Traders Buy Shares of Bristol-Myers Squibb Co. (BMY) on Weakness
Investors purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading hours on Monday. $55.91 million flowed into the stock on the tick-up and $41.90 million flowed out of the stock on the tick-down, for a money net flow of $14.01 million into the stock. Of all stocks tracked, Bristol-Myers Squibb had the 23rd highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.04) for the day and closed at $75.96
Several research firms recently commented on BMY. Credit Suisse Group AG reaffirmed an “overweight” rating on shares of Bristol-Myers Squibb in a report on Tuesday, April 26th. Jefferies Group reissued a “hold” rating and issued a $75.00 price target on shares of Bristol-Myers Squibb in a report on Thursday, May 5th. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Berenberg Bank reissued a “buy” rating and issued a $80.00 price target on shares of Bristol-Myers Squibb in a report on Friday, April 22nd. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $74.65.
The stock has a market cap of $126.80 billion and a PE ratio of 81.59. The stock’s 50-day moving average price is $73.27 and its 200-day moving average price is $67.62.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 28th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.09. During the same period last year, the company earned $0.71 earnings per share. The firm earned $4.39 billion during 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, equities analysts expect that Bristol-Myers Squibb Co. will post $2.57 EPS for the current fiscal year.
The business also recently announced 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 of this dividend is Wednesday, June 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.00%.
In related news, Director Lamberto Andreotti sold 234,720 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $71.88, for a total transaction of $16,871,673.60. Following the completion of the transaction, the director now owns 536,794 shares in the company, valued at $38,584,752.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sandra Leung sold 72,544 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $70.39, for a total transaction of $5,106,372.16. Following the transaction, the executive vice president now owns 444,507 shares of the company’s stock, valued at approximately $31,288,847.73. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of the company. Northeast Investment Management raised its position in shares of Bristol-Myers Squibb by 14.2% in the fourth quarter. Northeast Investment Management now owns 228,200 shares of the biopharmaceutical company’s stock worth $15,698,000 after buying an additional 28,447 shares in the last quarter. Sei Investments Co. raised its position in shares of Bristol-Myers Squibb by 41.0% in the fourth quarter. Sei Investments Co. now owns 978,555 shares of the biopharmaceutical company’s stock worth $67,314,000 after buying an additional 284,571 shares in the last quarter. Smith Asset Management Group LP bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $11,390,000. Swiss National Bank raised its position in shares of Bristol-Myers Squibb by 1.7% in the fourth quarter. Swiss National Bank now owns 3,492,052 shares of the biopharmaceutical company’s stock worth $240,218,000 after buying an additional 59,900 shares in the last quarter. Finally, LMR Partners LLP bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $1,073,000.
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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