Bristol-Myers Squibb Company (BMY) Hits New 1-Year High at $62.96
Bristol-Myers Squibb Company (NYSE:BMY) hit a new 52-week high on Thursday . The stock traded as high as $62.96 and last traded at $62.90, with a volume of 9,537,469 shares changing hands. The stock had previously closed at $59.87.
Several equities research analysts recently weighed in on BMY shares. Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 target price for the company in a report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. BMO Capital Markets reaffirmed a “sell” rating and set a $49.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 4th. BidaskClub raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG set a $55.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $62.54.
The stock has a 50-day moving average of $57.53 and a 200 day moving average of $55.70. The stock has a market capitalization of $102.69 billion, a PE ratio of 22.87 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the sale, the senior vice president now directly owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tradewinds Capital Management LLC grew its holdings in shares of Bristol-Myers Squibb by 34.6% during the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares during the last quarter. Atlantic Trust LLC purchased a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $111,000. Welch Investments LLC grew its holdings in shares of Bristol-Myers Squibb by 3.9% during the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at $116,000. Finally, Blue Chip Partners Inc. grew its holdings in shares of Bristol-Myers Squibb by 0.8% during the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
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About Bristol-Myers Squibb
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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