Traders 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 on Wednesday. $61.76 million flowed into the stock on the tick-up and $98.01 million flowed out of the stock on the tick-down, for a money net flow of $36.25 million out of the stock. Of all companies tracked, Bristol-Myers Squibb had the 0th highest net out-flow for the day. Bristol-Myers Squibb traded up $1.41 for the day and closed at $76.47
A number of research firms have recently weighed in on BMY. Jefferies Group increased their price objective on Bristol-Myers Squibb from $76.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Bristol-Myers Squibb in a research note on Thursday, May 19th. Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Leerink Swann reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, April 27th. Finally, Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.79 price objective for the company in a research note on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $74.65.
The firm has a market capitalization of $127.65 billion and a P/E ratio of 82.14. The company has a 50 day moving average of $73.80 and a 200-day moving average of $68.08.
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 Thomson Reuters’ consensus estimate of $0.66 by $0.03. During the same period last year, the company earned $0.53 EPS. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. The business’s revenue was up 17.2% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb Co. will post $2.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, June 29th.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 34,594 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $71.31, for a total value of $2,466,898.14. Following the completion of the sale, the chief executive officer now directly owns 132,263 shares in the company, valued at approximately $9,431,674.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sandra Leung sold 72,544 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $70.39, for a total value of $5,106,372.16. Following the completion of the sale, the executive vice president now owns 444,507 shares of the company’s stock, valued at $31,288,847.73. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of the company. Smithfield Trust Co. boosted its stake in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Smithfield Trust Co. now owns 33,745 shares of the biopharmaceutical company’s stock valued at $2,322,000 after buying an additional 1,276 shares in the last quarter. Geneva Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 11.5% in the fourth quarter. Geneva Advisors LLC now owns 527,017 shares of the biopharmaceutical company’s stock valued at $36,253,000 after buying an additional 54,248 shares in the last quarter. Main Street Research LLC boosted its stake in shares of Bristol-Myers Squibb by 4.4% in the fourth quarter. Main Street Research LLC now owns 161,910 shares of the biopharmaceutical company’s stock valued at $11,138,000 after buying an additional 6,832 shares in the last quarter. DE Burlo Group Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $7,854,000. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 3.8% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 22,386 shares of the biopharmaceutical company’s stock valued at $1,540,000 after buying an additional 812 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.
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