Bristol-Myers Squibb (NYSE:BMY) Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 75.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,110 shares of the biopharmaceutical company’s stock after selling 9,320 shares during the quarter. FNY Investment Advisers LLC’s holdings in Bristol-Myers Squibb were worth $189,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp increased its stake in Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares during the period. Advyzon Investment Management LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $458,000. Polar Asset Management Partners Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $16,651,000. Strategic Financial Concepts LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $4,377,000. Finally, Convergence Investment Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 8.2% during the fourth quarter. Convergence Investment Partners LLC now owns 90,493 shares of the biopharmaceutical company’s stock valued at $5,118,000 after buying an additional 6,888 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 2.2%

BMY opened at $48.65 on Tuesday. The business has a 50 day moving average of $48.62 and a 200-day moving average of $54.63. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $99.01 billion, a price-to-earnings ratio of -11.01, a P/E/G 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results 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 business had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.40) EPS. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BMY. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Jefferies Financial Group dropped their price objective 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 reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target 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.