Bristol-Myers Squibb Co. (BMY) Sees Strong Trading Volume
Bristol-Myers Squibb Co. (NYSE:BMY) saw unusually-strong trading volume on Monday . Approximately 37,425,654 shares were traded during mid-day trading, an increase of 256% from the previous session’s volume of 10,507,511 shares.The stock last traded at $60.31 and had previously closed at $63.28.
A number of research analysts recently issued reports on BMY shares. Vetr lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating and set a $60.30 target price for the company. in a report on Thursday, April 14th. Berenberg Bank reaffirmed a “buy” rating and set a $80.00 price target on shares of Bristol-Myers Squibb in a report on Friday, April 22nd. Credit Suisse Group AG reaffirmed an “overweight” rating on shares of Bristol-Myers Squibb in a report on Tuesday, April 26th. Leerink Swann reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, April 27th. Finally, Barclays PLC lifted their price target on Bristol-Myers Squibb from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $72.09.
The company has a 50 day moving average of $73.66 and a 200 day moving average of $68.59. The stock has a market cap of $100.75 billion and a price-to-earnings ratio of 35.26.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. During the same period in the previous year, the business posted $0.53 EPS. The company 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% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb Co. will post $2.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders 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 2.52%.
In other Bristol-Myers Squibb news, SVP Joseph C. Caldarella sold 3,519 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $72.47, for a total value of $255,021.93. Following the transaction, the senior vice president now owns 55,238 shares of the company’s stock, valued at $4,003,097.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles A. Bancroft sold 30,201 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 184,694 shares in the company, valued at approximately $13,074,488.26. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the company. Loeb Partners Corp boosted its position in shares of Bristol-Myers Squibb by 6.1% in the fourth quarter. Loeb Partners Corp now owns 63,710 shares of the biopharmaceutical company’s stock worth $4,383,000 after buying an additional 3,640 shares in the last quarter. 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 valued at $6,946,217,000 after buying an additional 2,396,947 shares during the last quarter. Emerson Investment Management LLC raised its stake in shares of Bristol-Myers Squibb by 0.5% in the fourth quarter. Emerson Investment Management LLC now owns 160,746 shares of the biopharmaceutical company’s stock valued at $11,058,000 after buying an additional 749 shares during the last quarter. IronBridge Capital Management LP purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,079,000. Finally, Ironsides Asset Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 1.0% in the fourth quarter. Ironsides Asset Advisors LLC now owns 37,329 shares of the biopharmaceutical company’s stock valued at $2,568,000 after buying an additional 361 shares during 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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