Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Wendell David Associates Inc.

Wendell David Associates Inc. lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,644 shares of the biopharmaceutical company’s stock after selling 557 shares during the period. Wendell David Associates Inc.’s holdings in Bristol-Myers Squibb were worth $1,198,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb during the fourth quarter worth $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth $28,000. Finally, Global Wealth Strategies & Associates raised its stake in Bristol-Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 275 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the business’s stock in a transaction on 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 acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMY. UBS Group cut their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Piper Sandler started coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. 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 report on Tuesday, April 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Finally, Argus raised Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $48.65 on Tuesday. 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 firm’s 50 day moving average is $48.62 and its 200-day moving average is $54.63. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock has a market capitalization of $99.01 billion, a P/E ratio of -11.01, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.40) earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

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.