Bard Financial Services Inc. Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Bard Financial Services Inc. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,065 shares of the biopharmaceutical company’s stock after buying an additional 1,665 shares during the quarter. Bard Financial Services Inc.’s holdings in Bristol-Myers Squibb were worth $2,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp grew its position in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after buying an additional 60,365 shares in the last quarter. Advyzon Investment Management LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $458,000. Covenant Asset Management LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $279,000. Polar Asset Management Partners Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $16,651,000. Finally, Kentucky Trust Co bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $389,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 1.9%

BMY stock opened at $49.96 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The business’s 50 day moving average price is $48.97 and its two-hundred day moving average price is $54.92. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market capitalization of $101.66 billion, a price-to-earnings ratio of -11.30, a price-to-earnings-growth 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 earnings per share 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 the consensus estimate of $10.77 billion. During the same quarter in the prior year, the business earned ($4.40) EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Argus raised Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on 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. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, UBS Group lowered 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. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were 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 of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company 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.