Bristol Myers Squibb CEO, Chris Boerner, has made a significant purchase of the company’s shares as their value continues to decline. On November 28, Boerner bought 3,071 shares for a total of $150,000, with an average price of $48.86 per share. This recent transaction brings his total ownership in a personal account to 79,384 shares.
The stock of Bristol Myers has experienced a significant decrease in value, having dropped about a third throughout this year. Despite this decline, Boerner remains confident in the company’s potential.
Boerner has not commented on his recent purchase, which appears to be his first on the open market since being appointed as an executive vice president in August 2018. He took on the role of CEO on November 1 and is set to become the chairman on April 1, 2024.
It’s worth noting that the majority of Boerner’s stockholdings have been acquired through stock awards granted for his services to the company. This recent purchase follows another insider buy by Bristol Myers director, Theodore R. Samuels. On November 20, Samuels acquired 8,500 shares for $423,400, with an average price of $49.81 per share.
Inside Scoop: Insight into Stock Transactions
Inside Scoop provides regular coverage of stock transactions made by corporate executives, board members, prominent figures, and large shareholders. These individuals, known as insiders, are required to disclose their stock trades with regulatory groups such as the Securities and Exchange Commission.
