Bristol-Myers Squibb Co. [BMY] Stock trading around $49.86 per share: What’s Next?

Bristol-Myers Squibb Co. [NYSE: BMY] stock went on an upward path that rose over 0.85% on Friday, amounting to a one-week price increase of more than 0.10%. The company report on February 14, 2024 at 7:57 PM that Bristol Myers Squibb Prices $13 Billion of Senior Unsecured Notes.

Bristol Myers Squibb (NYSE: BMY) today announced that it has priced a public offering (the “Offering”) of senior unsecured notes in a combined aggregate principal amount of $13 billion (collectively, the “Notes”). The Notes will be issued in nine tranches: (i) $500,000,000 in aggregate principal amount of floating rate notes due 2026, (ii) $1,000,000,000 in aggregate principal amount of 4.950% notes due 2026, (iii) $1,000,000,000 in aggregate principal amount of 4.900% notes due 2027, (iv) $1,750,000,000 in aggregate principal amount of 4.900% notes due 2029, (v) $1,250,000,000 in aggregate principal amount of 5.100% notes due 2031, (vi) $2,500,000,000 in aggregate principal amount of 5.200% notes due 2034 (the “2034 Notes”), (vii) $500,000,000 in aggregate principal amount of 5.500% notes due 2044 (the “2044 Notes”), (viii) $2,750,000,000 in aggregate principal amount of 5.550% notes due 2054 (the “2054 Notes”) and (ix) $1,750,000,000 in aggregate principal amount of 5.650% notes due 2064 (the “2064 Notes”). Bristol Myers Squibb expects that the closing of the Offering will occur on February 22, 2024, subject to the satisfaction of customary closing conditions.

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Bristol Myers Squibb intends to use a portion of the net proceeds of the Offering to fund the cash consideration payable in connection with the previously announced proposed acquisitions of Karuna Therapeutics, Inc. (“Karuna”) and RayzeBio, Inc. (collectively, the “Acquisitions”) and the fees and expenses in connection therewith and with the Offering. Bristol Myers Squibb expects to use any remaining net proceeds from the Offering for general corporate purposes. The Offering is not conditioned upon the consummation of the Acquisitions; however, if Bristol Myers Squibb’s acquisition of Karuna is not completed on or before the later of (i) June 30, 2025 and (ii) the date that is five business days after any later date to which the “End Date” as set forth in the merger agreement relating to acquisition of Karuna may be extended pursuant to its terms, or Bristol Myers Squibb notifies the trustee in respect of the Notes that it will not pursue consummation of the acquisition of Karuna, then Bristol Myers Squibb will be required to redeem all outstanding Notes, other than the 2034 Notes, the 2044 Notes, the 2054 Notes and the 2064 Notes, at a special mandatory redemption price equal to 101% of the aggregate principal amount of such series of Notes, plus accrued and unpaid interest, if any, to, but excluding, the special mandatory redemption date.

Over the last 12 months, BMY stock dropped by -30.24%. The one-year Bristol-Myers Squibb Co. stock forecast points to a potential upside of 10.03. The average equity rating for BMY stock is currently 2.71, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $100.83 billion, with 2.02 billion shares outstanding and 2.02 billion shares in the current float. Compared to the average trading volume of 15.68M shares, BMY stock reached a trading volume of 13172275 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMY shares is $55.42 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 2.71. 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.

Redburn Atlantic have made an estimate for Bristol-Myers Squibb Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 06, 2024.

The Average True Range (ATR) for Bristol-Myers Squibb Co. is set at 1.09, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 3.42, with the Price to Cash per share for the same quarter was set at 6.10. Price to Free Cash Flow for BMY in the course of the last twelve months was 7.97 with Quick ratio for the last quarter at 1.31.

BMY Stock Performance Analysis:

Bristol-Myers Squibb Co. [BMY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.10. With this latest performance, BMY shares dropped by -0.46% in over the last four-week period, additionally sinking by -19.77% over the last 6 months – not to mention a drop of -30.24% 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 51.88, with the RSI for the last a single of trading hit 56.15, and the three-weeks RSI is set at 49.41 for Bristol-Myers Squibb Co. [BMY]. The present Moving Average for the last 50 days of trading for this stock 50.38, while it was recorded at 49.33 for the last single week of trading, and 57.57 for the last 200 days.

Insight into Bristol-Myers Squibb Co. Fundamentals:

Bristol-Myers Squibb Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.31 and a Current Ratio set at 1.43.

BMY Stock EPS

With the latest financial reports released by the company, Bristol-Myers Squibb Co. posted 2.05/share EPS, while the average EPS was predicted by analysts to be reported at 1.97/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.10%. 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 Co. go to -3.40%.

Bristol-Myers Squibb Co. [BMY] Institutonal Ownership Details

The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BMY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BMY stock with ownership which is approximately 5.8325%.