The stock of Bristol-Myers Squibb Co (NYSE:BMY) hit a new 52-week low and has $47.20 target or 6.00% below today’s $50.21 share price. The 5 months bearish chart indicates high risk for the $84.67 billion company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $47.20 price target is reached, the company will be worth $5.08B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 6.23 million shares traded hands. Bristol-Myers Squibb Co (NYSE:BMY) has declined 22.99% since March 10, 2016 and is downtrending. It has underperformed by 30.51% 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 19.93 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. $80 is the highest target while $57 is the lowest. The $70.78 average target is 40.97% above today’s ($50.21) stock price. Bristol-Myers Squibb Company has been the topic of 33 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Thursday, July 14 by Jefferies. On Friday, January 22 the stock rating was upgraded by Berenberg to “Buy”. The stock of Bristol-Myers Squibb Co (NYSE:BMY) has “Hold” rating given on Thursday, August 27 by Jefferies. The stock of Bristol-Myers Squibb Co (NYSE:BMY) has “Hold” rating given on Thursday, August 11 by Berenberg. The company was maintained on Tuesday, March 15 by Jefferies. On Wednesday, December 2 the stock rating was upgraded by Guggenheim to “Buy”. Barclays Capital maintained Bristol-Myers Squibb Co (NYSE:BMY) rating on Friday, September 9. Barclays Capital has “Equal-Weight” rating and $65 price target. As per Tuesday, December 1, the company rating was maintained by Barclays Capital. The stock of Bristol-Myers Squibb Co (NYSE:BMY) earned “Buy” rating by Citigroup on Tuesday, September 20. The firm earned “Equal-Weight” rating on Friday, August 5 by Morgan Stanley.
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 Q2 2016. Its up 0.01, from 0.93 in 2016Q1. The ratio is positive, 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.
Estabrook Management accumulated 27,230 shares or 0% of the stock. Covington Mgmt, a California-based fund reported 141,900 shares. Columbus Circle last reported 3.39 million shares in the company. First In owns 12,390 shares or 0.53% of their US portfolio. Weatherstone Management, a Colorado-based fund reported 7,319 shares. Cypress Cap Management Ltd Liability Co (Wy) has 16,592 shares for 0% of their US portfolio. Moreover, Cupps Cap Mngmt Limited Co has 0.95% invested in Bristol-Myers Squibb Co (NYSE:BMY) for 50,076 shares. Cobblestone Cap Lc Ny, a New York-based fund reported 6,502 shares. Rock Springs Management Ltd Partnership holds 1.07% or 196,500 shares in its portfolio. Principal Group has invested 0.27% of its portfolio in Bristol-Myers Squibb Co (NYSE:BMY). Stonebridge Cap Ltd reported 22,728 shares or 0.57% of all its holdings. Pettyjohn Wood & White accumulated 8,275 shares or 0.24% of the stock. The Massachusetts-based Adage Capital Partners Gp Ltd Liability Corp has invested 1.08% in Bristol-Myers Squibb Co (NYSE:BMY). Rench Wealth Management accumulated 0.24% or 4,035 shares. Btim reported 18,169 shares or 0.02% of all its holdings.
Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 9 sales for $16.83 million net activity. The insider ANDREOTTI LAMBERTO sold 23,200 shares worth $1.37M. Bancroft Charles A sold 30,201 shares worth $2.14 million. On Monday, May 16 the insider Caldarella Joseph C sold $255,004. The insider Caforio Giovanni sold $2.47 million. Shares for $5.11 million were sold by LEUNG SANDRA on Friday, May 6. Elicker John E sold $859,219 worth of Bristol-Myers Squibb Co (NYSE:BMY) on Tuesday, June 14.
More notable recent Bristol-Myers Squibb Co (NYSE:BMY) news were published by: Fool.com which released: “CheckMate Again for Bristol-Myers Squibb Co. As Shares Dip 10%” on October 10, 2016, also Seekingalpha.com with their article: “Bristol-Myers Squibb: The Opdivo Fiasco” published on October 11, 2016, Fool.com published: “Why Bristol-Myers Squibb, Myriad Genetics, and Twilio Slumped Today” on October 10, 2016. More interesting news about Bristol-Myers Squibb Co (NYSE:BMY) were released by: Etfdailynews.com and their article: “Bristol-Myers Shares Plunge 7% as Lung Cancer Drug Fails Again” published on October 10, 2016 as well as Prnewswire.com‘s news article titled: “Research Reports on Drug Makers Equities — Bristol-Myers Squibb, AstraZeneca …” with publication date: October 12, 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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