Romano Brothers AND Company Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Romano Brothers AND Company reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,512 shares of the biopharmaceutical company’s stock after selling 1,397 shares during the period. Bristol-Myers Squibb accounts for approximately 1.1% of Romano Brothers AND Company’s portfolio, making the stock its 16th largest position. Romano Brothers AND Company’s holdings in Bristol-Myers Squibb were worth $7,451,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $26,000. GoalVest Advisory LLC purchased a new stake in Bristol-Myers Squibb in the first quarter worth about $29,000. Coppell Advisory Solutions Corp. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $31,000. Live Oak Investment Partners purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $33,000. Finally, First Personal Financial Services lifted its holdings in Bristol-Myers Squibb by 67.8% in the first quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 200 shares during the period. 74.98% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.11 during trading hours on Tuesday, reaching $58.47. The company had a trading volume of 3,278,887 shares, compared to its average volume of 8,969,124. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. Bristol-Myers Squibb has a 52 week low of $58.33 and a 52 week high of $81.43. The firm has a market cap of $122.15 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.57 and a beta of 0.42. The firm’s 50 day moving average price is $61.62 and its 200-day moving average price is $65.11.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. On average, analysts forecast that Bristol-Myers Squibb will post 7.44 EPS for the current year.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Robert M. Plenge sold 732 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the transaction, the executive vice president now owns 6,584 shares in the company, valued at approximately $402,545.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Robert M. Plenge sold 732 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the transaction, the executive vice president now owns 6,584 shares in the company, valued at approximately $402,545.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction 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 transaction, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Barclays decreased their target price on shares of Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $59.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 19th. HSBC initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, July 14th. They set a “reduce” rating and a $56.00 target price for the company. Finally, TD Cowen decreased their target price on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $70.67.

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.