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 hours on Thursday. $142.85 million flowed into the stock on the tick-up and $214.41 million flowed out of the stock on the tick-down, for a money net flow of $71.56 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 $0.38 for the day and closed at $58.68
A number of research firms have commented on BMY. Credit Suisse Group AG reiterated an “overweight” rating on shares of Bristol-Myers Squibb in a report on Tuesday, April 26th. Jefferies Group reiterated a “hold” rating and issued a $75.00 price objective on shares of Bristol-Myers Squibb in a report on Thursday, May 5th. Vetr upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a report on Monday, July 25th. Berenberg Bank reiterated a “buy” rating and issued a $80.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, April 22nd. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $72.12.
The firm’s 50 day moving average price is $70.60 and its 200 day moving average price is $68.35. The stock has a market cap of $99.07 billion and a price-to-earnings ratio of 34.67.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results 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 last year, the company posted $0.53 EPS. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $1.52 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, October 5th.
In related news, SVP John E. Elicker sold 11,820 shares of the company’s stock in a transaction that occurred 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 owns 55,011 shares of the company’s stock, valued at $3,998,749.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,673,648.00. Following the transaction, the director now directly owns 403,094 shares of the company’s stock, valued at approximately $29,079,201.16. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in Bristol-Myers Squibb by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,380,099 shares of the biopharmaceutical company’s stock valued at $301,308,000 after buying an additional 149,556 shares in the last quarter. Bridgewater Associates LP increased its stake in Bristol-Myers Squibb by 262.8% in the fourth quarter. Bridgewater Associates LP now owns 70,845 shares of the biopharmaceutical company’s stock valued at $4,873,000 after buying an additional 51,317 shares in the last quarter. St. Louis Trust Co acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $2,366,000. Argent Capital Management LLC increased its stake in Bristol-Myers Squibb by 4.3% in the fourth quarter. Argent Capital Management LLC now owns 290,593 shares of the biopharmaceutical company’s stock valued at $19,990,000 after buying an additional 11,906 shares in the last quarter. Finally, Roosevelt Investment Group Inc. increased its stake in Bristol-Myers Squibb by 78.7% in the fourth quarter. Roosevelt Investment Group Inc. now owns 423,373 shares of the biopharmaceutical company’s stock valued at $29,124,000 after buying an additional 186,514 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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