Investors Sell Shares of Bristol-Myers Squibb Co. (BMY) on Strength (BMY)
Investors sold shares of Bristol-Myers Squibb Co. (NYSE:BMY) on strength during trading hours on Tuesday. $120.07 million flowed into the stock on the tick-up and $185.36 million flowed out of the stock on the tick-down, for a money net flow of $65.29 million out of the stock. Of all equities tracked, Bristol-Myers Squibb had the 0th highest net out-flow for the day. Bristol-Myers Squibb traded up $0.60 for the day and closed at $59.86
BMY has been the topic of several research reports. Credit Suisse Group AG lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $86.00 to $63.00 in a report on Sunday, August 7th. Vetr raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 price target on the stock in a report on Tuesday, August 9th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 6th. Jefferies Group lifted their price target on shares of Bristol-Myers Squibb from $77.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Finally, Argus reaffirmed a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a report on Saturday, August 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.12.
The company has a market capitalization of $100.02 billion and a price-to-earnings ratio of 35.01. The company has a 50 day moving average price of $69.90 and a 200-day moving average price of $68.48.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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 business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal 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 given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, October 5th.
In other news, SVP John E. Elicker sold 11,820 shares of the firm’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $72.69, for a total value of $859,195.80. Following the completion of the sale, the senior vice president now owns 55,011 shares in the company, valued at approximately $3,998,749.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lamberto Andreotti sold 23,200 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 403,094 shares of the company’s stock, valued at approximately $29,079,201.16. The disclosure for this sale can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. Boltwood Capital Management boosted 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 valued at $1,069,000 after buying an additional 200 shares during the period. Atlanta Capital Group boosted 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 valued at $1,084,000 after buying an additional 522 shares during the period. Girard Partners LTD. boosted 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 valued at $1,363,000 after buying an additional 2,672 shares during the period. Baker Chad R purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,376,000. Finally, GSA Capital Partners LLP boosted its stake in Bristol-Myers Squibb by 30.6% in the fourth quarter. GSA Capital Partners LLP now owns 22,924 shares of the biopharmaceutical company’s stock valued at $1,577,000 after buying an additional 5,365 shares during the period.
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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