Bristol-Myers Squibb Company (BMY) Stock Price & How to Invest
Last updated October 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). As of October 16, 2026 the shares closed near $60.80, up about 14% in 2026 and 40% over one year, with a dividend yield near 4.2% and a forward P/E near 9. It competes across oncology with Merck's Keytruda, Roche, and AstraZeneca.
BMY stock price
As of 2026-10-23, Bristol-Myers Squibb Company (BMY) last closed at $61.48, up 40.3% over the past year. Over the past 52 weeks it has traded between $42.60 and $68.09.
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 working through 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.
Recent results have run ahead of expectations. Bristol Myers has beaten consensus earnings estimates in each of the last four reported quarters, and Q2 2026 revenue rose about 5.7% year over year to roughly $12.97 billion while adjusted EPS of $2.04 came in well above the $1.60 consensus. Trailing twelve-month revenue is about $49.2 billion and net income about $9.3 billion, a sharp recovery from the acquisition-driven loss of 2024. In October 2026 the company reported Phase 3 results for admilparant, an oral LPA1 antagonist for idiopathic pulmonary fibrosis: in the ALOFT-IPF study the 60 mg dose met its primary endpoint while the 120 mg dose missed statistical significance, a mixed readout that sent the shares lower even as UBS kept a Buy rating and argued the drug remains viable.
As of October 16, 2026 BMY closed near $60.80, for a market cap near $124 billion, up about 14% year to date and 40% over one year, though roughly flat over three months and below a 52-week high near $68.64. The stock trades near 13 times trailing and 9 times forward earnings, with a dividend of $2.52 per share a year. Q3 2026 results are scheduled for October 29, 2026, with consensus at about $1.34 adjusted EPS on roughly $12.7 billion of revenue.
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. Q2 2026 revenue growth of about 5.7% suggests the newer products are carrying more of the load, though consensus still expects 2027 revenue to dip slightly, to about $48.5 billion from about $49.9 billion in 2026.
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. October 2026 coverage also pointed to a positive late-stage readout in a rare cancer alongside the lung-disease data.
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. Admilparant shows both sides of that bet: the 60 mg dose succeeded in idiopathic pulmonary fibrosis, the higher dose did not, and the next questions are how regulators read a split result and whether the drug reaches the larger progressive pulmonary fibrosis market.
4. Strong cash generation.
The branded pharma model produces substantial cash, with about $12.8 billion of operating cash flow and about $8.1 billion of free cash flow over the trailing twelve months on Yahoo's figures. That funds a dividend of $2.52 per share a year (a payout near 55% of trailing earnings), 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, and consensus already pencils in flat to lower revenue and EPS in 2027. 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; the split admilparant readout in October 2026, which also came with protocol changes and a patient death the company said was likely unrelated, is a reminder of how quickly pipeline news can move the stock. Debt of about $45 billion against about $11 billion of cash, and litigation exposure, add further uncertainty.
What is the Bristol-Myers Squibb Company (BMY) forecast?
24 analysts publish price targets on BMY, averaging $65.62 against a $59.75 price as of October 2026, or +9.8%. The published targets run from $41.00 to $82.00, a moderate spread, and the ratings split 10 buy, 17 hold, 1 sell. Over the last six months there have been 8 raises and 3 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full BMY forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is BMY a buy or a sell?
We give no verdict on Bristol-Myers Squibb Company. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. 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. The most optimistic published target, $82.00, assumes this works close to its best case.
The case against. 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. The most pessimistic target, $41.00, is roughly what BMY is worth if this bites instead.
Read the full bull and bear case on BMY, including what would have to change to break either one. Walnut is not an investment adviser.
Has Bristol-Myers Squibb Company (BMY) split its stock?
No. Bristol-Myers Squibb Company (BMY) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.
