Grimes & Company Inc. Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Grimes & Company Inc. lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 422,774 shares of the biopharmaceutical company’s stock after selling 13,227 shares during the quarter. Bristol-Myers Squibb accounts for 0.8% of Grimes & Company Inc.’s portfolio, making the stock its 26th largest position. Grimes & Company Inc.’s holdings in Bristol-Myers Squibb were worth $25,785,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction dated Friday, April 25th. The stock was bought at an average cost 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 in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $48.65 on Tuesday. 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 has a 52-week low of $39.35 and a 52-week high of $63.33. The business’s 50-day moving average price is $48.62 and its 200 day moving average price is $54.63. The firm has a market cap 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 released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the company posted ($4.40) earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BMY shares. Piper Sandler started coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target for the company. UBS Group lowered their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reiterated 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. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

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.