NBT Bank N A NY Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

NBT Bank N A NY reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 77,530 shares of the biopharmaceutical company’s stock after selling 3,194 shares during the period. NBT Bank N A NY’s holdings in Bristol-Myers Squibb were worth $4,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Vanguard Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after buying an additional 1,373,209 shares during the period. Capital International Investors increased its stake in Bristol-Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the period. Geode Capital Management LLC lifted its position in Bristol-Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after purchasing an additional 1,187,231 shares during the last quarter. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Bristol-Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BMY shares. Wall Street Zen cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price for the company. UBS Group cut their target price on shares of 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. Finally, Jefferies Financial Group decreased their price target on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Trading Down 2.2%

NYSE:BMY opened at $48.65 on Tuesday. The stock has a market cap 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 has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average price is $48.62 and its 200-day moving average price is $54.63. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same period in the previous year, the company earned ($4.40) earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

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.