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Christopher Boerner, the Chief Executive Officer of Bristol Myers Squibb Co (NYSE:BMY), recently purchased 2,000 shares of the company’s common stock. The transaction, which took place on February 20, 2025, was executed at a price of $55.048 per share, totaling approximately $110,096. The purchase comes as BMY trades near $55.83, with the stock showing relatively low price volatility according to InvestingPro analysis.
Following this acquisition, Boerner now directly owns 104,626 shares of Bristol Myers Squibb. The purchase reflects Boerner’s ongoing commitment to the pharmaceutical giant, which continues to be a significant player in the life sciences sector. With a market capitalization of $113 billion, BMY maintains a strong 4.4% dividend yield and has maintained dividend payments for 55 consecutive years. InvestingPro analysis suggests the stock is currently undervalued, with analysts setting price targets up to $70. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription.
In other recent news, Bristol Myers Squibb has reported a strong performance in its fourth quarter of 2024, surpassing analyst expectations with an earnings per share of $1.67, compared to the forecasted $1.47, and revenue reaching $12.34 billion, exceeding the anticipated $11.54 billion. Despite this positive earnings report, the company faced a setback in its RELATIVITY-098 trial for Opdualag, which did not meet its primary endpoint for recurrence-free survival in melanoma patients. Meanwhile, Breyanzi showed promise in a Phase 2 trial for marginal zone lymphoma, achieving significant response rates. In another development, Bristol Myers Squibb’s Opdivo demonstrated a survival benefit in a lung cancer study, marking it as a significant treatment option for non-small cell lung cancer. On the analyst front, Goldman Sachs raised its price target for Bristol Myers Squibb to $67, maintaining a Buy rating, following the company’s solid quarterly performance. The company also announced plans for further cost reductions, with $1 billion in savings expected in 2025 and an additional $1 billion by 2027. Bristol Myers Squibb continues to focus on its growth portfolio, with promising developments in drugs like Camzyos, Reblozyl, and Breyanzi.
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