Investors Buy Bristol-Myers Squibb (BMY) on Weakness Following Insider Selling

Investors purchased shares of Bristol-Myers Squibb Company (NYSE:BMY) on weakness during trading on Tuesday after an insider sold shares in the company. $87.98 million flowed into the stock on the tick-up and $37.58 million flowed out of the stock on the tick-down, for a money net flow of $50.40 million into the stock. Of all companies tracked, Bristol-Myers Squibb had the 27th highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.45) for the day and closed at $62.02Specifically, EVP Sandra Leung sold 156,582 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $63.37, for a total value of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Several research firms have weighed in on BMY. UBS restated a “buy” rating and set a $72.00 target price (up from $62.00) on shares of Bristol-Myers Squibb in a report on Friday, October 6th. Vetr upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 target price on the stock in a report on Monday, October 9th. Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. BMO Capital Markets restated a “sell” rating and set a $49.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 4th. Finally, Citigroup raised their target price on Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.93.

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 firm has a market capitalization of $102,244.66, a P/E ratio of 21.10, a P/E/G ratio of 2.37 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. sell-side analysts forecast that Bristol-Myers Squibb Company will post 2.99 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BMY. Tradewinds Capital Management LLC boosted its holdings in 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 purchasing an additional 500 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Bristol-Myers Squibb during the second quarter valued at approximately $111,000. Massey Quick Simon & CO. LLC boosted its holdings in Bristol-Myers Squibb by 523.5% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 1,492 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Bristol-Myers Squibb by 29.6% during the first quarter. Proficio Capital Partners LLC now owns 2,204 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 504 shares in the last quarter. Finally, American National Bank boosted its holdings in Bristol-Myers Squibb by 11.7% during the second quarter. American National Bank now owns 2,144 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 225 shares in the last quarter. 69.82% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://stocknewstimes.com/2017/12/06/investors-buy-bristol-myers-squibb-bmy-on-weakness-following-insider-selling.html.

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 Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply