Bristol-Myers Squibb Co. (BMY) Sees Unusually-High Trading Volume
Bristol-Myers Squibb Co. (NYSE:BMY) shares saw unusually-strong trading volume on Friday . Approximately 21,287,822 shares changed hands during trading, an increase of 29% from the previous session’s volume of 16,484,297 shares.The stock last traded at $55.95 and had previously closed at $56.76.
Several research analysts recently issued reports on BMY shares. Deutsche Bank AG restated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a research note on Saturday. Argus reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, May 13th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, August 15th. Finally, Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.59.
The company has a market cap of $94.15 billion and a price-to-earnings ratio of 32.95. The stock’s 50 day moving average price is $66.31 and its 200 day moving average price is $68.24.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The business 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 $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 2.70%.
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 transaction of $1,727,240.00. Following the transaction, the director now owns 380,099 shares in the company, valued at approximately $28,298,370.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John E. Elicker sold 11,820 shares of the stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $72.69, for a total transaction of $859,195.80. Following the transaction, the senior vice president now owns 55,011 shares in the company, valued at approximately $3,998,749.59. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in BMY. Wafra Investment Advisory Group Inc. NY raised 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 valued at $1,589,000 after buying an additional 2,103 shares during the period. St. Louis Trust Co purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $2,366,000. Gluskin Sheff & Assoc Inc. raised its position in Bristol-Myers Squibb by 53.7% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 70,775 shares of the biopharmaceutical company’s stock worth $4,869,000 after buying an additional 24,720 shares during the last quarter. Bridgewater Associates LP raised its position 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 worth $4,873,000 after buying an additional 51,317 shares during the last quarter. Finally, Argent Capital Management LLC raised its position 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 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’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes 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.