Investors Buy Bristol-Myers Squibb (BMY) on Weakness
Traders bought shares of Bristol-Myers Squibb Co (NYSE:BMY) on weakness during trading on Thursday. $183.86 million flowed into the stock on the tick-up and $110.16 million flowed out of the stock on the tick-down, for a money net flow of $73.70 million into the stock. Of all stocks tracked, Bristol-Myers Squibb had the 18th highest net in-flow for the day. Bristol-Myers Squibb traded down ($3.27) for the day and closed at $57.50
A number of brokerages have commented on BMY. Barclays lifted their target price on Bristol-Myers Squibb from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday. Guggenheim began coverage on Bristol-Myers Squibb in a research note on Monday, October 8th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Friday, October 5th. Finally, Credit Suisse Group restated a “hold” rating and issued a $61.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $63.13.
The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $101.47 billion, a PE ratio of 19.11, a P/E/G ratio of 1.70 and a beta of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, October 5th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Bristol-Myers Squibb’s dividend payout ratio is presently 53.16%.
Hedge funds and other institutional investors have recently modified their holdings of the company. CSat Investment Advisory L.P. acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth approximately $113,000. Landaas & Co. WI ADV acquired a new stake in Bristol-Myers Squibb in the second quarter worth approximately $131,000. Mount Yale Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb in the first quarter worth approximately $179,000. Selective Wealth Management acquired a new stake in Bristol-Myers Squibb in the third quarter worth approximately $184,000. Finally, LFA Lugano Financial Advisors SA lifted its position in Bristol-Myers Squibb by 85.8% in the third quarter. LFA Lugano Financial Advisors SA now owns 3,207 shares of the biopharmaceutical company’s stock worth $199,000 after purchasing an additional 1,481 shares during the period. Institutional investors and hedge funds own 72.28% of the company’s stock.
About Bristol-Myers Squibb (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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