Bristol-Myers Squibb Co. [BMY] Stock trading around $51.66 per share: What’s Next?

Bristol-Myers Squibb Co. [NYSE: BMY] stock went on an upward path that rose over 0.64% on Friday, amounting to a one-week price increase of more than 4.49%. The company report on February 23, 2024 at 6:59 AM that Bristol Myers Squibb Announces Expiration of RayzeBio Tender Offer.

Bristol Myers Squibb (NYSE: BMY) today announced that its previously announced tender offer (the “Offer”) to acquire all of the outstanding shares of RayzeBio, Inc. (Nasdaq: RYZB) common stock for a purchase price of $62.50 per share in cash, or approximately $4.1 billion, expired at one minute after 11:59 p.m., Eastern Time, on February 22, 2024 (the “Expiration Time”).

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Equiniti Trust Company, the depositary for the Offer, has advised that, as of the Expiration Time, approximately 53,052,499 shares of RazyeBio common stock were validly tendered and not validly withdrawn pursuant to the Offer, representing approximately 86% of the issued and outstanding shares of RayzeBio common stock at the Expiration Time.

Over the last 12 months, BMY stock dropped by -27.56%. The one-year Bristol-Myers Squibb Co. stock forecast points to a potential upside of 6.78. 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 $104.47 billion, with 2.02 billion shares outstanding and 2.02 billion shares in the current float. Compared to the average trading volume of 15.44M shares, BMY stock reached a trading volume of 11050020 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. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $68 to $60. The new note on the price target was released on January 03, 2024, representing the official price target for Bristol-Myers Squibb Co. stock. Previously, the target price had yet another drop from $68 to $55, while Cantor Fitzgerald kept a Neutral rating on BMY stock.

The Average True Range (ATR) for Bristol-Myers Squibb Co. is set at 1.10, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 2.32. The Price to Book ratio for the last quarter was 3.55, 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 8.26 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 4.49. With this latest performance, BMY shares gained by 2.83% in over the last four-week period, additionally sinking by -16.08% over the last 6 months – not to mention a drop of -27.56% 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 63.88, with the RSI for the last a single of trading hit 71.98, and the three-weeks RSI is set at 58.50 for Bristol-Myers Squibb Co. [BMY]. The present Moving Average for the last 50 days of trading for this stock 50.42, while it was recorded at 50.72 for the last single week of trading, and 57.23 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%.