Traders Buy Bristol-Myers Squibb Co. (BMY) on Weakness
Investors purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading hours on Tuesday. $222.18 million flowed into the stock on the tick-up and $158.17 million flowed out of the stock on the tick-down, for a money net flow of $64.01 million into the stock. Of all companies tracked, Bristol-Myers Squibb had the 3rd highest net in-flow for the day. Bristol-Myers Squibb traded down ($1.52) for the day and closed at $57.24
Several analysts recently issued reports on the stock. Jefferies Group reaffirmed a “hold” rating and set a $75.00 price objective on shares of Bristol-Myers Squibb in a research note on Thursday, May 5th. SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Berenberg Bank reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Bristol-Myers Squibb in a report on Thursday, May 19th. Finally, Argus reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, May 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $72.12.
The firm has a market capitalization of $95.64 billion and a PE ratio of 33.47. The firm has a 50 day moving average price of $67.67 and a 200 day moving average price of $68.40.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. During the same period last year, the firm earned $0.53 earnings per share. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Friday, October 7th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.66%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb 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 transaction, the director now directly owns 380,099 shares of the company’s stock, valued at $28,298,370.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John E. Elicker sold 11,820 shares of the business’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $72.69, for a total transaction of $859,195.80. Following the transaction, the senior vice president now directly owns 55,011 shares in the company, valued at $3,998,749.59. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Bridgewater Associates LP boosted its position in Bristol-Myers Squibb by 262.8% in the fourth quarter. Bridgewater Associates LP now owns 70,845 shares of the biopharmaceutical company’s stock worth $4,873,000 after buying an additional 51,317 shares during the last quarter. St. Louis Trust Co purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $2,366,000. Argent Capital Management LLC boosted its position in Bristol-Myers Squibb by 4.3% in the fourth quarter. Argent Capital Management LLC now owns 290,593 shares of the biopharmaceutical company’s stock worth $19,990,000 after buying an additional 11,906 shares during the last quarter. Roosevelt Investment Group Inc. boosted its position in Bristol-Myers Squibb by 78.7% in the fourth quarter. Roosevelt Investment Group Inc. now owns 423,373 shares of the biopharmaceutical company’s stock worth $29,124,000 after buying an additional 186,514 shares during the last quarter. Finally, Gluskin Sheff & Assoc Inc. boosted its position in Bristol-Myers Squibb by 53.7% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 70,775 shares of the biopharmaceutical company’s stock worth $4,869,000 after buying an additional 24,720 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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