Fifth Third Wealth Advisors LLC Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Fifth Third Wealth Advisors LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,173 shares of the biopharmaceutical company’s stock after selling 755 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $925,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Pinney & Scofield Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Transce3nd LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates raised its position in shares of Bristol-Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BMY shares. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. UBS Group cut 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 report on Friday, April 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, Jefferies Financial Group cut 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 report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $48.76 on Tuesday. The company has a 50 day moving average price of $50.28 and a 200-day moving average price of $55.29. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The stock has a market capitalization of $99.23 billion, a PE ratio of -11.03, a PEG ratio of 2.07 and a beta of 0.39. 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 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the prior year, the company posted ($4.40) earnings per share. Bristol-Myers Squibb’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts predict 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.