Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,935 shares of the biopharmaceutical company’s stock after selling 3,584 shares during the quarter. Bristol-Myers Squibb comprises 1.5% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 24th biggest position. Foundation Resource Management Inc.’s holdings in Bristol-Myers Squibb were worth $9,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truist Financial Corp boosted its holdings in Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Quilter Plc lifted its holdings in shares of Bristol-Myers Squibb by 56.6% in 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 last quarter. Advyzon Investment Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $458,000. Covenant Asset Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $279,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $16,651,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 1.2%

BMY stock opened at $48.42 on Monday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The stock has a market capitalization of $98.54 billion, a PE ratio of -10.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a fifty day moving average of $49.34 and a 200-day moving average of $55.02.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter last year, the business earned ($4.40) EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, Jefferies Financial Group dropped their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.00.

Insider Activity

In related news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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.