Bristol-Myers Squibb (NYSE:BMY) Shares Gap Up – Still a Buy?

Bristol-Myers Squibb (NYSE:BMY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $54.14, but opened at $60.72. Bristol-Myers Squibb shares last traded at $60.40, with a volume of 7,278,904 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on 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. Morgan Stanley upped their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.07.

Bristol-Myers Squibb Price Performance

The stock has a fifty day moving average of $52.07 and a 200-day moving average of $46.89. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced 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 dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -66.85%.

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BMY. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the last quarter. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb in the 1st quarter valued at $27,000. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $28,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $29,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.