First Affirmative Financial Network Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

First Affirmative Financial Network lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 30.4% during the first quarter, HoldingsChannel.com reports. The fund owned 3,399 shares of the biopharmaceutical company’s stock after selling 1,485 shares during the quarter. First Affirmative Financial Network’s holdings in Bristol-Myers Squibb were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Transce3nd LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of Bristol-Myers Squibb by 137.5% during the 1st 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. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday. Jefferies Financial Group lowered their price objective on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Finally, Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.00.

Bristol-Myers Squibb Trading Up 1.2%

Bristol-Myers Squibb stock opened at $48.42 on Friday. The stock has a market cap of $98.54 billion, a P/E ratio of -10.95, a PEG ratio of 2.07 and a beta of 0.38. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm’s 50 day moving average price is $49.34 and its 200-day moving average price is $55.04.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted ($4.40) earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Samit Hirawat acquired 4,250 shares of Bristol-Myers Squibb stock in a transaction dated 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 transaction, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.