Abacus FCF Advisors LLC Has $17.78 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Abacus FCF Advisors LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 43.3% in the 1st quarter, Holdings Channel reports. The fund owned 291,499 shares of the biopharmaceutical company’s stock after acquiring an additional 88,141 shares during the quarter. Bristol-Myers Squibb accounts for 2.8% of Abacus FCF Advisors LLC’s holdings, making the stock its 7th biggest holding. Abacus FCF Advisors LLC’s holdings in Bristol-Myers Squibb were worth $17,779,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BMY. Truist Financial Corp increased its position in Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares in the last quarter. Quilter Plc increased its position in Bristol-Myers Squibb by 56.6% during the 4th quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock valued at $6,098,000 after buying an additional 38,977 shares in the last quarter. Advyzon Investment Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $458,000. Covenant Asset Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $279,000. Finally, Polar Asset Management Partners Inc. bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $16,651,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $49.01 on Tuesday. The company has a market capitalization of $99.74 billion, a PE ratio of -11.09, 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 business’s fifty day moving average is $49.12 and its 200 day moving average is $54.95. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its 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. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Bristol-Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.40) earnings per share. Sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMY. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday. Jefferies Financial Group reduced their target price 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. UBS Group reduced their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were 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 directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

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.