Capital Advisors Wealth Management LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 26.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,219 shares of the biopharmaceutical company’s stock after selling 1,174 shares during the period. Capital Advisors Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $206,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of BMY. Dakota Wealth Management bought a new position in Bristol-Myers Squibb in the 1st quarter valued at about $332,000. Covestor Ltd grew its stake in shares of Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,082 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares during the last quarter. Ergoteles LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp boosted its holdings in Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after purchasing an additional 68,018 shares during the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on BMY. Morgan Stanley restated an “underweight” rating and issued a $59.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 19th. Credit Suisse Group dropped their target price on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a research note on Wednesday, July 12th. SVB Leerink reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, July 10th. SVB Securities began coverage on shares of Bristol-Myers Squibb in a research note on Monday, July 10th. They issued a “market perform” rating and a $66.00 target price for the company. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.67.
In related news, EVP Robert M. Plenge sold 732 shares of Bristol-Myers Squibb stock in a transaction dated Thursday, August 3rd. The stock was 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 approximately $402,545.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ann Powell sold 17,986 shares of the business’s 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 completion of the transaction, 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 filing with the SEC, which is available at this hyperlink. Also, EVP Robert M. Plenge sold 732 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the sale, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at $402,545.76. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Bristol-Myers Squibb Stock Down 0.8 %
NYSE:BMY opened at $58.58 on Tuesday. Bristol-Myers Squibb has a 1-year low of $58.33 and a 1-year high of $81.43. The company has a market capitalization of $122.38 billion, a PE ratio of 15.58, a P/E/G 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. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.39 and a quick ratio of 1.28.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 7.44 EPS for the current fiscal year.
Bristol-Myers Squibb 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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