitalization of $130.45 billion, a PE ratio of 14.07, a P/E/G ratio of 0.17 and a beta of 0.22.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter last year, the company posted $1.46 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.95 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed 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 of this dividend was Thursday, July 2nd. This represents a $2.52 annualized dividend and a dividend yield of 3.9%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 55.51%.

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.