Overview
- Morningstar’s Dave Sekera named Bristol-Myers Squibb one of the top deep-value stocks, citing a five-star rating, roughly a 33% discount to fair value, a 5.6% dividend yield, and a sub‑8x multiple on its earnings estimate.
- Sekera said upcoming patent expirations are incorporated in Morningstar’s model and argued the market is giving little credit to the company’s pipeline or potential label expansions.
- PGIM Jennison reported it exited its position after first‑quarter results in 2025, pointing to negative updates on Camzyos and Cobenfy and a slightly disappointing quarter that preceded share weakness.
- The fund outlined key timelines: Revlimid faces full generic entry in 2026, Eliquis has IRA price cuts from January 1, 2026 and generics in 2028/29, and Opdivo encounters biosimilars starting in 2029, with a new subcutaneous Opdivo intended to defend share.
- A same‑day Seeking Alpha analysis also argued the shares are undervalued, highlighting a low P/E, high free‑cash‑flow yield, and an approximately 5.7% dividend.