Wedge Capital Management L L P NC lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 99.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,014 shares of the biopharmaceutical company’s stock after selling 511,384 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Bristol-Myers Squibb were worth $245,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth about $26,000. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $28,000. Finally, Global Wealth Strategies & Associates raised its position in Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.
Insiders Place Their Bets
In related news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction on 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 purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($4.40) earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.
Wall Street Analyst Weigh In
BMY has been the subject of several recent research reports. Jefferies Financial Group reduced their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. UBS Group lowered their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. 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 issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $58.00.
Read Our Latest Research Report on BMY
Bristol-Myers Squibb 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.
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