Traders Buy Shares of Bristol-Myers Squibb Co. (BMY) on Weakness
Traders purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading on Friday. $1,246.34 million flowed into the stock on the tick-up and $1,167.71 million flowed out of the stock on the tick-down, for a money net flow of $78.63 million into the stock. Of all equities tracked, Bristol-Myers Squibb had the 3rd highest net in-flow for the day. Bristol-Myers Squibb traded down ($12.04) for the day and closed at $63.28
A number of research firms have recently issued reports on BMY. Morgan Stanley cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating in a research note on Friday. SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Friday. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup Inc. reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday. Finally, Leerink Swann reiterated a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $74.98.
The stock has a market capitalization of $105.73 billion and a P/E ratio of 37.01. The stock’s 50-day moving average is $73.96 and its 200 day moving average is $68.53.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. On average, equities research analysts expect that Bristol-Myers Squibb Co. will post $2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.40%.
In related news, CFO Charles A. Bancroft sold 30,201 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $70.79, for a total transaction of $2,137,928.79. Following the sale, the chief financial officer now owns 184,694 shares in the company, valued at approximately $13,074,488.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,673,648.00. Following the sale, the director now owns 403,094 shares in the company, valued at approximately $29,079,201.16. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of BMY. Mizuho Trust & Banking Co. Ltd. raised its stake in Bristol-Myers Squibb by 1.8% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 2,581,296 shares of the biopharmaceutical company’s stock valued at $179,452,000 after buying an additional 45,714 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,430,000. Garcia Hamilton & Associates LP DE raised its stake in shares of Bristol-Myers Squibb by 1.2% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 29,495 shares of the biopharmaceutical company’s stock worth $2,029,000 after buying an additional 358 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Bristol-Myers Squibb by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 52,336 shares of the biopharmaceutical company’s stock worth $3,600,000 after buying an additional 270 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 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 worth $6,946,217,000 after buying an additional 2,396,947 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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