Relyea Zuckerberg Hanson LLC Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Relyea Zuckerberg Hanson LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,301 shares of the biopharmaceutical company’s stock after selling 396 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Bristol-Myers Squibb were worth $323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pinney & Scofield Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $26,000. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $28,000. Transce3nd LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $28,000. Finally, Global Wealth Strategies & Associates boosted its holdings in Bristol-Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $49.71 on Friday. The stock has a market capitalization of $101.15 billion, a PE ratio of -11.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The stock’s 50-day moving average price is $48.71 and its 200 day moving average price is $54.77. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

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

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on BMY shares. Jefferies Financial Group decreased 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. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Wall Street Zen downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $58.00.

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.