Bristol-Myers Squibb Company (BMY)

Bristol Myers Squibb's stock price has been impacted by several events in the past six months. The stock was up 9.29% over the past 30 days and 7.96% for the past 12 months as of February 6, 2026. Shares rose after the company announced better-than-expected revenue and earnings for Q4 2025, with revenue reaching $12.5 billion and adjusted EPS of $1.26. The company provided a 2026 revenue guidance of $46-$47.5 billion and completed a $10 billion debt paydown ahead of schedule. Eliquis sales missed expectations for the quarter, but the company projects 10-15% growth for Eliquis in 2026. Eliquis is expected to face headwinds in 2027 due to ex-U.S. patent expirations.

Bristol Myers Squibb experiences some demand seasonality for its products. Management anticipates a "typical Q1 sequential revenue decrease" each year due to seasonal inventory destocking that follows the build-up in the fourth quarter. Eliquis revenue is expected to trend higher in the second half of 2026 compared to the first half. The company is also preparing for a significant step-down in Eliquis sales in 2027, primarily due to the loss of exclusivity in Europe.

Bristol Myers Squibb is a multinational pharmaceutical company involved in the discovery, development, and sale of biopharmaceutical products. It focuses on providing solutions in oncology, hematology, immunology, cardiovascular, and neuroscience, with a product portfolio including small molecules, biologics, and CAR-T cell therapies. Major products include Apixaban (Eliquis), Nivolumab (Opdivo), Lenalidomide (Revlimid), Abatacept (Orencia), Pomalidomide (Pomalyst/Imnovid), Ipilimumab (Yervoy), and Luspatercept (Reblozyl). Other marketed products include ABECMA, ABRAXANE, AUGTYRO, BREYANZI, BARACLUDE, CAMZYOS, COBENFY, EMPLICITI, EVOTAZ, IDHIFA, INREBIC, ISTODAX, KENALOG, KRAZATI, NULOJIX, ONUREG, OPDUALAG, REYATAZ, SOTYKTU, SPRYCEL, THALOMID, VIDAZA, and ZEPOSIA.

Bristol Myers Squibb has a significant global presence, with 71% of its 2024 revenues generated from the United States. The company operates R&D sites in the U.S., Spain, Belgium, Tokyo, Hyderabad, Bangalore, and the United Kingdom. Manufacturing facilities are located in the U.S., Puerto Rico, Europe, China, and Japan. The U.S. market has shown improved asset efficiency, while the international segment has experienced a decline in asset turnover from its peak in 2021 through 2024.

Bristol Myers Squibb's brand reputation has been shaped by its mission to deliver innovative medicines and its recognition as an employer. The company has been listed on Forbes' "World's Top Companies for Women" (2025), "World's Best Employers" (2025), "America's Best Employers For Company Culture" (2025), and "America's Best Employers for Diversity" (2024). However, the company has faced past legal and ethical challenges that have impacted its reputation, including lawsuits related to antitrust violations, delayed drug approvals, and allegations of failing to warn patients about reduced effectiveness of drugs.

Institutional investors hold the majority of Bristol Myers Squibb's shares. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., State Street Corp., JPMorgan Chase & Co, Charles Schwab Investment Management Inc., VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, Geode Capital Management, Llc, Ameriprise Financial Inc, and Capital International Investors. These institutions collectively hold a substantial number of shares, influencing the company's voting power and governance.