Meridian Financial Partners LLC Invests $211,000 in Bristol-Myers Squibb (NYSE:BMY)

Meridian Financial Partners LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the first quarter, Holdings Channel reports. The fund bought 3,465 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealthspire Advisors LLC grew its holdings in Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after acquiring an additional 170 shares during the period. Edmp Inc. lifted its position in Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 171 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 175 shares in the last quarter. King Wealth Management Group lifted its position in shares of Bristol-Myers Squibb by 2.6% during the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 182 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. lifted its position in shares of Bristol-Myers Squibb by 2.3% during the 4th quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company’s stock worth $467,000 after buying an additional 189 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $48.42 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company’s 50-day moving average is $49.34 and its 200 day moving average is $55.04. The stock has a market capitalization of $98.54 billion, a P/E ratio of -10.95, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.40) earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. UBS Group cut their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Piper Sandler began 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 for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.00.

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 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.