BlackRock Fund Advisors recently announced the acquisition of new stake in Bristol-Myers Squibb Co. (NYSE:BMY). The institutional investor has increased its shareholding in the Healthcare company by 0.27% to 110.79 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 5.45% valued currently at $5.47 billion. In addition, Capital Research & Management Co raised its holdings by 0.12 million to 69.42 million shares. And Geode Capital Management LLC has lifted its position by 1.71% or 0.67 million shares – to 39.7 million shares.
With over 19.7 million Bristol-Myers Squibb Co. (BMY) shares trading Friday and a closing price of $52.29 on the day, the dollar volume was approximately $1.03 billion. The shares have shown a negative half year performance of -19.29% and its price on 12/22/23 gained nearly 2.01%. Currently, there are 2.10B common shares owned by the public and among those 2.03B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for BMY have a consensus price objective of $61.72. The analysts have set the share’s price value over the next 12 months at a high of $85.00 and a low of $42.00. The average price target is 15.28% above its recent price level and a downside to the estimated low will see the stock lose -24.5% over that period. But an upside of 38.48% will see the stock hit the forecast high price target while median target price for the stock is $60.00.
Insiders at the company have transacted a total of 140 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 86 of these insider trades were purchases, accounting for 710,591 shares. Insider sales of the common stock occurred on 54 occasions, with total insider shares sold totaling 675,313 shares.
The top 3 mutual fund holders in Bristol-Myers Squibb Co. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market ETF owns 65.49 million shares of the company’s stock, all valued at over $3.23 billion. The company bought an additional 93426.0 shares recently to bring their total holdings to about 3.22% of the shares outstanding. Vanguard 500 Index Fund bought 0.24 million shares to see its total holdings expand to 50.45 million shares valued at over $2.49 billion and representing 2.48% of the shares outstanding. Government Pension Fund – Global bought 3.37 million shares to bring its total holdings to over 25.53 million shares at a value of $1.26 billion. Government Pension Fund – Global now owns shares totaling to 1.25% of the shares outstanding.
Shares of Bristol-Myers Squibb Co. (NYSE: BMY) opened at $50.86, down -$0.4 from a prior closing price of $51.26. However, the script later moved the day high at 53.48, up 2.01%. The company’s stock has a 5-day price change of 2.75% and -11.61% over the past three months. BMY shares are trading -27.32% year to date (YTD), with the 12-month market performance down to -28.69% lower. It has a 12-month low price of $48.25 and touched a high of $75.18 over the same period. BMY has an average intraday trading volume of 13.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.76%, 0.75%, and -14.36% respectively.
Institutional ownership of Bristol-Myers Squibb Co. (NYSE: BMY) shares accounts for 78.76% of the company’s 2.10B shares outstanding. Mutual fund holders own 34.30%, while other institutional holders and individual stakeholders account for 45.05% and 0.37% respectively.
It has a market capitalization of $106.40B and a beta (3y monthly) value of 0.34. The stock’s trailing 12-month PE ratio is 13.26, while the earnings-per-share (ttm) stands at $3.94. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.39% over the week and 2.02% over the month.
Analysts forecast that Bristol-Myers Squibb Co. (BMY) will achieve an EPS of $1.78 for the current quarter, $2 for the next quarter and $7.29 for 2024. The lowest estimate earnings-per-share for the quarter is $1.71 while analysts give the company a high EPS estimate of $1.84. Comparatively, EPS for the current quarter was $1.82 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.17%, and -2.75% over the next financial year. EPS should shrink at an annualized rate of -0.25% over the next five years, compared to 37.06% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate Bristol-Myers Squibb Co. (BMY) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 17 of the 26 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the BMY, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Neutral rating for the stock in a research note on November 15, 2023, with the firm’s price target at $68-$55.
