Stock Mover of The Day: After Touching Yearly Low, Is Bristol-Myers Squibb Co’s Near-Term Analysis Negative?

Stock Mover of The Day: After Touching Yearly Low, Is Bristol Myers Squibb Co's Near Term Analysis Negative?

The stock of Bristol-Myers Squibb Co (NYSE:BMY) hit a new 52-week low and has $46.32 target or 6.00% below today’s $49.28 share price. The 8 months bearish chart indicates high risk for the $81.57B company. The 1-year low was reported on Oct, 17 by If the $46.32 price target is reached, the company will be worth $4.89B 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 3.47 million shares traded hands. Bristol-Myers Squibb Co (NYSE:BMY) has declined 22.38% since March 14, 2016 and is downtrending. It has underperformed by 27.99% 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 $1.04 billion for 19.56 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 43.63% above today’s ($49.28) stock price. Bristol-Myers Squibb Company has been the topic of 33 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by Berenberg on Thursday, August 11 to “Hold”. Jefferies maintained the stock with “Hold” rating in Thursday, July 14 report. The company was maintained on Friday, April 29 by Barclays Capital. The rating was upgraded by Guggenheim on Wednesday, December 2 to “Buy”. Jefferies maintained Bristol-Myers Squibb Co (NYSE:BMY) on Tuesday, June 14 with “Hold” rating. The firm has “Buy” rating given on Friday, April 29 by UBS. Piper Jaffray upgraded the stock to “Underweight” rating in Monday, August 24 report. The stock of Bristol-Myers Squibb Co (NYSE:BMY) has “Outperform” rating given on Monday, May 9 by Credit Suisse. On Monday, May 23 the stock rating was initiated by Hilliard Lyons with “Neutral”. The firm earned “Hold” rating on Tuesday, March 15 by Jefferies.

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 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.
Fcm Invests Tx accumulated 0.03% or 610 shares. Mizuho Asset Management Coltd accumulated 0.7% or 52,762 shares. Telemus Ltd Limited Liability Company reported 11,862 shares or 0.11% of all its holdings. Sustainable Growth Advisers Lp reported 1.40 million shares or 2.17% of all its holdings. West Oak Cap Limited Liability Corporation last reported 0% of its portfolio in the stock. Hanseatic Management Inc holds 8,140 shares or 0.23% of its portfolio. Delta Asset Ltd Company Tn, a Tennessee-based fund reported 63,682 shares. Rockefeller Financial Svcs Inc accumulated 23,746 shares or 0.03% of the stock. Moreover, Twin Tree Mngmt L P has 0% invested in Bristol-Myers Squibb Co (NYSE:BMY) for 1,985 shares. Point72 Asset Mgmt Limited Partnership holds 0.24% of its portfolio in Bristol-Myers Squibb Co (NYSE:BMY) for 470,600 shares. Ifc Fl accumulated 8,846 shares or 0.07% of the stock. Becker Capital Mngmt has 4,607 shares for 0.01% of their US portfolio. Moreover, Hirtle Callaghan & Llc has 0.19% invested in Bristol-Myers Squibb Co (NYSE:BMY) for 14,200 shares. Garrison Bradford Associate Inc accumulated 4,000 shares or 0.29% of the stock. Aviva Public Ltd holds 0.57% of its portfolio in Bristol-Myers Squibb Co (NYSE:BMY) for 1.14 million shares.

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 9 selling transactions for $16.83 million net activity. The insider Caforio Giovanni sold $2.47M. ANDREOTTI LAMBERTO had sold 21,600 shares worth $1.23 million. Bancroft Charles A sold $2.14 million worth of stock. Elicker John E sold $859,219 worth of stock. LEUNG SANDRA sold $5.11M worth of stock or 72,544 shares. 3,519 Bristol-Myers Squibb Co (NYSE:BMY) shares with value of $255,004 were sold by Caldarella Joseph C.

More notable recent Bristol-Myers Squibb Co (NYSE:BMY) news were published by: which released: “CheckMate Again for Bristol-Myers Squibb Co. As Shares Dip 10%” on October 10, 2016, also with their article: “Pfizer and Bristol-Myers Squibb Could Face a Big Threat from Small Biotech …” published on October 17, 2016, published: “Bristol-Myers Squibb Receives Positive CHMP Opinion for Opdivo (nivolumab) for …” on October 14, 2016. More interesting news about Bristol-Myers Squibb Co (NYSE:BMY) were released by: and their article: “Bristol-Myers Squibb: The Opdivo Fiasco” published on October 11, 2016 as well as‘s news article titled: “Why Bristol-Myers Squibb, Myriad Genetics, and Twilio Slumped Today” with publication date: October 10, 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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