Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bristol-Myers Squibb Co. shares valued at $99,560 were purchased by BOERNER CHRISTOPHER S. on Dec 05 ’23. At $49.78 per share, BOERNER CHRISTOPHER S. acquired 2,000 shares. The insider’s holdings grew to 82,672 shares worth approximately $4.4 million following the completion of this transaction.
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Also, BOERNER CHRISTOPHER S. purchased 3,071 shares, netting a total of over 150,049 in proceeds. Following the buying of shares at $48.86 each, the insider now holds 79,384 shares.
Before that, Samuels Theodore R. II had added 8,500 shares to its account. In a trade valued at $423,385, the Director bought Bristol-Myers Squibb Co. shares for $49.81 each. Upon closing the transaction, the insider’s holdings increased to 8,500 shares, worth approximately $1.89 million.
As published in a research note from Societe Generale on March 11, 2024, Bristol-Myers Squibb Co. [BMY] has been rated down from a Buy to a Hold. Analysts at Redburn Atlantic downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of January 03, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for BMY. Earlier on November 15, 2023, Cantor Fitzgerald downgraded its rating. Their new recommendation was “a Neutral” for BMY stock which previously was a “an Overweight”.
Analyzing BMY Stock Performance
During the last five days, there has been a surge of approximately 2.64%. Over the course of the year, Bristol-Myers Squibb Co. shares have jumped approximately 3.78%. Shares of the company reached a 52-week high of $55.03 on 03/13/24 and a 52-week low of $47.58 on 02/06/24. A 50-day SMA is recorded $50.79, while a 200-day SMA reached $55.64. Nevertheless, trading volume fell to 12.4 million shares from 9.95 million shares the previous day.
Support And Resistance Levels for Bristol-Myers Squibb Co. (BMY)
According to the 24-hour chart, there is a support level at 52.84, which, if violated, would cause prices to drop to 52.42. In the upper region, resistance lies at 53.68. The next price resistance is at 54.10. RSI (Relative Strength Index) is 61.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 47.41%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Bristol-Myers Squibb Co. subject to short interest?
Stocks of Bristol-Myers Squibb Co. saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.56 million shares to 32.65 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 31.09 million shares. A jump of 4.78% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.24.
