Bristol-Myers Squibb Co (NYSE:BMY) price on Wednesday, November 13, fall -1.03% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $58.41.
A look at the stock’s price movement, the close in the last trading session was $59.02, moving within a range at $57.84 and $59.475. The beta value (5-Year monthly) was 0.441. Turning to its 52-week performance, $61.08 and $39.35 were the 52-week high and 52-week low respectively. Overall, BMY moved 10.71% over the past month.
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Bristol-Myers Squibb Co’s market cap currently stands at around $118.47 billion, with investors looking forward to this quarter’s earnings report slated for in December. The company has a Forward Dividend ratio of 2.40, with its dividend yield at 4.11%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 11.54B for the company’s revenue for the quarter, with a low and high estimate of 11.31B and 11.76B respectively. The average forecast suggests up to a 7.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 47.47B, representing a 12.90% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BMY is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 9 analyst(s) rate the stock as a Hold, 5 recommend BMY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BMY’s current price about 7.19% and 11.45% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 64.98, while 7-day volatility ratio is 2.39% and 2.28% in the 30-day chart. Further, Bristol-Myers Squibb Co (BMY) has a beta value of 0.45, and an average true range (ATR) of 1.68. Analysts have given the company’s stock an average 52-week price target of $66.5, forecast between a low of $41 and high of $85. Looking at the price targets, the low is 29.81% off current price level while to achieve the yearly target high, price needs to move -45.52%. Nonetheless, investors will most likely welcome a -13.85% jump to $66.5 which is the analysts’ median price.
If we refocus on Bristol-Myers Squibb Co (NYSE:BMY), historical trading data shows that trading volumes averaged 13.9 over the past 10 days and 10.95 million over the past 3 months. The company’s latest data on shares outstanding shows there are 2.03 billion shares.
The 0.08% of Bristol-Myers Squibb Co’s shares are in the hands of company insiders while institutional holders own 77.73% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 23.42 million on 2024-10-31, giving us a short ratio of 2.3. The data shows that as of 2024-10-31 short interest in Bristol-Myers Squibb Co (BMY) stood at 115.99999999999999 of shares outstanding, with shares short rising to 20.03 million registered in 2024-09-30. Current price change has pushed the stock 13.84% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BMY stock continues to rise going into the next quarter.
