A company insider recently sold 30,000 shares of Bristol-Myers Squibb Company [BMY]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bristol-Myers Squibb Company shares valued at $2,221,200 were sold by Caforio Giovanni on Jun 13. At $74.04 per share, Caforio Giovanni sold 30,000 shares. The insider’s holdings dropped to 551,104 shares worth approximately $39.75 million following the completion of this transaction.


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Also, LEUNG SANDRA sold 65,000 shares, netting a total of over 4,867,850 in proceeds. Following the sale of shares at $74.89 each, the insider now holds 308,627 shares.

Before that, Caforio Giovanni had sold 25,000 shares from its account. In a trade valued at $1,788,000, the Board Chair and CEO traded Bristol-Myers Squibb Company shares for $71.52 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $41.94 million.

As published in a research note from Raymond James on June 03, 2022, Bristol-Myers Squibb Company [BMY] has been rated down from an Outperform to a Mkt perform. As of December 17, 2021, Goldman has initiated its “Buy” rating for BMY.

Analyzing BMY’s Price Performance

On Thursday, Bristol-Myers Squibb Company [NYSE: BMY] plunged -1.19% to $72.12. The stock’s lowest price that day was $71.975, but it reached a high of $72.95 in the same session. During the last five days, there has been a drop of approximately -3.45%. Over the course of the year, Bristol-Myers Squibb Company shares have jumped approximately 15.67%. Shares of the company reached a 52-week high of $80.59 on 06/27/22 and a 52-week low of $60.86 on 01/06/22. A 50-day SMA is recorded $75.18, while a 200-day SMA reached $68.62. Nevertheless, trading volume fell to 8.59 million shares from 8.67 million shares the previous day.

Support And Resistance Levels for Bristol-Myers Squibb Company (BMY)

According to the 24-hour chart, there is a support level at 71.75, which, if violated, would cause prices to drop to 71.37. In the upper region, resistance lies at 72.72. The next price resistance is at 73.32. RSI (Relative Strength Index) is 36.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.59, which suggests the price will decrease in the coming days. Percent R is at 96.21%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Bristol-Myers Squibb Company subject to short interest?

Stocks of Bristol-Myers Squibb Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -7.13 million shares to 27.33 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 34.46 million shares. A decline of -26.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.25 of the overall float, the days-to-cover ratio (short ratio) decline to 2.25.

Which companies own the most shares of Bristol-Myers Squibb Company (BMY)?

According to The Vanguard Group, Inc. filings, the company currently owns 189,628,325 shares, which is about 8.91% of the total BMY shares outstanding. The investor’s shares have plunged by -1,033,542 from its previous 13-F filing of 190661867.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $8,086,303,225. SSgA Funds Management, Inc. reduced a -0.23% interest valued at $7.27 billion while JPMorgan Investment Management, I sold a -331,212 stake. A total of 9,222,578 shares of Bristol-Myers Squibb Company were sold by Fidelity Management & Research Co during the quarter, and -7,625,459 were sold by Wellington Management Co. LLP. In its current portfolio, Geode Capital Management LLC holds 37,561,464 shares valued at $2.89 billion.

In terms of Bristol-Myers Squibb Company share price expectations, FactSet research, analysts set an average price target of $81.11 in the next 12 months, up nearly 13.71% from the previous closing price of $72.99. Analysts anticipate Bristol-Myers Squibb Company stock to reach $92.00 by 2022, with the lowest price target being $61.00. In spite of this, 22 analysts ranked Bristol-Myers Squibb Company stock as an Overweight at the end of 2022. On November 19, 2021, BMO Capital Markets assigned a price target of “an Outperform” to the stock and initiated coverage with a $72.

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