RTD Financial Advisors Inc. Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

RTD Financial Advisors Inc. trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 18.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 21,258 shares of the biopharmaceutical company’s stock after selling 4,894 shares during the period. RTD Financial Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,297,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $26,000. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $28,000. Transce3nd LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $28,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of Bristol-Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $49.71 on Friday. The stock’s 50-day moving average is $48.71 and its two-hundred day moving average is $54.77. The firm has a market cap of $101.15 billion, a price-to-earnings ratio of -11.25, a PEG ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last issued 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 for the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted ($4.40) earnings per share. Analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wall Street Zen cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their price objective on 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. Finally, Piper Sandler initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Two investment 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 company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $58.00.

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.