Insider Buying: Bristol-Myers Squibb Company (NYSE:BMY) Director Purchases 6,000 Shares of Stock
Bristol-Myers Squibb Company (NYSE:BMY) Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $1,006,920. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Bristol-Myers Squibb Company (NYSE BMY) opened at 55.95 on Friday. Bristol-Myers Squibb Company has a 52 week low of $46.01 and a 52 week high of $75.62. The firm’s 50-day moving average is $55.55 and its 200-day moving average is $54.50. The company has a market cap of $91.75 billion, a price-to-earnings ratio of 20.43 and a beta of 1.17. Bristol-Myers Squibb also was the target of some unusual options trading on Thursday. Investors bought 781 put options on the stock. This is an increase of approximately 117% compared to the average daily volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Equities research analysts predict that Bristol-Myers Squibb Company will post $2.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.79%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
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A number of institutional investors have recently made changes to their positions in BMY. Clough Capital Partners L P increased its position in shares of Bristol-Myers Squibb by 95.8% in the fourth quarter. Clough Capital Partners L P now owns 399,209 shares of the biopharmaceutical company’s stock valued at $23,330,000 after buying an additional 195,292 shares during the last quarter. ARS Investment Partners LLC increased its position in shares of Bristol-Myers Squibb by 6.9% in the fourth quarter. ARS Investment Partners LLC now owns 179,008 shares of the biopharmaceutical company’s stock valued at $10,461,000 after buying an additional 11,541 shares during the last quarter. Empire Life Investments Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $2,960,000. RB Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $364,000. Finally, Lebenthal Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Lebenthal Asset Management LLC now owns 169,244 shares of the biopharmaceutical company’s stock valued at $9,891,000 after buying an additional 1,085 shares during the last quarter. 69.56% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on BMY shares. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 target price on the stock in a research report on Monday, June 5th. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Robert W. Baird began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 25th. They set an “outperform” rating on the stock. Finally, Deutsche Bank AG set a $55.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.32.
Bristol-Myers Squibb Company Profile
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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