Bristol-Myers Squibb Co. (BMY) Stock Price Down 15.2%
Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 15.2% on Friday . The company traded as low as $61.56 and last traded at $63.90, with a volume of 61,615,908 shares trading hands. The stock had previously closed at $75.32.
A number of analysts recently weighed in on the company. Morgan Stanley downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating in a research note on Friday. SunTrust Banks Inc. downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Friday. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup Inc. restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday. Finally, Leerink Swann restated a “buy” rating and issued a $85.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $74.98.
The company has a 50 day moving average of $74.20 and a 200 day moving average of $68.57. The stock has a market capitalization of $105.73 billion and a P/E ratio of 37.01.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. During the same period in the previous year, the business posted $0.53 earnings per share. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, October 5th.
In other news, CFO Charles A. Bancroft sold 30,201 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $70.79, for a total transaction of $2,137,928.79. Following the completion of the sale, the chief financial officer now directly owns 184,694 shares of the company’s stock, valued at approximately $13,074,488.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph C. Caldarella sold 3,519 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $72.47, for a total value of $255,021.93. Following the sale, the senior vice president now directly owns 55,238 shares of the company’s stock, valued at $4,003,097.86. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Bristol-Myers Squibb by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 100,977,126 shares of the biopharmaceutical company’s stock valued at $6,946,217,000 after buying an additional 2,396,947 shares in the last quarter. Jennison Associates LLC raised its stake in Bristol-Myers Squibb by 19.2% in the fourth quarter. Jennison Associates LLC now owns 27,739,860 shares of the biopharmaceutical company’s stock valued at $1,908,225,000 after buying an additional 4,462,075 shares in the last quarter. Brown Advisory Inc. raised its stake in Bristol-Myers Squibb by 5.4% in the fourth quarter. Brown Advisory Inc. now owns 8,541,624 shares of the biopharmaceutical company’s stock valued at $587,578,000 after buying an additional 433,894 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Bristol-Myers Squibb by 16.2% in the fourth quarter. OppenheimerFunds Inc. now owns 4,814,935 shares of the biopharmaceutical company’s stock valued at $331,229,000 after buying an additional 670,086 shares in the last quarter. Finally, Eaton Vance Management raised its stake in Bristol-Myers Squibb by 2.6% in the fourth quarter. Eaton Vance Management now owns 4,013,709 shares of the biopharmaceutical company’s stock valued at $276,103,000 after buying an additional 102,493 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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