Bristol-Myers Squibb (NYSE:BMY) Hits New 52-Week High on Insider Buying Activity

Bristol-Myers Squibb (NYSE:BMY)’s stock price hit a new 52-week high during mid-day trading on Wednesday following insider buying activity. The company traded as high as $56.78 and last traded at $56.78, with a volume of 201964 shares changing hands. The stock had previously closed at $55.95.

Specifically, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $55.00 in a research report on Friday, October 25th. UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 1.2 %

The stock’s fifty day moving average is $51.69 and its 200 day moving average is $46.72. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $112.12 billion, a P/E ratio of -15.40, a price-to-earnings-growth ratio of 13.14 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the business earned $2.00 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts predict that Bristol-Myers Squibb will post 0.83 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.34%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMY. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Hollencrest Capital Management increased its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares in the last quarter. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth about $27,000. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $28,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.