Bristol-Myers Squibb Company (BMY) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Bristol Myers Squibb (BMY) by buying shares or fractional shares at any major broker, through an ETF that holds it (XLV, PJP, IHE, VOO), or as one holding in a thematic basket. Bristol Myers is a high-yield, value-priced large-cap pharma in transition: it is managing a patent cliff on legacy blockbusters (Eliquis, Opdivo, the already-eroded Revlimid) while ramping a newer portfolio (Reblozyl, Camzyos, Sotyktu, and the Karuna-acquired schizophrenia drug Cobenfy). It competes across oncology with Merck's Keytruda, Roche, and AstraZeneca.
BMY stock price
As of 2026-07-24, Bristol-Myers Squibb Company (BMY) last closed at $62.09, up 28.2% over the past year. Over the past 52 weeks it has traded between $42.60 and $62.37.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Bristol-Myers Squibb Company's investor relations page. Walnut is informational, not investment advice.
What does Bristol-Myers Squibb Company (BMY) do?
Bristol Myers Squibb is one of the largest global biopharmaceutical companies, developing and selling prescription medicines across oncology, hematology, immunology, cardiovascular, and neuroscience. It makes money primarily by selling patented branded drugs, with a portfolio that has historically leaned on blockbuster franchises such as the blood thinner Eliquis (co-marketed with Pfizer), the cancer immunotherapy Opdivo, and the multiple myeloma drug Revlimid. The company is navigating a major patent cliff as several legacy products lose exclusivity, and it is rebuilding growth through a newer portfolio that includes drugs like Reblozyl, Opdualag, Camzyos, Sotyktu, and the schizophrenia treatment Cobenfy (acquired through Karuna). Bristol Myers grows both organically through its research pipeline and through large acquisitions (Celgene, MyoKardia, Karuna, Mirati). It is headquartered in New York and operates worldwide.
What's driving Bristol-Myers Squibb Company (BMY)?
1. New product portfolio ramp.
Bristol Myers is shifting revenue weight toward a newer set of growth drivers including Reblozyl, Opdualag, Camzyos, Breyanzi, Sotyktu, and Cobenfy. Management frames these as the engine meant to offset legacy patent losses. The success of this transition, especially Cobenfy in neuropsychiatry, is central to the multi-year growth story and to whether the company can return to durable top-line expansion.
2. Oncology and immunology depth.
The company has a deep oncology franchise anchored by Opdivo plus cell therapies (Breyanzi, Abecma) and a broad immunology effort led by the oral psoriasis drug Sotyktu. Expanding indications, subcutaneous formulations (Opdivo Qvantig), and combination regimens can extend the life and reach of these franchises, supporting revenue even as older products fade.
3. Pipeline and disciplined dealmaking.
Bristol Myers has a history of large, focused acquisitions (Celgene, MyoKardia, Karuna, Mirati, RayzeBio) to add pipeline assets and new modalities such as radiopharmaceuticals. A productive late-stage pipeline plus targeted business development is how the company aims to replenish revenue and address the looming exclusivity losses on its biggest legacy products.
4. Strong cash generation.
The branded pharma model produces substantial free cash flow, which funds a meaningful dividend, share repurchases, debt reduction after acquisitions, and continued research spending. This cash engine gives management flexibility to manage the patent cliff while still investing in the next generation of medicines.
What are the risks to Bristol-Myers Squibb Company (BMY)?
The central risk is the patent cliff: Eliquis, Opdivo, and other large products face loss of exclusivity, and generic or biosimilar competition can erode revenue quickly. Revlimid has already declined under generic entry. The newer portfolio must scale fast enough to offset these losses, which is not guaranteed. Drug pricing pressure (including US Medicare negotiation under the Inflation Reduction Act, which named Eliquis), clinical trial failures, regulatory setbacks, and integration risk from large acquisitions all weigh on the outlook. High debt from dealmaking and litigation exposure add further uncertainty.
How is Bristol-Myers Squibb Company (BMY) valued? (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Bristol-Myers Squibb Company's investor relations page or your broker.
- Revenue (TTM): ~$48 billion
- Operating margin: ~20% (varies with acquisition charges)
- Net income (TTM): volatile, pressured by large acquisition write-offs
- Dividend yield: ~4-5%
- P/E (TTM): highly variable due to one-time charges; low on a forward adjusted basis
- Free cash flow: ~$13 billion annually
- Net debt: elevated following Karuna and other deals
Bristol Myers tends to trade at a low forward earnings multiple relative to large-cap pharma peers, reflecting market skepticism about its ability to replace patent-cliff revenue. The high dividend yield and strong free cash flow are the bull-case anchors, while the depressed valuation reflects the bear case that legacy declines outrun newer products.
Which ETFs hold Bristol-Myers Squibb Company (BMY)?
Who competes with Bristol-Myers Squibb Company (BMY)?
Oncology and immuno-oncology
Competes with Merck (Keytruda is the dominant rival to Opdivo), Roche, AstraZeneca, Pfizer, and Gilead across cancer immunotherapy, cell therapy, and targeted oncology.
