Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Bristol-Myers Squibb Company shares valued at $1,742,750 were sold by Caforio Giovanni on Sep 20. At $69.71 per share, Caforio Giovanni sold 25,000 shares. The insider’s holdings dropped to 476,104 shares worth approximately $33.94 million following the completion of this transaction.
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Also, Caforio Giovanni sold 50,000 shares, netting a total of over 3,592,000 in proceeds. Following the sale of shares at $71.84 each, the insider now holds 501,104 shares.
Before that, Powell Ann had sold 25,000 shares from its account. In a trade valued at $1,768,750, the EVP, Chief Human Resources traded Bristol-Myers Squibb Company shares for $70.75 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $3.6 million.
As published in a research note from Berenberg on September 14, 2022, Bristol-Myers Squibb Company [BMY] has been rated down from a Buy to a Hold and the price target has been revised to $76 from $82. This represents a 6.2% premium over Thursday’s closing price. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early June. Earlier on December 17, 2021, Goldman initiated its rating. Their recommendation was “a Buy” for BMY stock.
Analyzing BMY’s Price Performance
On Thursday, Bristol-Myers Squibb Company [NYSE: BMY] rose 2.63% to $71.29. The stock’s lowest price that day was $69.20, but it reached a high of $71.875 in the same session. During the last five days, there has been a drop of approximately -0.68%. Over the course of the year, Bristol-Myers Squibb Company shares have jumped approximately 14.34%. 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 $72.24, while a 200-day SMA reached $70.96. Nevertheless, trading volume fell to 9.99 million shares from 11.86 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 69.70, which, if violated, would cause prices to drop to 68.11. In the upper region, resistance lies at 72.38. The next price resistance is at 73.46. RSI (Relative Strength Index) is 51.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 59.72%, indicating low price movement. Stochastics %K at holding 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 Aug 30, 2022 dropping by -5.12 million shares to 22.71 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 27.83 million shares. A decline of -22.55% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.61 of the overall float, the days-to-cover ratio (short ratio) decline to 2.61.
Which companies own the most shares of Bristol-Myers Squibb Company (BMY)?
According to The Vanguard Group, Inc. filings, the company currently owns 187,936,711 shares, which is about 8.80% of the total BMY shares outstanding. The investor’s shares have plunged by -1,691,614 from its previous 13-F filing of 189628325.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $7,443,576,276. SSgA Funds Management, Inc. reduced a -1.59% interest valued at $6.26 billion while JPMorgan Investment Management, I purchased a 470,321 stake. A total of 4,938,707 shares of Bristol-Myers Squibb Company were bought by Fidelity Management & Research Co during the quarter, and 15,196,981 were bought by Capital Research & Management Co. In its current portfolio, Geode Capital Management LLC holds 38,015,832 shares valued at $2.56 billion.
In terms of Bristol-Myers Squibb Company share price expectations, FactSet research, analysts set an average price target of $81.18 in the next 12 months, up nearly 20.93% from the previous closing price of $69.46. Analysts anticipate Bristol-Myers Squibb Company stock to reach $94.00 by 2022, with the lowest price target being $61.00. In spite of this, 21 analysts ranked Bristol-Myers Squibb Company stock as an Overweight at the end of 2022. On December 09, 2021, Wells Fargo assigned a price target of “an Equal weight” to the stock and resumed coverage with a $58.