DMC Group LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,130 shares of the biopharmaceutical company’s stock after selling 340 shares during the quarter. DMC Group LLC’s holdings in Bristol-Myers Squibb were worth $648,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of BMY. True Wealth Design LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. GoalVest Advisory LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter valued at $29,000. Coppell Advisory Solutions Corp. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $31,000. Live Oak Investment Partners purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $33,000. Finally, Strengthening Families & Communities LLC increased its holdings in shares of Bristol-Myers Squibb by 90.0% in the first quarter. Strengthening Families & Communities LLC now owns 475 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 74.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on BMY shares. Morgan Stanley reiterated an “underweight” rating and set a $59.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, July 19th. HSBC initiated coverage on Bristol-Myers Squibb in a report on Friday, July 14th. They set a “reduce” rating and a $56.00 price target on the stock. Bank of America cut their price objective on shares of Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Wells Fargo & Company reduced their price objective on shares of Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. Finally, StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.67.
Bristol-Myers Squibb Stock Down 0.1 %
Shares of NYSE:BMY traded down $0.07 on Tuesday, reaching $58.51. The company had a trading volume of 3,662,744 shares, compared to its average volume of 8,971,009. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $122.23 billion, a PE ratio of 15.58, a PEG ratio of 1.57 and a beta of 0.42. Bristol-Myers Squibb has a 52-week low of $58.33 and a 52-week high of $81.43. The firm’s 50 day simple moving average is $61.62 and its 200-day simple moving average is $65.11.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 EPS. As a group, analysts expect that Bristol-Myers Squibb will post 7.44 earnings per share for the current fiscal year.
Insider Activity at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares in the company, valued at approximately $1,706,915. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the completion of the sale, the executive vice president now directly owns 6,584 shares in the company, valued at $402,545.76. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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