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 Monday. $78.56 million flowed into the stock on the tick-up and $65.90 million flowed out of the stock on the tick-down, for a money net flow of $12.66 million into the stock. Of all companies tracked, Bristol-Myers Squibb had the 4th highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.01) for the day and closed at $58.76
Several research firms have recently issued reports on BMY. Morgan Stanley lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price target for the company. in a research report on Friday, August 5th. Jefferies Group lifted their price target on Bristol-Myers Squibb from $76.00 to $78.00 and gave the stock a “hold” rating in a research report on Tuesday, June 14th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Bristol-Myers Squibb in a research report on Thursday, May 19th. Finally, Credit Suisse Group AG lowered 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 research report on Sunday, August 7th. Two investment 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 company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $72.12.
The stock has a 50-day moving average price of $68.17 and a 200-day moving average price of $68.42. The stock has a market cap of $98.18 billion and a price-to-earnings ratio of 34.36.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. The business’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, analysts forecast that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, October 5th.
In other news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $74.45, for a total value of $1,727,240.00. Following the sale, the director now directly owns 380,099 shares of the company’s stock, valued at $28,298,370.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John E. Elicker sold 11,820 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $72.69, for a total value of $859,195.80. Following the completion of the sale, the senior vice president now directly owns 55,011 shares in the company, valued at $3,998,749.59. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. Wafra Investment Advisory Group Inc. NY increased its position in shares of Bristol-Myers Squibb by 10.0% in the fourth quarter. Wafra Investment Advisory Group Inc. NY now owns 23,103 shares of the biopharmaceutical company’s stock worth $1,589,000 after buying an additional 2,103 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of 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 worth $301,308,000 after buying an additional 149,556 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Bristol-Myers Squibb by 262.8% in the fourth quarter. Bridgewater Associates LP now owns 70,845 shares of the biopharmaceutical company’s stock worth $4,873,000 after buying an additional 51,317 shares during the last quarter. St. Louis Trust Co bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $2,366,000. Finally, Argent Capital Management LLC increased its position in shares of 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 worth $19,990,000 after buying an additional 11,906 shares during 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.
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.