Investors Buy Large Volume of Call Options on Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMYGet Rating) was the recipient of unusually large options trading activity on Friday. Traders bought 42,112 call options on the stock. This represents an increase of approximately 30% compared to the average daily volume of 32,281 call options.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the transaction, the chief executive officer now owns 551,104 shares in the company, valued at approximately $40,803,740.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently modified their holdings of BMY. Mizuho Securities Co. Ltd. boosted its holdings in Bristol-Myers Squibb by 239.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 239 shares during the period. Spectrum Management Group LLC lifted its holdings in shares of Bristol-Myers Squibb by 113.1% during the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 181 shares during the period. Schubert & Co lifted its holdings in shares of Bristol-Myers Squibb by 119.1% during the 2nd quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 181 shares during the period. Castle Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth about $26,000. Finally, Nauset Wealth Management. LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $27,000. 76.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 17th. JPMorgan Chase & Co. upped their price target on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Atlantic Securities upped their price target on shares of Bristol-Myers Squibb from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Citigroup reaffirmed a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Finally, UBS Group increased their target price on shares of Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.57.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $70.16 on Friday. The company’s fifty day moving average is $72.95 and its 200-day moving average is $73.91. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59. The firm has a market cap of $149.81 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.43. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings data 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. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. Bristol-Myers Squibb’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. Equities analysts expect that Bristol-Myers Squibb will post 7.51 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio is currently 71.76%.

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.

Featured Stories

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.