Bristol-Myers Squibb Co. (BMY) Sees Unusually-High Trading Volume
Bristol-Myers Squibb Co. (NYSE:BMY) shares saw unusually-high trading volume on Friday . Approximately 21,287,822 shares changed hands during trading, an increase of 29% from the previous session’s volume of 16,484,297 shares.The stock last traded at $55.95 and had previously closed at $56.76.
BMY has been the subject of several research reports. Jefferies Group reaffirmed a “hold” rating and set a $75.00 price target on shares of Bristol-Myers Squibb in a research note on Thursday, May 5th. Credit Suisse Group AG lifted their price target on Bristol-Myers Squibb from $75.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 9th. Argus reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, May 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Bristol-Myers Squibb in a research note on Thursday, May 19th. Finally, Hilliard Lyons initiated coverage on Bristol-Myers Squibb in a research note on Monday, May 23rd. They set a “neutral” rating for the company. Two 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 stock. The company presently has a consensus rating of “Hold” and a consensus price target of $72.12.
The stock’s 50-day moving average price is $66.03 and its 200 day moving average price is $68.15. The firm has a market cap of $94.15 billion and a P/E ratio of 32.95.
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, topping the consensus estimate of $0.66 by $0.03. During the same period in the prior year, the company posted $0.53 earnings per share. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. The firm’s revenue was up 17.2% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, October 5th.
In related news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $72.14, for a total value of $1,673,648.00. Following the completion of the sale, the director now directly owns 403,094 shares of the company’s stock, valued at approximately $29,079,201.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John E. Elicker sold 11,820 shares of the stock in a transaction dated Tuesday, June 14th. The stock was 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 directly owns 55,011 shares of the company’s stock, valued at $3,998,749.59. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. South Texas Money Management Ltd. increased its stake in Bristol-Myers Squibb by 1.2% in the fourth quarter. South Texas Money Management Ltd. now owns 681,456 shares of the biopharmaceutical company’s stock worth $46,877,000 after buying an additional 8,323 shares during the period. Wafra Investment Advisory Group Inc. NY raised its position in shares of 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. Schwab Charles Investment Management Inc. raised its position in shares of Bristol-Myers Squibb by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,380,099 shares of the biopharmaceutical company’s stock worth $301,308,000 after buying an additional 149,556 shares in the last quarter. Bridgewater Associates LP raised its position in shares of 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 in the last quarter. Finally, St. Louis Trust Co bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $2,366,000.
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes 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.