How is Bristol-Myers Squibb Company (BMY) valued? (approximate, October 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): ~$49.2 billion (Q2 2026 up ~5.7% YoY)
- Q2 2026 adjusted EPS: $2.04 vs $1.60 consensus
- Operating margin: ~34%
- Net income (TTM): ~$9.3 billion
- P/E trailing / forward: ~13x / ~9x
- Dividend yield: ~4.2% ($2.52/share)
- Free cash flow (TTM): ~$8.1 billion
- Market cap: ~$124 billion
At about $60.80 on October 16, 2026, Bristol Myers trades near 9 times forward earnings, still low relative to large-cap pharma peers, which reflects market skepticism about replacing patent-cliff revenue even after a 40% one-year rally. The 4.2% dividend yield and strong cash flow are the bull-case anchors, while consensus for roughly flat 2027 EPS (about $6.62 versus $6.65 for 2026) captures the bear case. The 24 analysts in Yahoo's consensus carry a mean target near $66, and Q3 2026 results arrive on October 29.
Which ETFs hold Bristol-Myers Squibb Company (BMY)?
If you want BMY exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
What themes does Bristol-Myers Squibb Company (BMY) fit?
These are the investment theses BMY naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
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, dermatology and fibrosis
Sotyktu competes with AbbVie (Skyrizi, Rinvoq), Amgen (Otezla), Johnson and Johnson, and Eli Lilly in psoriasis and broader inflammation. In idiopathic pulmonary fibrosis, admilparant would face Boehringer Ingelheim, whose Jascayd is the benchmark UBS compared it against.
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.
What stocks are similar to Bristol-Myers Squibb Company (BMY)?
Other names that sit close to BMY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
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 (SPYD, FDL), which spreads the position across many companies. Or build it into a focused thematic portfolio, so BMY sits alongside other stocks that express the same thesis.
Walnut takes the portfolio 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 dividend yield near 4.2% and a forward multiple near 9 in October 2026, a valuation that still reflects patent-cliff skepticism, drug-pricing pressure, and acquisition-related debt even after a 40% one-year rally on better-than-expected earnings.
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 or a sell?, 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? And to weigh BMY against a peer, read the full side-by-side comparisons: BMY vs ABBV and BMY vs ABT.
Wondering how BMY fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Bristol-Myers Squibb Company with AI
Connect the broker you already use and ask Walnut's AI how BMY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
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, which stands at $2.52 per share a year, a yield near 4.2% as of October 16, 2026. The relatively high yield also reflects a share valuation held down by patent-cliff concerns, which mathematically raises the yield, though the 40% one-year rally has pulled it lower than it was.
How did Bristol Myers do in its latest quarter?
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In Q2 2026 Bristol Myers reported revenue of about $12.97 billion, up about 5.7% year over year, and adjusted EPS of $2.04 against a $1.60 consensus, its fourth straight quarterly beat. Net income was about $3.3 billion. Q3 2026 results are due October 29, 2026, with consensus at about $1.34 adjusted EPS on roughly $12.7 billion of revenue.
How has BMY stock performed in 2026?
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As of October 16, 2026, BMY closed near $60.80, up about 14% year to date and 40% over one year. It has been roughly flat over the past three months and slipped about 4% over the past month, including a dip after the mixed admilparant results. The 52-week range runs from about $42.52 to $68.64.
What were the admilparant Phase 3 results?
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In October 2026 Bristol Myers reported the ALOFT-IPF Phase 3 study of admilparant, an oral LPA1 antagonist for idiopathic pulmonary fibrosis. The 60 mg dose met its primary endpoint, while the 120 mg dose slowed lung-function decline but missed statistical significance. The stock fell on the split result; UBS kept a Buy rating and an $80 target, arguing the drug can still compete and that progressive pulmonary fibrosis is a larger market.
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 $124 billion as of October 16, 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 and a run of earnings beats.
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 dividend yield near 4.2%, strong free cash flow, a forward P/E near 9, a run of earnings beats, 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, pipeline setbacks, and acquisition-related debt. Whether it fits any portfolio depends on individual goals and risk tolerance. Walnut is informational, not investment advice.
Guides that feature BMY
BMY is one of the names covered in these guides. Each one puts the stock next to its peers so you can see where it fits rather than judging it alone.
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.