Alhambra Investment Management LLC Has $424,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Alhambra Investment Management LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,948 shares of the biopharmaceutical company’s stock after selling 281 shares during the period. Alhambra Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its holdings in Bristol-Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock valued at $3,967,000 after acquiring an additional 869 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in Bristol-Myers Squibb by 17.4% in the 1st quarter. Integrated Advisors Network LLC now owns 20,413 shares of the biopharmaceutical company’s stock valued at $1,245,000 after acquiring an additional 3,025 shares in the last quarter. Franklin Street Advisors Inc. NC raised its holdings in Bristol-Myers Squibb by 2.4% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 355,593 shares of the biopharmaceutical company’s stock valued at $21,688,000 after acquiring an additional 8,191 shares in the last quarter. Atwood & Palmer Inc. raised its holdings in Bristol-Myers Squibb by 4.3% in the 1st quarter. Atwood & Palmer Inc. now owns 12,234 shares of the biopharmaceutical company’s stock valued at $746,000 after acquiring an additional 506 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Bristol-Myers Squibb by 0.5% in the 1st quarter. Handelsbanken Fonder AB now owns 1,484,527 shares of the biopharmaceutical company’s stock valued at $90,541,000 after acquiring an additional 6,956 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Jefferies Financial Group lowered their price target 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 Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Finally, UBS Group lowered their price target 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. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.00.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction that occurred 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 purchase, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Trading Up 1.9%

NYSE BMY opened at $49.96 on Wednesday. The business’s 50-day moving average price is $48.97 and its two-hundred day moving average price is $54.92. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The firm has a market capitalization of $101.66 billion, a PE ratio of -11.30, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS 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 company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the prior year, the company earned ($4.40) EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

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.