Immunology and dermatology
Sotyktu competes with AbbVie (Skyrizi, Rinvoq), Amgen (Otezla), Johnson and Johnson, and Eli Lilly in psoriasis and broader inflammation.
Cardiovascular and neuroscience
Eliquis competes with Johnson and Johnson and Bayer (Xarelto); Cobenfy and Camzyos place Bristol Myers against neuroscience and cardiology players including Bristol's own emerging rivals in schizophrenia and cardiomyopathy.
How to invest in Bristol-Myers Squibb Company (BMY)
There are three common ways to get BMY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (SCHD, COWZ), which spreads the position across many companies. Or build it into a focused thematic basket, so BMY sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where BMY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Bristol-Myers Squibb Company (BMY)
Bristol Myers Squibb (BMY) is a cash-generative branded-drug maker whose central debate is whether its newer pipeline can outrun looming exclusivity losses. In a portfolio it behaves as a defensive, income-oriented healthcare holding with a high dividend yield and a low forward multiple that reflects patent-cliff skepticism, drug-pricing pressure, and acquisition-related debt rather than growth optimism.
More on Bristol-Myers Squibb Company (BMY)
Whether BMY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BMY a buy?, and where the stock could go from here in the BMY stock forecast.
For income investors, whether BMY pays a dividend and how the payout looks is covered in does BMY pay a dividend?
Build a basket around BMY with Walnut
Use Bristol-Myers Squibb Company as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is BMY's ticker symbol?
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BMY, listed on the New York Stock Exchange. The company is Bristol Myers Squibb, headquartered in New York City. It trades during US market hours and is available at every major US brokerage.
What does Bristol Myers Squibb do?
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Bristol Myers Squibb develops, manufactures, and sells branded prescription medicines across oncology, hematology, immunology, cardiovascular, and neuroscience. Key products include Eliquis, Opdivo, Sotyktu, Camzyos, and Cobenfy. It makes money selling patented drugs globally and grows through its pipeline and acquisitions.
Who are Bristol Myers Squibb's main competitors?
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In oncology, Merck, Roche, AstraZeneca, and Pfizer. In immunology, AbbVie, Amgen, and Eli Lilly. In cardiovascular, Johnson and Johnson and Bayer. Bristol competes broadly across large-cap biopharma.
Why does BMY have such a high dividend yield?
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Bristol Myers generates substantial free cash flow and has a long history of paying and raising its dividend, producing a yield in the ~4-5% range as of early 2026. The relatively high yield also reflects a depressed share valuation tied to patent-cliff concerns, which mathematically raises the yield.
What is the BMY patent cliff?
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Several of Bristol's largest products face loss of market exclusivity, exposing them to generic or biosimilar competition. Revlimid already declined under generics, and Eliquis and Opdivo face exclusivity erosion later this decade. The patent cliff is the central debate around the stock: whether newer drugs can offset these declines.
What is Cobenfy?
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Cobenfy is a schizophrenia treatment Bristol Myers gained through its acquisition of Karuna Therapeutics. It uses a novel mechanism distinct from older antipsychotics and is viewed as a potential major growth driver in neuropsychiatry, an area with significant unmet need.
Is BMY a Healthcare stock?
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Yes. Under GICS classification, Bristol Myers Squibb is in the Health Care sector, Pharmaceuticals industry. It is held across healthcare and pharmaceutical ETFs and in broad market index funds.
Which ETFs hold BMY?
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Broad funds like VOO, VTI, and SPY hold BMY at small weights. Sector funds such as XLV (Health Care Select Sector) and pharma-focused ETFs like PJP and IHE hold it at higher weights. Dividend ETFs sometimes include it given the yield.
Is BMY in the S&P 500?
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Yes. BMY is a long-standing S&P 500 constituent and is widely held across passive index funds tracking the index.
What is BMY's market cap?
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Approximately $90-110 billion as of early 2026, placing it among large-cap pharmaceutical companies, though below the largest peers such as Eli Lilly, Johnson and Johnson, and Merck. The market cap reflects patent-cliff concerns offset by strong cash flow.
Which thematic baskets typically include BMY?
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Bristol Myers often appears in dividend or income baskets given its yield, and in healthcare or big-pharma baskets focused on diversified drug makers. It is also used in value-oriented baskets due to its low earnings multiple.
Is BMY a good stock to buy?
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Descriptive, not a recommendation. The bull case rests on a high dividend, strong free cash flow, a low valuation, and a newer drug portfolio (Cobenfy, Sotyktu, Camzyos) meant to replace patent-cliff losses. The bear case is that legacy declines from Eliquis, Opdivo, and Revlimid outpace new growth, alongside pricing pressure and acquisition-related debt. Whether it fits any portfolio depends on individual goals and risk tolerance. Walnut is informational, not investment advice.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Bristol-Myers Squibb Company's investor relations page or your broker before making investment decisions.