Exclusive: Is Bristol-Myers Squibb Co’s Fuel Running Low? The Stock Just Gapped Down

Exclusive: Is Bristol Myers Squibb Co's Fuel Running Low? The Stock Just Gapped Down

The stock of Bristol-Myers Squibb Co (NYSE:BMY) gapped down by $3.76 today and has $45.25 target or 9.00% below today’s $49.72 share price. The 8 months technical chart setup indicates high risk for the $83.80B company. The gap down was reported on Oct, 10 by Barchart.com. If the $45.25 price target is reached, the company will be worth $7.54 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 59.92 million shares traded hands or 399.75% up from the average. Bristol-Myers Squibb Co (NYSE:BMY) has declined 16.63% since March 7, 2016 and is downtrending. It has underperformed by 24.23% the S&P500.

Analysts await Bristol-Myers Squibb Co (NYSE:BMY) to report earnings on October, 25. They expect $0.63 EPS, up 61.54% or $0.24 from last year’s $0.39 per share. BMY’s profit will be $1.06 billion for 19.73 P/E if the $0.63 EPS becomes a reality. After $0.69 actual EPS reported by Bristol-Myers Squibb Co for the previous quarter, Wall Street now forecasts -8.70% negative EPS growth.

Bristol-Myers Squibb Co (NYSE:BMY) Ratings Coverage

Out of 15 analysts covering Bristol-Myers Squibb Company (NYSE:BMY), 5 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 33% are positive. Bristol-Myers Squibb Company has been the topic of 33 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Bristol-Myers Squibb Co (NYSE:BMY) earned “Hold” rating by Jefferies on Thursday, July 14. On Monday, May 23 the stock rating was initiated by Hilliard Lyons with “Neutral”. UBS maintained the stock with “Buy” rating in Friday, August 19 report. The stock has “Buy” rating given by Guggenheim on Wednesday, December 2. The stock has “Hold” rating given by Jefferies on Tuesday, June 14. On Wednesday, April 6 the stock rating was initiated by Societe Generale with “Sell”. The stock of Bristol-Myers Squibb Co (NYSE:BMY) earned “Outperform” rating by Credit Suisse on Monday, May 9. The firm has “Hold” rating by Jefferies given on Thursday, August 27. The firm has “Underweight” rating given on Friday, December 18 by Atlantic Securities. The rating was downgraded by Berenberg to “Hold” on Thursday, August 11.

According to Zacks Investment Research, “Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression, schizophrenia and other mental disorders; pain; and other conditions.”

Insitutional Activity: The institutional sentiment increased to 0.94 in 2016 Q2. Its up 0.01, from 0.93 in 2016Q1. The ratio increased, as 47 funds sold all Bristol-Myers Squibb Co shares owned while 542 reduced positions. 84 funds bought stakes while 472 increased positions. They now own 1.19 billion shares or 3.56% less from 1.23 billion shares in 2016Q1.
South Street Advsr Ltd Liability holds 4,425 shares or 0.1% of its portfolio. Winslow Cap Mgmt Lc holds 2.09% or 6.95 million shares in its portfolio. Public Employees Retirement Association Of Colorado has invested 0.78% of its portfolio in Bristol-Myers Squibb Co (NYSE:BMY). Parasol Management Ltd has 3,370 shares for 0.26% of their US portfolio. Mechanics Retail Bank Trust Department has 132,829 shares for 3.6% of their US portfolio. Moreover, Coastline Tru has 0.43% invested in Bristol-Myers Squibb Co (NYSE:BMY) for 28,820 shares. Moreover, Centurylink has 0.85% invested in Bristol-Myers Squibb Co (NYSE:BMY) for 32,648 shares. Moreover, Oarsman Cap has 0.17% invested in Bristol-Myers Squibb Co (NYSE:BMY) for 4,325 shares. Godshalk Welsh Capital Management Incorporated, a Pennsylvania-based fund reported 4,250 shares. Berkshire Asset Mngmt Limited Liability Company Pa accumulated 0.07% or 5,997 shares. Ar Asset Management Inc has 59,924 shares for 1.85% of their US portfolio. Century Cos last reported 0.6% of its portfolio in the stock. Robshaw & Julian Associates has 0.56% invested in the company for 10,000 shares. The Florida-based Raymond James Fincl Incorporated has invested 0.44% in Bristol-Myers Squibb Co (NYSE:BMY). Amer International Gru, a New York-based fund reported 563,589 shares.

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 9 sales for $16.83 million net activity. Elicker John E also sold $859,219 worth of Bristol-Myers Squibb Co (NYSE:BMY) shares. 34,594 shares with value of $2.47 million were sold by Caforio Giovanni on Tuesday, May 3. LEUNG SANDRA sold $5.11M worth of stock or 72,544 shares. $1.37 million worth of Bristol-Myers Squibb Co (NYSE:BMY) was sold by ANDREOTTI LAMBERTO on Wednesday, August 24. Another trade for 3,519 shares valued at $255,004 was made by Caldarella Joseph C on Monday, May 16. Another trade for 30,201 shares valued at $2.14M was made by Bancroft Charles A on Friday, May 20.

More notable recent Bristol-Myers Squibb Co (NYSE:BMY) news were published by: Investorplace.com which released: “3 Stocks to Watch Monday: Mylan NV (MYL), Bristol-Myers Squibb Co (BMY) and …” on October 10, 2016, also Nasdaq.com with their article: “Bristol-Myers Squibb Enters Oversold Territory” published on October 10, 2016, Businesswire.com published: “Opdivo (nivolumab) Shows Durable Response in Longest Follow-up for a PD-1 …” on October 09, 2016. More interesting news about Bristol-Myers Squibb Co (NYSE:BMY) were released by: Businesswire.com and their article: “New Research From Bristol-Myers Squibb at ESMO 2016 Congress Reinforces …” published on October 03, 2016 as well as Benzinga.com‘s news article titled: “Jim Cramer Shares His Thoughts On Bristol-Myers Squibb Co And Sirius XM …” with publication date: October 08, 2016.

BMY Company Profile

Bristol-Myers Squibb Company, incorporated on August 11, 1933, 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 (involving recombinant deoxyribonucleic acid (DNA) technology) called biologics. Small molecule drugs are administered orally in the form of a pill or tablet. Biologics are administered to patients through injections or by infusion. It offers products for a range of therapeutic classes, which include virology, including human immunodeficiency virus (HIV) infection; oncology; immunoscience; cardiovascular, and neuroscience. The Company’s products are sold to wholesalers, retail pharmacies, hospitals, government entities and the medical profession across the world.

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