Investors Sell Shares of Bristol-Myers Squibb Co. (BMY) on Strength (BMY)
Traders sold shares of Bristol-Myers Squibb Co. (NYSE:BMY) on strength during trading hours on Thursday. $189.06 million flowed into the stock on the tick-up and $222.97 million flowed out of the stock on the tick-down, for a money net flow of $33.91 million out of the stock. Of all equities tracked, Bristol-Myers Squibb had the 0th highest net out-flow for the day. Bristol-Myers Squibb traded up $0.39 for the day and closed at $60.97
A number of research analysts recently commented on BMY shares. Credit Suisse Group AG cut Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $86.00 to $63.00 in a report on Sunday, August 7th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Jefferies Group lifted their price objective on Bristol-Myers Squibb from $77.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 price objective on the stock in a research note on Tuesday. Finally, Citigroup Inc. reduced their price objective on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $71.33.
The firm has a 50 day moving average price of $72.77 and a 200 day moving average price of $68.46. The company has a market capitalization of $102.09 billion and a PE ratio of 35.73.
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, topping the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. On average, equities analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors 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 2.49%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 23,200 shares of the firm’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $74.45, for a total transaction of $1,727,240.00. Following the completion of the sale, the director now owns 380,099 shares of the company’s stock, valued at $28,298,370.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Charles A. Bancroft sold 30,201 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $70.79, for a total value of $2,137,928.79. Following the sale, the chief financial officer now directly owns 184,694 shares of the company’s stock, valued at approximately $13,074,488.26. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of BMY. Philadelphia Trust Co. boosted its stake in Bristol-Myers Squibb by 0.5% in the fourth quarter. Philadelphia Trust Co. now owns 20,364 shares of the biopharmaceutical company’s stock valued at $1,365,000 after buying an additional 100 shares during the period. Boltwood Capital Management boosted its stake in Bristol-Myers Squibb by 1.3% in the fourth quarter. Boltwood Capital Management now owns 15,540 shares of the biopharmaceutical company’s stock valued at $1,069,000 after buying an additional 200 shares during the period. Pekin Singer Strauss Asset Management IL boosted its stake in Bristol-Myers Squibb by 1.0% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 33,948 shares of the biopharmaceutical company’s stock valued at $2,335,000 after buying an additional 330 shares during the period. Garcia Hamilton & Associates LP DE boosted its stake in Bristol-Myers Squibb by 1.2% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 29,495 shares of the biopharmaceutical company’s stock valued at $2,029,000 after buying an additional 358 shares during the period. Finally, Ironsides Asset Advisors LLC boosted its stake in Bristol-Myers Squibb by 1.0% in the fourth quarter. Ironsides Asset Advisors LLC now owns 37,329 shares of the biopharmaceutical company’s stock valued at $2,568,000 after buying an additional 361 shares during the period.
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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