Bristol-Myers Squibb Co. (BMY) Trading Down 2.4%
Bristol-Myers Squibb Co. (NYSE:BMY) dropped 2.4% during mid-day trading on Tuesday . The company traded as low as $57.24 and last traded at $57.36, with a volume of 10,471,977 shares trading hands. The stock had previously closed at $58.76.
BMY has been the topic of a number of recent research reports. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. Argus reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, May 13th. Credit Suisse Group AG reiterated a “hold” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, August 15th. Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.12.
The stock has a market capitalization of $95.64 billion and a price-to-earnings ratio of 33.47. The stock’s 50 day moving average is $67.67 and its 200 day moving average is $68.40.
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 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 company’s revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, October 5th.
In related news, Director Lamberto Andreotti sold 23,200 shares of the company’s 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 completion of the sale, the director now owns 380,099 shares in the company, valued at $28,298,370.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John E. Elicker sold 11,820 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,998,749.59. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. 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 in the last quarter. 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 in the last quarter. Wafra Investment Advisory Group Inc. NY increased its stake in Bristol-Myers Squibb by 10.0% in the fourth quarter. Wafra Investment Advisory Group Inc. NY now owns 23,103 shares of the biopharmaceutical company’s stock worth $1,589,000 after buying an additional 2,103 shares in the last quarter. St. Louis Trust Co bought a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $2,366,000. Finally, Pitcairn Co. increased its stake in Bristol-Myers Squibb by 0.8% in the fourth quarter. Pitcairn Co. now owns 55,359 shares of the biopharmaceutical company’s stock worth $3,808,000 after buying an additional 442 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.