Bristol Myers Squibb (NYSE:BMY) Share Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Bristol Myers Squibb shares rose above their 50-day moving average, trading as high as $62.92 versus a $62.17 average, and last traded at $62.80.
• Analyst sentiment is mostly cautious: MarketBeat reports an average “Hold” rating and a $65.46 average price target, with 16 analysts rating the stock Hold.
• The company beat quarterly expectations, reporting EPS of $1.35 versus $1.10 expected and revenue of $13.07 billion, up 6.9% year over year. It also pays a quarterly dividend of $0.63, equivalent to a 4.0% yield.

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $62.17 and traded as high as $62.92. Bristol Myers Squibb shares last traded at $62.7990, with a volume of 7,617,086 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on BMY shares. Rothschild & Co Redburn lifted their target price on Bristol Myers Squibb from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. Sanford C. Bernstein reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 13th. Citigroup restated a "neutral" rating and issued a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, August 3rd. Zacks Research downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 22nd. Finally, Bank of America reaffirmed a "buy" rating on shares of Bristol Myers Squibb in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $65.46.

Bristol Myers Squibb Price Performance

The company has a debt-to-equity ratio of 1.79, a current ratio of 1.59 and a quick ratio of 1.44. The stock has a market capitalization of $128.37 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 0.32 and a beta of 0.20. The business's 50 day moving average price is $62.17 and its 200 day moving average price is $60.19.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.25. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.72 billion. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. Sell-side analysts forecast that Bristol Myers Squibb Company will post 6.45 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, October 2nd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 55.88%.

Insider Transactions at Bristol Myers Squibb

In other news, Director Julia A. Haller sold 3,800 shares of the firm's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $63.31, for a total transaction of $240,578.00. Following the transaction, the director owned 30,279 shares in the company, valued at approximately $1,916,963.49. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 500 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of the transaction, the senior vice president directly owned 16,862 shares of the company's stock, valued at $1,138,185. This trade represents a 2.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company's stock.

Institutional Trading of Bristol Myers Squibb

Several hedge funds have recently modified their holdings of the company. Tyche Wealth Partners LLC acquired a new stake in Bristol Myers Squibb in the third quarter valued at approximately $530,000. Focus Advisor Solutions LLC increased its position in shares of Bristol Myers Squibb by 82.2% during the third quarter. Focus Advisor Solutions LLC now owns 175,777 shares of the biopharmaceutical company's stock worth $10,969,000 after purchasing an additional 79,299 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Bristol Myers Squibb by 13.6% during the third quarter. Checchi Capital Advisers LLC now owns 9,936 shares of the biopharmaceutical company's stock worth $620,000 after purchasing an additional 1,187 shares in the last quarter. Bluebird Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb during the third quarter worth $200,000. Finally, Independent Advisor Alliance lifted its holdings in shares of Bristol Myers Squibb by 3.1% during the 3rd quarter. Independent Advisor Alliance now owns 100,536 shares of the biopharmaceutical company's stock valued at $6,267,000 after purchasing an additional 3,061 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease. The company's medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.

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