First City Capital Management Inc. Buys 263 Shares of Bristol-Myers Squibb (NYSE:BMY)

First City Capital Management Inc. boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 21,427 shares of the biopharmaceutical company’s stock after buying an additional 263 shares during the period. First City Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,307,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Bristol-Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after buying an additional 1,373,209 shares during the period. Capital International Investors boosted its stake in Bristol-Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after buying an additional 3,218,865 shares during the period. Geode Capital Management LLC boosted its stake in Bristol-Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after buying an additional 1,187,231 shares during the period. Norges Bank bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $1,989,525,000. Finally, Ameriprise Financial Inc. boosted its stake in Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after buying an additional 12,011,983 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb 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 acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BMY shares. Jefferies Financial Group dropped their price objective 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. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Wall Street Zen downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday. Argus upgraded Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, Piper Sandler started coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol-Myers Squibb Stock Up 1.2%

BMY opened at $48.42 on Friday. The company 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. The business’s 50-day moving average price is $49.34 and its 200-day moving average price is $55.06. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the previous year, the business earned ($4.40) EPS. Bristol-Myers Squibb’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts expect 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.