Bristol Myers Squibb (NYSE:BMY) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Bristol Myers Squibb Company (NYSE:BMY) shares passed above its fifty day moving average during trading on Tuesday. The stock has a fifty 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 changing hands.

Latest Bristol Myers Squibb News

Investors following BMY have been watching these news items:

• Positive Sentiment: Some analysts and commentators consider BMY attractively valued, citing roughly 10 times forward earnings and a view that shares remain below fair value despite a strong multi-year run. That could support investor interest if the company delivers on its cash-flow and pipeline prospects. Our Bristol Myers Squibb Stock Pick Is Up 35%. It’s Still a Good Bet in Healthcare. Bristol Myers Squibb Stock Looks Below Fair Value Following A 41% Run
• Neutral Sentiment: Bristol Myers plans to bring its scientific and clinical teams together in a unified R&D organization, aiming to accelerate development and make better use of new technologies. Research chief Robert Plenge is leaving as part of the change. The strategy could improve productivity, but the leadership transition and results of the restructuring remain uncertain. Bristol Myers to merge scientific, clinical teams under new R&D structure Bristol Myers research chief to depart in evolution of company’s structure
• Negative Sentiment: Drug-price negotiations are a potential longer-term headwind for BMY, with the article describing the company as facing a bigger test in the years ahead. The risk is not presented as an immediate revenue hit, but could weigh on future pricing and growth expectations. Drug pricing risks for pharmaceutical companies

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Bristol Myers Squibb from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. HSBC reissued a “hold” rating and set a $65.00 price target (up from $60.00) on shares of Bristol Myers Squibb in a report on Thursday, September 10th. The Goldman Sachs Group raised Bristol Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Bank of America restated a “buy” rating on shares of Bristol Myers Squibb in a research note on Friday, October 30th. Finally, Piper Sandler reduced their price objective on shares of Bristol Myers Squibb from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.46.

Bristol Myers Squibb Price Performance

The company has a 50 day moving average of $61.99 and a two-hundred day moving average of $60.27. The firm has a market cap of $127.58 billion, a P/E ratio of 10.10, a PEG ratio of 0.32 and a beta of 0.20. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.79.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same period in the previous year, the business earned $1.63 earnings per share. Bristol Myers Squibb’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.46 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s dividend payout ratio is 55.88%.

Insider Buying and Selling at Bristol Myers Squibb

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

Institutional Investors Weigh In On Bristol Myers Squibb

A number of large investors have recently made changes to their positions in BMY. BlackRock Inc. raised its stake in Bristol Myers Squibb by 5.1% during the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock valued at $10,393,783,000 after purchasing an additional 8,702,106 shares during the period. State Street Corp boosted its position in shares of Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock worth $6,093,755,000 after buying an additional 7,192,724 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Bristol Myers Squibb in the second quarter worth $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bristol Myers Squibb by 0.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company’s stock worth $1,315,984,000 after buying an additional 119,690 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bristol Myers Squibb by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company’s stock valued at $1,137,847,000 after buying an additional 520,330 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.