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Samit Hirawat, the Executive Vice President and Chief Medical (TASE:BLWV) Officer for Drug Development at Bristol Myers Squibb Co. (NYSE:BMY), recently acquired shares in the company. According to a recent SEC filing, Hirawat purchased 1,823 shares of common stock at a price of $54.84 per share on February 14, 2025. This transaction amounted to a total value of $99,999. Following this acquisition, Hirawat’s direct ownership in the company increased to 63,932 shares.The insider purchase comes as BMY, currently valued at $111.3 billion, trades with notably low price volatility and offers a 4.5% dividend yield. According to InvestingPro analysis, the stock shows a strong free cash flow yield and has maintained dividend payments for 55 consecutive years. InvestingPro subscribers can access 8 additional key insights about BMY’s valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, Bristol Myers Squibb reported its fourth-quarter 2024 earnings, surpassing analyst expectations with earnings per share of $1.67 and revenue of $12.34 billion, exceeding the anticipated $11.54 billion. The company’s growth portfolio, including drugs like Camzyos, Reblozyl, and Breyanzi, contributed significantly to this performance, showing a 23% sales increase. Despite these positive results, the company faced a setback as its Phase 3 RELATIVITY-098 trial for Opdualag in melanoma did not meet its primary endpoint. In addition, Bristol Myers Squibb shared promising results from the Phase 2 TRANSCEND FL trial for Breyanzi, which met its primary endpoint in treating marginal zone lymphoma. Goldman Sachs maintained a Buy rating on the company and raised its price target from $65 to $67, highlighting the potential of new drugs and cost-saving measures. Meanwhile, Bristol Myers Squibb announced that its Opdivo therapy showed a significant survival benefit in a lung cancer study, marking a milestone in immuno-oncology treatment. The company continues to focus on its growth strategy, aiming for $1 billion in savings by 2025 and another $1 billion by 2027.
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