Traders purchased shares of Bristol-Myers Squibb Company (NYSE:BMY) on weakness during trading hours 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 stocks 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 stock in a transaction on Monday, December 4th. The shares were sold at an average price of $63.37, for a total value of $9,922,601.34. Following the completion of the transaction, the executive vice president now owns 584,373 shares in the company, valued at approximately $37,031,717.01. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
BMY has been the subject of a number of recent analyst reports. UBS reiterated a “buy” rating and set a $72.00 target price (up previously from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Vetr upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $67.92 target price for the company in a research report on Monday, October 9th. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. BMO Capital Markets reiterated a “sell” rating and set a $49.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 4th. Finally, Citigroup increased their target price on shares of Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $64.93.
The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47. The firm has a market cap of $99,860.00, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17.
Institutional investors and hedge funds have recently bought and sold shares of the business. Tradewinds Capital Management LLC boosted its stake in shares of Bristol-Myers Squibb by 34.6% in the 2nd 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 during the last quarter. Atlantic Trust LLC bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $111,000. Massey Quick Simon & CO. LLC boosted its stake in shares of Bristol-Myers Squibb by 523.5% in the 3rd 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 during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Bristol-Myers Squibb by 29.6% in the 1st 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 during the last quarter. Finally, American National Bank boosted its stake in shares of Bristol-Myers Squibb by 11.7% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Investors Buy Shares of Bristol-Myers Squibb (BMY) on Weakness Following Insider Selling” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/12/07/investors-buy-shares-of-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.