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

Bristol-Myers Squibb (NYSE:BMYGet Rating) CEO Giovanni Caforio sold 50,000 shares of the business’s 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 owns 501,104 shares of the company’s stock, valued at $35,999,311.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bristol-Myers Squibb Price Performance

BMY stock opened at $71.52 on Friday. The stock has a market cap of $152.71 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 1.52 and a beta of 0.43. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The company 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 1 year low of $53.22 and a 1 year high of $80.59.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its quarterly earnings results 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 period in the prior year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb will post 7.5 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 71.76%.

Wall Street Analyst Weigh In

Several research firms recently commented on BMY. UBS Group upped their price target on shares of Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. Atlantic Securities raised their price objective on Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. JPMorgan Chase & Co. increased their target price on Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. Finally, Citigroup reaffirmed a “buy” rating and set a $90.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMY. State Street Corp increased its position in Bristol-Myers Squibb by 2.2% in the 4th quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock valued at $5,901,176,000 after acquiring an additional 2,020,678 shares during the period. FMR LLC increased its holdings in Bristol-Myers Squibb by 7.2% in the second quarter. FMR LLC now owns 71,882,436 shares of the biopharmaceutical company’s stock valued at $5,534,947,000 after purchasing an additional 4,855,169 shares during the period. Geode Capital Management LLC raised its position in Bristol-Myers Squibb by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 37,863,099 shares of the biopharmaceutical company’s stock worth $2,354,737,000 after purchasing an additional 922,811 shares during the last quarter. Northern Trust Corp lifted its holdings in Bristol-Myers Squibb by 1.9% during the 2nd quarter. Northern Trust Corp now owns 24,550,030 shares of the biopharmaceutical company’s stock worth $1,890,352,000 after buying an additional 463,344 shares during the period. Finally, Capital International Investors bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at about $1,672,455,000. Institutional investors and hedge funds own 76.54% of the company’s stock.

Bristol-Myers Squibb Company Profile

(Get Rating)

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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