Traders Buy Shares of Bristol-Myers Squibb (BMY) on Weakness

Investors bought shares of Bristol-Myers Squibb Co (NYSE:BMY) on weakness during trading hours on Monday. $155.60 million flowed into the stock on the tick-up and $108.92 million flowed out of the stock on the tick-down, for a money net flow of $46.68 million into the stock. Of all equities tracked, Bristol-Myers Squibb had the 23rd highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.12) for the day and closed at $50.10

BMY has been the topic of a number of research analyst reports. Credit Suisse Group set a $61.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Sunday, October 14th. ValuEngine lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $57.00 in a report on Monday, October 22nd. William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a report on Monday, October 22nd. Finally, Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, October 23rd. They issued an “outperform” rating and a $66.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $60.21.

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The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.53. The firm has a market cap of $81.97 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a net margin of 21.95% and a return on equity of 50.03%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb Co will post 4.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Friday, January 4th were paid a dividend of $0.41 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.

Several hedge funds have recently bought and sold shares of BMY. SFE Investment Counsel raised its position in shares of Bristol-Myers Squibb by 8.6% during the 3rd quarter. SFE Investment Counsel now owns 16,375 shares of the biopharmaceutical company’s stock worth $1,017,000 after purchasing an additional 1,290 shares during the last quarter. Benedict Financial Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 4.0% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 25,248 shares of the biopharmaceutical company’s stock worth $1,567,000 after purchasing an additional 974 shares during the last quarter. Yorktown Management & Research Co Inc raised its position in shares of Bristol-Myers Squibb by 400.0% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 20,000 shares of the biopharmaceutical company’s stock worth $1,242,000 after purchasing an additional 16,000 shares during the last quarter. Hollencrest Capital Management raised its position in shares of Bristol-Myers Squibb by 176.1% during the 4th quarter. Hollencrest Capital Management now owns 9,604 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 6,126 shares during the last quarter. Finally, Highwater Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $170,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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Bristol-Myers Squibb Company Profile (NYSE:BMY)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic areas, such as oncology; cardiovascular; immunoscience; and human immunodeficiency virus (HIV) infection. Its products include Opdivo, a biological product for anti-cancer indications; Eliquis, an inhibitor targeted at stroke prevention in atrial fibrillation and prevention and treatment of venous thromboembolic disorders; Orencia, a biological product that targets adult patients with active rheumatoid arthritis and prostate-specific antigen; and Sprycel, a tyrosine kinase inhibitor for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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