Investors Buy Shares of Bristol-Myers Squibb Co. (BMY) on Weakness
Investors purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading on Tuesday. $218.60 million flowed into the stock on the tick-up and $139.78 million flowed out of the stock on the tick-down, for a money net flow of $78.82 million into the stock. Of all stocks tracked, Bristol-Myers Squibb had the 2nd highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.62) for the day and closed at $59.41
A number of equities analysts have commented on BMY shares. Credit Suisse Group AG cut shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $86.00 to $63.00 in a research note on Sunday, August 7th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Jefferies Group boosted their price target on shares of 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 shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.23 price target for the company in a research note on Tuesday, August 9th. Finally, Argus reissued a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a research note on Saturday. 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 company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $72.26.
The company’s 50 day moving average is $71.81 and its 200 day moving average is $68.50. The stock has a market cap of $99.27 billion and a P/E ratio of 34.74.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. During the same period in the previous year, the firm earned $0.53 earnings per share. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.56%. The ex-dividend date is Wednesday, October 5th.
In other Bristol-Myers Squibb news, SVP John E. Elicker sold 11,820 shares of Bristol-Myers Squibb stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $72.69, for a total transaction of $859,195.80. Following the completion of the transaction, the senior vice president now directly owns 55,011 shares of the company’s stock, valued at $3,998,749.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles A. Bancroft sold 30,201 shares of Bristol-Myers Squibb stock in a transaction on Friday, May 20th. The stock was sold at an average price of $70.79, for a total transaction of $2,137,928.79. Following the transaction, the chief financial officer now directly owns 184,694 shares of the company’s stock, valued at $13,074,488.26. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Boltwood Capital Management raised its position 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 last quarter. Atlanta Capital Group increased its stake in Bristol-Myers Squibb by 3.4% in the fourth quarter. Atlanta Capital Group now owns 15,751 shares of the biopharmaceutical company’s stock valued at $1,084,000 after buying an additional 522 shares during the period. Girard Partners LTD. increased its stake in Bristol-Myers Squibb by 15.6% in the fourth quarter. Girard Partners LTD. now owns 19,810 shares of the biopharmaceutical company’s stock valued at $1,363,000 after buying an additional 2,672 shares during the period. Philadelphia Trust Co. increased 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. Finally, Baker Chad R acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at $1,376,000.
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.
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