Bristol-Myers Squibb Company [BMY] Stock trading around $73.78 per share: What’s Next?

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Bristol-Myers Squibb Company [NYSE: BMY] price plunged by -1.23 percent to reach at -$0.92. The company report on July 29, 2022 that Bristol Myers Squibb Provides Update on CheckMate -914 Trial Evaluating Opdivo (nivolumab) Plus Yervoy (ipilimumab) as Adjuvant Treatment of Localized Renal Cell Carcinoma.


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Bristol Myers Squibb (NYSE: BMY) today announced that Part A of the Phase 3 CheckMate -914 trial, evaluating Opdivo (nivolumab) plus Yervoy (ipilimumab) as an adjuvant treatment for patients with localized renal cell carcinoma (RCC) who have undergone full or partial removal of the kidney and who are at moderate or high risk of relapse, did not meet the primary endpoint of disease-free survival (DFS) as assessed by Blinded Independent Central Review (BICR). The safety profile was consistent with previously reported studies of the Opdivo plus Yervoy combination in solid tumors.

“Even with notable progress in the treatment of metastatic renal cell carcinoma, there are still limited treatment options available for patients with localized disease,” said Dana Walker, M.D., M.S.C.E., vice president, development program lead, genitourinary cancers, Bristol Myers Squibb. “Opdivo and Opdivo-based combinations have shown survival benefits in several earlier-stage and advanced cancers, including genitourinary tumors, and we are disappointed that the final analysis of CheckMate -914 Part A did not show this same benefit for the post-surgical treatment of patients with localized RCC. Nonetheless, we are dedicated to continuing research and advancing cancer care for all patients with RCC.”.

A sum of 13452422 shares traded at recent session while its average daily volume was at 13.15M shares. Bristol-Myers Squibb Company shares reached a high of $74.65 and dropped to a low of $73.17 until finishing in the latest session at $73.78.

The one-year BMY stock forecast points to a potential upside of 9.34. The average equity rating for BMY stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Bristol-Myers Squibb Company [BMY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMY shares is $81.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMY stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Bristol-Myers Squibb Company shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Underweight. The new note on the price target was released on April 06, 2022, representing the official price target for Bristol-Myers Squibb Company stock. Previously, the target price had yet another raise to $72, while Goldman analysts kept a Buy rating on BMY stock.

The Average True Range (ATR) for Bristol-Myers Squibb Company is set at 1.50, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 3.39. The Price to Book ratio for the last quarter was 4.83, with the Price to Cash per share for the same quarter was set at 6.13. Price to Free Cash Flow for BMY in the course of the last twelve months was 16.37 with Quick ratio for the last quarter at 1.30.

BMY Stock Performance Analysis:

Bristol-Myers Squibb Company [BMY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.14. With this latest performance, BMY shares dropped by -5.75% in over the last four-week period, additionally plugging by 15.53% over the last 6 months – not to mention a rise of 8.26% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMY stock in for the last two-week period is set at 44.85, with the RSI for the last a single of trading hit 44.87, and the three-weeks RSI is set at 45.70 for Bristol-Myers Squibb Company [BMY]. The present Moving Average for the last 50 days of trading for this stock 75.46, while it was recorded at 73.95 for the last single week of trading, and 68.31 for the last 200 days.

Insight into Bristol-Myers Squibb Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bristol-Myers Squibb Company [BMY] shares currently have an operating margin of +20.57 and a Gross Margin at +57.69. Bristol-Myers Squibb Company’s Net Margin is presently recorded at +15.08.

Return on Equity for this stock inclined to 18.96, with Return on Assets sitting at 6.14.

Bristol-Myers Squibb Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.

BMY Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BMY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bristol-Myers Squibb Company go to 4.90%.

Bristol-Myers Squibb Company [BMY] Insider Position Details

There are presently around $120,434 million, or 79.20% of BMY stock, in the hands of institutional investors. The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 198,490,084, which is approximately -0.673% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 167,240,428 shares of the stock with an approximate value of $12.34 billion in BMY stocks shares; and STATE STREET CORP, currently with $6.97 billion in BMY stock with ownership of nearly -0.227% of the company’s market capitalization.

Positions in Bristol-Myers Squibb Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,128 institutional holders increased their position in Bristol-Myers Squibb Company [NYSE:BMY] by around 118,271,894 shares. Additionally, 1,155 investors decreased positions by around 90,091,895 shares, while 344 investors held positions by with 1,423,970,818 shares. The mentioned changes placed institutional holdings at 1,632,334,607 shares, according to the latest SEC report filing. BMY stock had 179 new institutional investments in for a total of 29,789,501 shares, while 112 institutional investors sold positions of 11,272,845 shares during the same period.

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