Traders Buy High Volume of Bristol-Myers Squibb Company Call Options (NYSE:BMY)
Bristol-Myers Squibb Company (NYSE:BMY) was the recipient of unusually large options trading on Tuesday. Stock traders bought 33,299 call options on the company. This is an increase of approximately 214% compared to the typical volume of 10,594 call options.
Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in Bristol-Myers Squibb Company by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after buying an additional 1,223,457 shares in the last quarter. Dodge & Cox purchased a new position in shares of Bristol-Myers Squibb Company during the fourth quarter valued at about $1,316,815,000. Jennison Associates LLC boosted its position in shares of Bristol-Myers Squibb Company by 0.8% in the first quarter. Jennison Associates LLC now owns 21,927,898 shares of the biopharmaceutical company’s stock valued at $1,192,439,000 after buying an additional 178,436 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Bristol-Myers Squibb Company by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Bristol-Myers Squibb Company during the fourth quarter valued at about $770,318,000. 69.75% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on BMY. BidaskClub raised Bristol-Myers Squibb Company from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 target price (up previously from $64.00) on shares of Bristol-Myers Squibb Company in a report on Saturday, March 11th. BMO Capital Markets downgraded Bristol-Myers Squibb Company from a “market perform” rating to an “underperform” rating and set a $47.00 target price for the company. in a report on Wednesday, May 3rd. Vetr raised Bristol-Myers Squibb Company from a “buy” rating to a “strong-buy” rating and set a $60.09 target price for the company in a report on Wednesday, April 5th. Finally, Robert W. Baird began coverage on Bristol-Myers Squibb Company in a report on Tuesday, April 25th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $62.41.
Shares of Bristol-Myers Squibb Company (NYSE BMY) opened at 55.28 on Friday. Bristol-Myers Squibb Company has a 52-week low of $46.01 and a 52-week high of $77.12. The stock has a 50 day moving average price of $54.58 and a 200-day moving average price of $55.03. The stock has a market capitalization of $91.07 billion, a PE ratio of 19.20 and a beta of 1.17.
Bristol-Myers Squibb Company (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Bristol-Myers Squibb Company had a return on equity of 31.86% and a net margin of 24.22%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb Company will post $2.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.82%. Bristol-Myers Squibb Company’s dividend payout ratio is currently 54.17%.
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Bristol-Myers Squibb Company Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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