Bristol-Myers Squibb Co. (BMY) Sets New 52-Week High at $75.23
Bristol-Myers Squibb Co. (NYSE:BMY) hit a new 52-week high on Friday . The stock traded as high as $75.23 and last traded at $74.94, with a volume of 2,151,535 shares traded. The stock had previously closed at $74.08.
Several brokerages have weighed in on BMY. Barclays PLC boosted their price objective on Bristol-Myers Squibb from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, April 29th. Jefferies Group reissued a “hold” rating and set a $75.00 price objective on shares of Bristol-Myers Squibb in a research note on Thursday, May 5th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. Vetr cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $68.41 price objective on the stock. in a research note on Wednesday, March 23rd. Finally, Argus reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, May 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $73.79.
The firm has a market cap of $125.57 billion and a price-to-earnings ratio of 80.79. The stock has a 50-day moving average price of $72.19 and a 200 day moving average price of $67.27.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 28th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.09. During the same period in the previous year, the business posted $0.71 EPS. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.19 billion. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb Co. will post $2.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 1st will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.05%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 234,720 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $71.88, for a total value of $16,871,673.60. Following the completion of the transaction, the director now owns 536,794 shares of the company’s stock, valued at approximately $38,584,752.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Autenried Paul Von sold 37,258 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $71.93, for a total transaction of $2,679,967.94. Following the completion of the transaction, the senior vice president now directly owns 128,463 shares of the company’s stock, valued at approximately $9,240,343.59. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the stock. Korea Investment CORP boosted its position in shares of Bristol-Myers Squibb by 8.3% in the fourth quarter. Korea Investment CORP now owns 1,150,320 shares of the biopharmaceutical company’s stock valued at $79,130,000 after buying an additional 88,400 shares in the last quarter. Simmons First Trust Co. NA acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,578,000. Trust Co. of Vermont boosted its position in shares of Bristol-Myers Squibb by 24.4% in the fourth quarter. Trust Co. of Vermont now owns 54,047 shares of the biopharmaceutical company’s stock valued at $3,718,000 after buying an additional 10,589 shares in the last quarter. Highstreet Asset Management Inc. boosted its position in shares of Bristol-Myers Squibb by 290.4% in the fourth quarter. Highstreet Asset Management Inc. now owns 81,902 shares of the biopharmaceutical company’s stock valued at $5,634,000 after buying an additional 60,921 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bristol-Myers Squibb by 24.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 675,839 shares of the biopharmaceutical company’s stock valued at $46,491,000 after buying an additional 130,694 shares in the last quarter.
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company operates in BioPharmaceuticals segment. Its pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes (involving recombinant deoxyribonucleic acid (DNA) technology) called biologics.
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