Investors Sell Shares of Bristol-Myers Squibb Co. (BMY) on Strength (BMY)
Traders sold shares of Bristol-Myers Squibb Co. (NYSE:BMY) on strength during trading on Thursday. $189.06 million flowed into the stock on the tick-up and $222.97 million flowed out of the stock on the tick-down, for a money net flow of $33.91 million out of the stock. Of all companies tracked, Bristol-Myers Squibb had the 0th highest net out-flow for the day. Bristol-Myers Squibb traded up $0.39 for the day and closed at $60.97
A number of research analysts recently weighed in on BMY shares. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. Credit Suisse Group AG reiterated an “overweight” rating on shares of Bristol-Myers Squibb in a report on Tuesday, April 26th. Vetr upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating and set a $64.94 target price on the stock in a report on Monday, April 25th. Argus reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, May 13th. Finally, Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $72.26.
The company’s 50-day moving average price is $72.42 and its 200 day moving average price is $68.44. The company has a market capitalization of $101.30 billion and a P/E ratio of 35.46.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the business posted $0.53 earnings per share. Bristol-Myers Squibb’s revenue was up 17.2% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb Co. will post $2.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.51%.
In other Bristol-Myers Squibb news, CFO Charles A. Bancroft sold 30,201 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $70.79, for a total value of $2,137,928.79. Following the transaction, the chief financial officer now directly owns 184,694 shares of the company’s stock, valued at $13,074,488.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lamberto Andreotti sold 23,200 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $74.45, for a total transaction of $1,727,240.00. Following the completion of the transaction, the director now directly owns 380,099 shares in the company, valued at $28,298,370.55. The disclosure for this sale can be found here.
Other institutional investors have made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 during the last quarter. Jennison Associates LLC boosted its position in shares of 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 worth $1,908,225,000 after buying an additional 4,462,075 shares in the last quarter. Eaton Vance Management boosted its position in shares of 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 worth $276,103,000 after buying an additional 102,493 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Bristol-Myers Squibb by 173.6% in the fourth quarter. Marshall Wace LLP now owns 2,833,753 shares of the biopharmaceutical company’s stock worth $194,933,000 after buying an additional 1,798,080 shares in the last quarter. Finally, Standard Life Investments LTD boosted its position in shares of Bristol-Myers Squibb by 5.0% in the fourth quarter. Standard Life Investments LTD now owns 2,685,024 shares of the biopharmaceutical company’s stock worth $184,717,000 after buying an additional 128,507 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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