Bristol-Myers Squibb Company (BMY): Technicals Say You should Hold

Bristol-Myers Squibb Company (NYSE:BMY) saw a downside of -2.97% to close Friday at $57.26 after subtracting -$1.75 on the day. The 5-day average trading volume is 14,853,540 shares of the company’s common stock. It has gained $60.03 in the past week. An average of 11,940,760 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,371,164.

BMY’s 1-month performance is -9.94% or -$7.66 on its low of $56.81 reached on 10/08/21. The company’s shares have touched a 52-week low of $56.75 and high of $69.75, with the stock’s rally to the 52-week high happening on 08/23/21. YTD, BMY has lost -7.69% or -$4.77. However, the current price is down -17.91%% from the 52-week high price.

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Insider Transactions

On Sep 20, 21 days have gone by since the last insider trading activity for Bristol-Myers Squibb Company (BMY). Caforio Giovanni (Board Chair and CEO) most recently sold 25,000 shares at $60.64 per share on Sep 20. This transaction cost the insider $1,516,000. EVP, Chief Financial Officer, Elkins David V, sold 99,691 shares at a price of $66.95 on Aug 12. Then, on Aug 03, EVP, Chief Human Resources Powell Ann sold 23,280 shares at a price of $68.57 per share. This transaction amounted to $1,596,310.

Valuation Metrics

Bristol-Myers Squibb Company (BMY) has a trailing price-to-earnings (P/E) ratio of 23.00 for the broader industry and 31.93 for the sector. The company’s PE ratio for the last five years has touched a high of 259.38 and a low of 11.26. BMY stock has a beta of 0.61. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.95 while the price-to-book (PB) in the most recent quarter is 3.46, with the price to cash flow ratio at 17.62.

Bristol-Myers Squibb Company pays an annual dividend of $1.96 per share. Its dividend yield is 3.42%. BMY paid $0.49 a share compared with prior rate of $0.49, down 0.0% from last year’s. The company has boosted its dividend for the last 12 consecutive years with the latest dividend increase of $0.04 reported on Thursday December 10 2020. Measured over the last 3 years, the Dividend has been growing by 46.79% yearly.

It is projected that Bristol-Myers Squibb Company’s next ex-dividend date will be on 3-Jan. BMY is expected to distribute $0.49 as its next dividend.

Bristol-Myers Squibb Company’s quick ratio for the period ended June 29 was 1.40, with the current ratio over the same period at 1.50 meaning that BMY stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.15, while the total debt to equity was 1.23. In terms of profitability, the gross margin trailing 12 months is 78.00%. The trailing 12-month EBITDA margin is 35.23% while for the period ending June 29; Bristol-Myers Squibb Company’s operating margin was -15.70%. The firm’s gross profit as reported stood at $30.75 billion against revenue of $42.52 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Bristol-Myers Squibb Company’s cash and short-term investments amounted to $1.95 billion against total debt of $46.29 billion. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected BMY to announce $1.89 per share in earnings in its latest quarter, but it posted $1.93, representing a 2.10% surprise. EBITDA for the quarter stood at more than $4.26 billion. BMY stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 73.92 billion, with total debt at $46.29 billion. Shareholders hold equity totaling $2.22 billion

Technical Picture

Let’s look briefly at Bristol-Myers Squibb Company (BMY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 18.83% to suggest the stock is trending oversold, with historical volatility in this time period at 20.76%.

The stock’s 5-day moving average is $58.71, reflecting a -3.78% or -$2.25 change from its current price. BMY is currently trading -9.30% above its 20-day SMA, -12.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -15.98% and -6.79% respectively.

Stochastic %K and %D was 17.42% and 16.91% and the average true range (ATR) pointed at 1.13. The RSI (14) points at 21.64%, while the 14-day stochastic is at 10.04% with the period’s ATR at 1.09. The stock’s 9-day MACD Oscillator is pointing at -0.70 and -1.07 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for BMY stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate BMY as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 11 have offered a “buy” rating.

What is BMY’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $66.00 and a high of $89.00, with their median price target at $74.55. Looking at these predictions, the average price target given by analysts is for Bristol-Myers Squibb Company (BMY) stock is $75.57.


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