LS Investment Advisors LLC Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

LS Investment Advisors LLC grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,015 shares of the biopharmaceutical company’s stock after purchasing an additional 225 shares during the quarter. LS Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. Truist Financial Corp raised its stake in Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after buying an additional 60,365 shares in the last quarter. Quilter Plc grew its holdings in shares of Bristol-Myers Squibb by 56.6% during the 4th quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock worth $6,098,000 after acquiring an additional 38,977 shares during the period. Advyzon Investment Management LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $458,000. Leo Wealth LLC lifted its stake in shares of Bristol-Myers Squibb by 51.5% in the 4th quarter. Leo Wealth LLC now owns 14,965 shares of the biopharmaceutical company’s stock valued at $846,000 after purchasing an additional 5,085 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bristol-Myers Squibb by 12.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,566,160 shares of the biopharmaceutical company’s stock valued at $89,051,000 after purchasing an additional 172,439 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of Bristol-Myers Squibb stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMY. Jefferies Financial Group decreased their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price on the stock. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Trading Down 0.2%

Bristol-Myers Squibb stock opened at $48.01 on Thursday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The business’s fifty day moving average is $49.82 and its 200 day moving average is $55.19. The stock has a market capitalization of $97.70 billion, a PE ratio of -10.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period in the prior year, the firm earned ($4.40) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current 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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.