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

Traders 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 Bristol-Myers Squibb stock in a transaction dated 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 transaction, the executive vice president now owns 584,373 shares in the company, valued at approximately $37,031,717.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Several research firms have recently weighed in on BMY. Barclays lifted their price objective on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, October 13th. Jefferies Group lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 target price on the stock. in a research report on Monday, October 16th. BMO Capital Markets set a $49.00 target price on Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Thursday, October 12th. Leerink Swann lifted their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Finally, Citigroup lifted their target price on Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $64.93.

The stock has a market cap of $102,244.66, a PE ratio of 21.10, 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.

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

Large investors have recently bought and sold shares of the business. Connecticut Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $224,000. Birmingham Capital Management Co. Inc. AL increased its holdings in shares of Bristol-Myers Squibb by 4.4% during the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 70,973 shares of the biopharmaceutical company’s stock worth $3,860,000 after acquiring an additional 3,000 shares during the last quarter. HGK Asset Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 20.8% during the 1st quarter. HGK Asset Management Inc. now owns 308,825 shares of the biopharmaceutical company’s stock worth $16,794,000 after acquiring an additional 53,221 shares during the last quarter. Investment Partners Ltd. OH ADV increased its holdings in shares of Bristol-Myers Squibb by 1.4% during the 1st quarter. Investment Partners Ltd. OH ADV now owns 20,350 shares of the biopharmaceutical company’s stock worth $1,107,000 after acquiring an additional 274 shares during the last quarter. Finally, Goelzer Investment Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 85.4% during the 1st quarter. Goelzer Investment Management Inc. now owns 75,402 shares of the biopharmaceutical company’s stock worth $4,100,000 after acquiring an additional 34,735 shares during the last quarter. 69.82% 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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