Investors Sell Shares of Bristol-Myers Squibb Company (NYSE:BMY) on Strength (NYSE:BMY)

Investors sold shares of Bristol-Myers Squibb Company (NYSE:BMY) on strength during trading hours on Wednesday. $57.32 million flowed into the stock on the tick-up and $75.84 million flowed out of the stock on the tick-down, for a money net flow of $18.52 million out of the stock. Of all stocks tracked, Bristol-Myers Squibb had the 25th highest net out-flow for the day. Bristol-Myers Squibb traded up $0.49 for the day and closed at $57.40

A number of equities research analysts have recently commented on the stock. BidaskClub downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Vetr downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 price target for the company. in a report on Tuesday, July 25th. Leerink Swann lowered their price target on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 28th. William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a report on Monday, June 26th. Finally, BMO Capital Markets reiterated an “underperform” rating and set a $47.00 price target (down from $51.00) on shares of Bristol-Myers Squibb in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $63.33.

The firm has a market cap of $94.13 billion, a PE ratio of 20.96 and a beta of 1.17. The firm’s 50-day moving average price is $55.66 and its 200 day moving average price is $54.52.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb Company will post $2.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.72%. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.

In related news, Director Theodore R. Samuels II purchased 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BMY. American National Bank increased its position in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Tradewinds Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares during the period. Welch Investments LLC increased its position in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $116,000. Finally, Blue Chip Partners Inc. increased its position in shares of Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the period. Institutional investors own 69.79% of the company’s stock.

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Bristol-Myers Squibb Company Profile

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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