Investors sold shares of Bristol-Myers Squibb Co. (NYSE:BMY) on strength during trading hours on Wednesday after Citigroup lowered their price target on the stock from $75.00 to $70.00. $110.56 million flowed into the stock on the tick-up and $187.90 million flowed out of the stock on the tick-down, for a money net flow of $77.34 million out of the stock. Of all stocks tracked, Bristol-Myers Squibb had the 0th highest net out-flow for the day. Bristol-Myers Squibb traded up $0.37 for the day and closed at $55.93
Other research analysts have also recently issued reports about the stock. SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $86.00 to $68.00 in a research report on Friday, August 5th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Deutsche Bank AG reissued a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. Morgan Stanley cut shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price on the stock. in a research report on Friday, August 5th. Finally, Vetr raised shares of 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. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $69.64.
In related news, Director Lamberto Andreotti sold 21,600 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock valued at $2,858,131,000 after buying an additional 844,233 shares during the last quarter. Jennison Associates LLC increased its stake in Bristol-Myers Squibb by 4.1% in the second quarter. Jennison Associates LLC now owns 28,064,140 shares of the biopharmaceutical company’s stock valued at $2,064,118,000 after buying an additional 1,099,210 shares during the last quarter. BlackRock Fund Advisors increased its stake in Bristol-Myers Squibb by 2.9% in the second quarter. BlackRock Fund Advisors now owns 23,780,943 shares of the biopharmaceutical company’s stock valued at $1,749,088,000 after buying an additional 659,425 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in Bristol-Myers Squibb by 5.2% in the second quarter. Janus Capital Management LLC now owns 21,937,539 shares of the biopharmaceutical company’s stock valued at $1,613,481,000 after buying an additional 1,094,167 shares during the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $93.45 billion, a price-to-earnings ratio of 32.71 and a beta of 0.61. The firm has a 50 day moving average of $59.04 and a 200-day moving average of $67.58.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. Bristol-Myers Squibb’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. On average, analysts forecast that Bristol-Myers Squibb Co. will post $2.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 2.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
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.
Receive News & Ratings for Bristol-Myers Squibb Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Co. and related companies with MarketBeat.com's FREE daily email newsletter.