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

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.

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

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.

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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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