Investors Sell Bristol-Myers Squibb Co. (BMY) on Strength (BMY)
Traders sold shares of Bristol-Myers Squibb Co. (NYSE:BMY) on strength during trading on Thursday. $142.85 million flowed into the stock on the tick-up and $214.41 million flowed out of the stock on the tick-down, for a money net flow of $71.56 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 $0.38 for the day and closed at $58.68
Several brokerages have commented on BMY. Morgan Stanley lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price target for the company. in a research note on Friday, August 5th. Jefferies Group upped their price target on Bristol-Myers Squibb from $76.00 to $78.00 and gave the stock a “hold” rating in a research note on Tuesday, June 14th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Bristol-Myers Squibb in a research note on Thursday, May 19th. Berenberg Bank restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Finally, Leerink Swann restated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, April 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $72.12.
The firm has a market cap of $98.05 billion and a PE ratio of 34.32. The company’s 50 day moving average is $71.01 and its 200-day moving average is $68.36.
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 the Thomson Reuters’ consensus estimate of $0.66 by $0.03. During the same period in the prior year, the business posted $0.53 earnings per share. The business earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The firm 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 $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, October 5th.
In related news, SVP John E. Elicker sold 11,820 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $72.69, for a total transaction of $859,195.80. Following the sale, the senior vice president now directly owns 55,011 shares of the company’s stock, valued at $3,998,749.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $74.45, for a total value of $1,727,240.00. Following the sale, 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.
A number of large investors have recently added to or reduced their stakes in the company. Boltwood Capital Management increased its stake in Bristol-Myers Squibb by 1.3% in the fourth quarter. Boltwood Capital Management now owns 15,540 shares of the biopharmaceutical company’s stock worth $1,069,000 after buying an additional 200 shares during the period. Atlanta Capital Group increased its stake in Bristol-Myers Squibb by 3.4% in the fourth quarter. Atlanta Capital Group now owns 15,751 shares of the biopharmaceutical company’s stock worth $1,084,000 after buying an additional 522 shares during the period. Girard Partners LTD. increased its stake in Bristol-Myers Squibb by 15.6% in the fourth quarter. Girard Partners LTD. now owns 19,810 shares of the biopharmaceutical company’s stock worth $1,363,000 after buying an additional 2,672 shares during the period. Philadelphia Trust Co. increased its stake in Bristol-Myers Squibb by 0.5% in the fourth quarter. Philadelphia Trust Co. now owns 20,364 shares of the biopharmaceutical company’s stock worth $1,365,000 after buying an additional 100 shares during the period. Finally, Baker Chad R purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth $1,376,000.
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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