Investors Buy Shares of Bristol-Myers Squibb Co. (BMY) on Weakness
Traders bought shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading on Friday. $163.17 million flowed into the stock on the tick-up and $119.18 million flowed out of the stock on the tick-down, for a money net flow of $43.99 million into the stock. Of all equities tracked, Bristol-Myers Squibb had the 11th highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.63) for the day and closed at $56.76
A number of research analysts have issued reports on BMY shares. Morgan Stanley reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Thursday, August 25th. Credit Suisse Group AG boosted their price target on Bristol-Myers Squibb from $75.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 9th. Deutsche Bank AG lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Citigroup Inc. reduced their price target on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Argus reiterated a “buy” rating and set a $90.00 price target on shares of Bristol-Myers Squibb in a research report on Saturday, August 13th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $72.12.
The company’s 50-day moving average price is $66.03 and its 200 day moving average price is $68.15. The stock has a market cap of $94.15 billion and a PE 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb Co. will post $2.63 EPS for the current fiscal year.
The business 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 $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Wednesday, October 5th.
In other news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $59.17, for a total value of $1,372,744.00. Following the transaction, the director now owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John E. Elicker sold 11,820 shares of the 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 transaction, the senior vice president now directly owns 55,011 shares in the company, valued at approximately $3,998,749.59. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in Bristol-Myers Squibb by 6.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 150,480 shares of the biopharmaceutical company’s stock worth $10,352,000 after buying an additional 9,500 shares during the period. Suntrust Banks Inc. increased its position in Bristol-Myers Squibb by 4.3% in the fourth quarter. Suntrust Banks Inc. now owns 765,469 shares of the biopharmaceutical company’s stock worth $52,655,000 after buying an additional 31,270 shares during the period. Eaton Vance Management increased its position in Bristol-Myers Squibb by 2.6% in the fourth quarter. Eaton Vance Management now owns 4,013,709 shares of the biopharmaceutical company’s stock worth $276,103,000 after buying an additional 102,493 shares during the period. Jennison Associates LLC increased its stake in shares of Bristol-Myers Squibb by 19.2% in the fourth quarter. Jennison Associates LLC now owns 27,739,860 shares of the biopharmaceutical company’s stock valued at $1,908,225,000 after buying an additional 4,462,075 shares during the last quarter. Finally, Gluskin Sheff & Assoc Inc. increased its stake in shares of 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 valued at $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’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.