Investors Buy Bristol-Myers Squibb (BMY) on Weakness

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Investors bought shares of Bristol-Myers Squibb Co (NYSE:BMY) on weakness during trading hours on Tuesday. $71.77 million flowed into the stock on the tick-up and $37.84 million flowed out of the stock on the tick-down, for a money net flow of $33.93 million into the stock. Of all stocks tracked, Bristol-Myers Squibb had the 29th highest net in-flow for the day. Bristol-Myers Squibb traded down ($0.24) for the day and closed at $60.08

A number of equities research analysts recently issued reports on the stock. Atlantic Securities raised shares of Bristol-Myers Squibb from an “underweight” rating to a “neutral” rating and set a $57.00 price target on the stock in a research note on Wednesday, August 8th. SunTrust Banks reissued a “buy” rating and issued a $67.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, July 31st. Credit Suisse Group lifted their price target on shares of Bristol-Myers Squibb from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $47.00 to $51.00 and gave the company a “market perform” rating in a research note on Monday, July 23rd. Finally, Jefferies Financial Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $63.11.

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 1.40. The company has a market capitalization of $99.53 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. research analysts predict that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Friday, July 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $1.60 annualized dividend and a yield of 2.66%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Bristol-Myers Squibb by 7.2% during the 2nd quarter. BlackRock Inc. now owns 111,913,559 shares of the biopharmaceutical company’s stock valued at $6,193,296,000 after acquiring an additional 7,517,623 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Bristol-Myers Squibb by 114.5% during the 2nd quarter. Janus Henderson Group PLC now owns 6,922,917 shares of the biopharmaceutical company’s stock valued at $383,119,000 after acquiring an additional 3,695,485 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Bristol-Myers Squibb by 4,455.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,416,898 shares of the biopharmaceutical company’s stock valued at $189,091,000 after acquiring an additional 3,341,898 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Bristol-Myers Squibb by 419.0% during the 2nd quarter. Schroder Investment Management Group now owns 3,851,748 shares of the biopharmaceutical company’s stock valued at $213,003,000 after acquiring an additional 3,109,664 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $134,854,000. 72.12% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Company Profile (NYSE:BMY)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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