Salem Investment Counselors Inc. Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Salem Investment Counselors Inc. lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,638 shares of the biopharmaceutical company’s stock after selling 570 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $1,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Everhart Financial Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 21.0% during the 1st quarter. Everhart Financial Group Inc. now owns 9,156 shares of the biopharmaceutical company’s stock worth $558,000 after acquiring an additional 1,591 shares during the last quarter. Sky Investment Group LLC boosted its stake in shares of Bristol-Myers Squibb by 7.6% during the 1st quarter. Sky Investment Group LLC now owns 21,328 shares of the biopharmaceutical company’s stock worth $1,301,000 after acquiring an additional 1,500 shares during the last quarter. Thomasville National Bank boosted its stake in shares of Bristol-Myers Squibb by 1.7% during the 1st quarter. Thomasville National Bank now owns 18,948 shares of the biopharmaceutical company’s stock worth $1,156,000 after acquiring an additional 325 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Bristol-Myers Squibb by 0.7% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,592,397 shares of the biopharmaceutical company’s stock worth $158,110,000 after acquiring an additional 18,876 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 1.2% during the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 33,199 shares of the biopharmaceutical company’s stock worth $2,025,000 after acquiring an additional 406 shares during the last quarter. Hedge funds and other 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 acquired 4,250 shares of the company’s stock in a transaction 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 purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BMY has been the topic of several analyst reports. UBS Group dropped their price target 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. Jefferies Financial Group dropped 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. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Stock Performance

BMY opened at $49.71 on Friday. The stock has a market capitalization of $101.15 billion, a price-to-earnings ratio of -11.25, a PEG ratio of 2.07 and a beta of 0.38. The company has a fifty day moving average of $48.71 and a 200 day moving average of $54.77. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week 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 posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Bristol-Myers Squibb’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the company posted ($4.40) earnings per share. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

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.