Lynch & Associates IN Purchases 6,365 Shares of Bristol-Myers Squibb (NYSE:BMY)

Lynch & Associates IN boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 82.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,041 shares of the biopharmaceutical company’s stock after purchasing an additional 6,365 shares during the period. Lynch & Associates IN’s holdings in Bristol-Myers Squibb were worth $856,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings 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 purchasing an additional 60,365 shares during the last quarter. Advyzon Investment Management LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $458,000. Polar Asset Management Partners Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $16,651,000. Strategic Financial Concepts LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $4,377,000. Finally, Convergence Investment Partners LLC raised its stake in shares of Bristol-Myers Squibb by 8.2% in the fourth quarter. Convergence Investment Partners LLC now owns 90,493 shares of the biopharmaceutical company’s stock worth $5,118,000 after acquiring an additional 6,888 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMY. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. UBS Group reduced their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Two research 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. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Trading Down 2.2%

BMY opened at $48.65 on Tuesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. 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 has a market capitalization of $99.01 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.38. The company’s 50 day moving average price is $48.62 and its two-hundred day moving average price is $54.63.

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

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the 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 completion of 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 position. 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 corporate insiders.

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.