From MarketBeat:

Oppenheimer & Co. Inc. sold 10.6% of its stake in Bristol-Myers Squibb during the third quarter, reducing its holdings to 207,584 shares valued at $12,048,000. Other institutional investors also made moves, including Northwest Capital Management Inc and Blue Bell Private Wealth Management LLC. CEO Christopher S. Boerner acquired 13,571 shares worth $672,994 in the past quarter, raising insider ownership to 0.09%.

Bristol-Myers Squibb faced downgrades from multiple analysts, with Morgan Stanley, HSBC, and Cantor Fitzgerald all lowering their price targets and ratings while others, including Bank of America and Barclays, also adjusted their ratings. BMY’s average rating on MarketBeat.com is “Hold,” with a target price of $62.41. The company’s stock decreased by 1.0% on Thursday, dropping to $48.37.

The 50-day simple moving average for Bristol-Myers Squibb is $50.59, with a two-hundred day simple moving average of $55.43. The company’s market capitalization sits at $98.42 billion, with a PE ratio of 12.40. A recent stock buyback program was announced, allowing the repurchase of $3.00 billion in outstanding shares. Additionally, a dividend increase was declared, bumping the quarterly dividend to $0.60 per share.

Bristol-Myers Squibb develops and sells a range of biopharmaceutical products worldwide, focusing on treatments for diseases such as cancer, cardiovascular issues, and neurological disorders. Key products in its lineup include Eliquis for stroke risk reduction, Opdivo for cancer, and Orencia for rheumatoid arthritis. The company has a strong portfolio of biopharmaceutical offerings targeting a variety of diseases.



Read more: Oppenheimer & Co. Inc. Has $12.05 Million Position in Bristol-Myers Squibb (NYSE:BMY)