Investors Sell Shares of Bristol-Myers Squibb (BMY) on Strength (BMY)
Traders sold shares of Bristol-Myers Squibb Company (NYSE:BMY) on strength during trading hours on Tuesday. $39.47 million flowed into the stock on the tick-up and $99.68 million flowed out of the stock on the tick-down, for a money net flow of $60.21 million out of the stock. Of all equities tracked, Bristol-Myers Squibb had the 24th highest net out-flow for the day. Bristol-Myers Squibb traded up $0.26 for the day and closed at $63.28
A number of research analysts have weighed in on the company. BMO Capital Markets set a $49.00 price target on Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Monday. Citigroup set a $72.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Tuesday, December 5th. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Vetr cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 price objective for the company. in a research report on Thursday, September 28th. Finally, Cowen set a $65.00 price objective on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $64.93.
The stock has a market cap of $102,146.62, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.37 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be issued a dividend of $0.40 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 61.42%.
In related news, EVP Sandra Leung sold 156,582 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at approximately $37,031,717.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BMY. Vanguard Group Inc. increased its stake in Bristol-Myers Squibb by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after acquiring an additional 333,685 shares during the period. BlackRock Inc. increased its stake in Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after acquiring an additional 2,367,864 shares during the period. State Street Corp increased its stake in Bristol-Myers Squibb by 1.8% during the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after acquiring an additional 1,223,457 shares during the period. Dodge & Cox increased its stake in Bristol-Myers Squibb by 1.6% during the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after acquiring an additional 459,271 shares during the period. Finally, Jennison Associates LLC increased its stake in Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after acquiring an additional 3,735,453 shares during the period. 69.82% of the stock is owned by institutional investors and hedge funds.
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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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