Greystone Financial Group LLC Makes New $9.76 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Greystone Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 160,028 shares of the biopharmaceutical company’s stock, valued at approximately $9,760,000. Bristol-Myers Squibb makes up approximately 1.8% of Greystone Financial Group LLC’s holdings, making the stock its 23rd biggest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Truist Financial Corp raised 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 valued at $90,335,000 after purchasing an additional 60,365 shares during the period. Quilter Plc raised its holdings in Bristol-Myers Squibb by 56.6% during the 4th quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock valued at $6,098,000 after buying an additional 38,977 shares during the period. Advyzon Investment Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $458,000. Covenant Asset Management LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $279,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter worth $16,651,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.2%

NYSE:BMY opened at $48.42 on Monday. 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 company has a 50-day moving average of $49.34 and a 200 day moving average of $55.02. The firm has a market cap of $98.54 billion, a PE ratio of -10.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the business posted ($4.40) EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Jefferies Financial Group dropped their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their target price on 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. Finally, Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by 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.