Traders Buy Bristol-Myers Squibb Co. (BMY) on Weakness
Traders purchased shares of Bristol-Myers Squibb Co. (NYSE:BMY) on weakness during trading on Friday. $163.17 million flowed into the stock on the tick-up and $119.18 million flowed out of the stock on the tick-down, for a money net flow of $43.99 million into the stock. Of all stocks tracked, Bristol-Myers Squibb had the 11th highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.63) for the day and closed at $56.76
Several analysts have recently issued reports on the company. BMO Capital Markets restated a “market perform” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a research report on Saturday. Vetr upgraded Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a research report on Monday, July 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Bristol-Myers Squibb in a research report on Thursday, May 19th. Finally, Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $71.59.
The stock has a market cap of $94.15 billion and a P/E ratio of 32.95. The company has a 50-day moving average price of $66.31 and a 200-day moving average price of $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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the previous year, the business posted $0.53 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts expect that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.70%.
In other news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the director now directly owns 380,099 shares in the company, valued at $28,298,370.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John E. Elicker sold 11,820 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the senior vice president now 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 have bought and sold shares of the company. 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 in the last quarter. St. Louis Trust Co purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $2,366,000. Gluskin Sheff & Assoc Inc. raised its position in shares of 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 valued at $4,869,000 after buying an additional 24,720 shares in the last quarter. Bridgewater Associates LP raised 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 valued at $4,873,000 after buying an additional 51,317 shares in the last quarter. Finally, Argent Capital Management LLC raised 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 valued at $19,990,000 after buying an additional 11,906 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’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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