Hennion & Walsh Asset Management Inc. Has $1.06 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 26.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,370 shares of the biopharmaceutical company’s stock after selling 6,328 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,059,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wealthspire Advisors LLC grew its holdings in Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after acquiring an additional 170 shares during the period. Edmp Inc. grew its stake in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares during the period. Bedel Financial Consulting Inc. grew its stake in shares of Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares during the period. King Wealth Management Group grew its stake in shares of Bristol-Myers Squibb by 2.6% in the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock valued at $413,000 after buying an additional 182 shares during the period. Finally, Signet Investment Advisory Group Inc. grew its stake in shares of Bristol-Myers Squibb by 2.3% in the 4th quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company’s stock valued at $467,000 after buying an additional 189 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $48.42 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company’s 50 day moving average price is $49.34 and its two-hundred day moving average price is $55.06. 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 stock has a market cap of $98.54 billion, a P/E ratio of -10.95, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter last year, the firm earned ($4.40) EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 4,250 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price for the company. UBS Group reduced their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.00.

About Bristol-Myers Squibb

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.