Traders Buy Shares of Bristol-Myers Squibb Co. (BMY) on Weakness
Investors purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading hours on Thursday. $137.58 million flowed into the stock on the tick-up and $93.56 million flowed out of the stock on the tick-down, for a money net flow of $44.02 million into the stock. Of all equities tracked, Bristol-Myers Squibb had the 9th highest net in-flow for the day. Bristol-Myers Squibb traded down ($1.81) for the day and closed at $74.66
BMY has been the subject of several research reports. Goldman Sachs Group Inc. restated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, July 6th. Jefferies Group raised their target price on shares of Bristol-Myers Squibb from $77.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Societe Generale initiated coverage on shares of Bristol-Myers Squibb in a report on Wednesday, April 6th. They set a “sell” rating and a $48.00 target price on the stock. Vetr cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $67.61 target price on the stock. in a report on Monday, April 4th. Finally, Leerink Swann reaffirmed a “buy” rating and set a $85.00 target price on shares of Bristol-Myers Squibb in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $74.98.
The stock’s 50-day moving average is $73.89 and its 200-day moving average is $68.21. The stock has a market cap of $124.88 billion and a price-to-earnings ratio of 43.75.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. During the same quarter in the prior year, the company earned $0.53 earnings per share. The firm earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb Co. will post $2.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, June 29th.
In other news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction on Friday, July 8th. The shares were sold at an average price of $74.45, for a total value of $1,727,240.00. Following the transaction, the director now owns 380,099 shares of the company’s stock, valued at approximately $28,298,370.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Autenried Paul Von sold 37,258 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $71.93, for a total transaction of $2,679,967.94. Following the completion of the transaction, the senior vice president now directly owns 128,463 shares in the company, valued at approximately $9,240,343.59. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of BMY. Loeb Partners Corp raised its position in shares of Bristol-Myers Squibb by 6.1% in the fourth quarter. Loeb Partners Corp now owns 63,710 shares of the biopharmaceutical company’s stock worth $4,383,000 after buying an additional 3,640 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bristol-Myers Squibb by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 100,977,126 shares of the biopharmaceutical company’s stock worth $6,946,217,000 after buying an additional 2,396,947 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of Bristol-Myers Squibb by 16.2% in the fourth quarter. OppenheimerFunds Inc. now owns 4,814,935 shares of the biopharmaceutical company’s stock worth $331,229,000 after buying an additional 670,086 shares during the last quarter. Emerson Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 0.5% in the fourth quarter. Emerson Investment Management LLC now owns 160,746 shares of the biopharmaceutical company’s stock worth $11,058,000 after buying an additional 749 shares during the last quarter. Finally, IronBridge Capital Management LP bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $1,079,000.
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.