Giovanni Caforio Sells 50,000 Shares of Bristol-Myers Squibb (NYSE:BMY) Stock

Bristol-Myers Squibb (NYSE:BMYGet Rating) CEO Giovanni Caforio sold 50,000 shares of Bristol-Myers Squibb stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 501,104 shares of the company’s stock, valued at $35,999,311.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $71.52 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44. The firm has a market capitalization of $152.71 billion, a PE ratio of 23.76, a P/E/G ratio of 1.52 and a beta of 0.43. The stock has a 50 day simple moving average of $72.50 and a 200 day simple moving average of $73.98. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $80.59.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts predict that Bristol-Myers Squibb will post 7.5 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio is presently 71.76%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of large investors have recently bought and sold shares of BMY. Schubert & Co lifted its position in shares of Bristol-Myers Squibb by 119.1% in the second quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 181 shares in the last quarter. Mizuho Securities Co. Ltd. increased its stake in Bristol-Myers Squibb by 239.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 239 shares during the last quarter. Castle Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth about $26,000. Spectrum Management Group LLC boosted its stake in shares of Bristol-Myers Squibb by 113.1% during the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 181 shares during the last quarter. Finally, Nauset Wealth Management. LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. Institutional investors and hedge funds own 76.54% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, September 12th. Berenberg Bank lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and reduced their price target for the stock from $82.00 to $76.00 in a research report on Wednesday. UBS Group upped their price objective on Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Finally, Atlantic Securities raised their target price on Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.36.

Bristol-Myers Squibb Company Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Insider Buying and Selling by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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