Bristol-Myers Squibb Company (BMY) Sets New 52-Week High at $65.06

Bristol-Myers Squibb Company (NYSE:BMY) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $65.06 and last traded at $65.11, with a volume of 3,012,331 shares trading hands. The stock had previously closed at $64.15.

A number of research analysts have commented on BMY shares. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 price target on the stock. in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, UBS AG reiterated a “buy” rating and set a $72.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $62.71.

The firm has a market cap of $106.78 billion, a P/E ratio of 23.78 and a beta of 1.19. The stock’s 50 day moving average is $62.24 and its 200 day moving average is $56.84.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. On average, analysts expect that Bristol-Myers Squibb Company will post $2.98 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 56.73%.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Chip Partners Inc. lifted its stake in Bristol-Myers Squibb by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 15 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its stake in Bristol-Myers Squibb by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 15 shares during the last quarter. Keel Point LLC lifted its stake in Bristol-Myers Squibb by 0.3% in the first quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock valued at $342,000 after acquiring an additional 18 shares during the last quarter. Staley Capital Advisers Inc. lifted its stake in Bristol-Myers Squibb by 0.3% in the first quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock valued at $379,000 after acquiring an additional 24 shares during the last quarter. Finally, Shayne & CO. LLC lifted its stake in Bristol-Myers Squibb by 0.6% in the second quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock valued at $225,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 68.87% 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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