Bristol-Myers Squibb (NYSE:BMY) Sets New 12-Month High After Insider Buying Activity

Bristol-Myers Squibb (NYSE:BMY) shares reached a new 52-week high on Wednesday after an insider bought additional shares in the company. The stock traded as high as $56.78 and last traded at $56.78, with a volume of 201964 shares traded. The stock had previously closed at $55.95.

Specifically, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. UBS Group raised their target price on 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, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Stock Performance

The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $51.69 and a 200 day simple moving average of $46.72.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 company 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 posted $2.00 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.9 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm 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. This represents a $2.40 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in BMY. Capital International Investors increased its position in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $392,608,000. Price T Rowe Associates Inc. MD grew its stake in Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the period. Federated Hermes Inc. raised its holdings in Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares in the last quarter. Finally, Swedbank AB bought a new position in Bristol-Myers Squibb in the first quarter worth $158,223,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

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.