Wendell David Associates Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Wendell David Associates Inc. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,644 shares of the biopharmaceutical company’s stock after selling 557 shares during the quarter. Wendell David Associates Inc.’s holdings in Bristol-Myers Squibb were worth $1,198,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp grew its position in shares of 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 purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $458,000. Polar Asset Management Partners Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $16,651,000. Strategic Financial Concepts LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $4,377,000. Finally, Convergence Investment Partners LLC grew its position in Bristol-Myers Squibb by 8.2% during the 4th quarter. Convergence Investment Partners LLC now owns 90,493 shares of the biopharmaceutical company’s stock worth $5,118,000 after purchasing an additional 6,888 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group decreased their price target 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. UBS Group reduced their price objective 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. 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 target price for the company. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol-Myers Squibb Trading Down 2.2%

Shares of BMY stock opened at $48.65 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm’s 50 day moving average price is $48.62 and its two-hundred day moving average price is $54.63. The stock has a market cap of $99.01 billion, a price-to-earnings ratio of -11.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38.

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, topping the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.40) earnings per share. On average, analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

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.