Moving averages of XLV
The Health Care Select Sector SPDR ETF (XLV) closed at $72.3 and was trading 0.8% higher than the 100-day moving average price of $71.8 and 1.25% higher than the 20-day moving average price of $71.4. On December 1, 2015, 80% of XLV’s stocks—XLV holds 56 securities in its portfolio—were traded above the 20-day moving average, 77% of the stocks were traded above the 50-day moving average, and 55% of the stocks were traded above the 100-day moving average.
The above graph reflects the different moving averages as of December 1, 2015.
Bristol Myers’s Empliciti receives FDA approval
Bristol Myers Squibb (BMY) rose by 1.9% on December 1, 2015. The stock went up on the news of the FDA’s (US Food and Drug Administration) approval for Empliciti. As per the press release, BMY along with Abbvie (ABBV) announced, “the U.S. Food and Drug Administration (or FDA) has approved Empliciti (elotuzumab) for the treatment of multiple myelomas as combination therapy with Revlimid® (lenalidomide) and dexamethasone (ERd) in patients who have received one to three prior therapies. The approval of this first and only immunostimulatory antibody for multiple myelomas is based on data from the randomized, open-label, Phase 3, ELOQUENT-2 study, which demonstrated that the ERd regimen resulted in a 30% reduction in the risk of disease progression or death compared to Rd alone.”
BMY closed at $68.3 and was trading above the 20-day, 50-day, and 100-day moving averages. BMY witnessed a high trading volume of ~5.5 million shares being traded as compared to the five-day average trading volume of ~4.5 million shares per day. The stock has a trailing-12-month price-to-earnings ratio of 64.4x. BMY’s book value stood at $9.1 per share. With its current price, the stock is trading at a price-to-book value ratio (or PBV) of 7.51x as against the funds industry average of 7.2x. BMY has a weight of ~4.2% of the XLV’s portfolio.