Bristol-Myers Squibb Target of Unusually High Options Trading (BMY)
Bristol-Myers Squibb Company (NYSE:BMY) was the target of some unusual options trading activity on Thursday. Investors acquired 781 put options on the stock. This represents an increase of 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE BMY) opened at 62.48 on Friday. The company has a 50-day moving average of $58.56 and a 200-day moving average of $55.95. The company has a market cap of $102.46 billion, a P/E ratio of 22.82 and a beta of 1.18. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $63.47.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post $2.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.50%. Bristol-Myers Squibb’s payout ratio is 56.73%.
BMY has been the topic of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Bristol-Myers Squibb in a report on Monday, June 5th. BidaskClub upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price on the stock. in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $62.66.
In other news, Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC raised its holdings in Bristol-Myers Squibb by 34.6% during the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 500 shares during the last quarter. Atlantic Trust LLC acquired a new position in Bristol-Myers Squibb during the second quarter worth $111,000. Welch Investments LLC raised its holdings in Bristol-Myers Squibb by 3.9% during the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 79 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth $116,000. Finally, Blue Chip Partners Inc. raised its holdings in Bristol-Myers Squibb by 0.8% during the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.
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Bristol-Myers Squibb 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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