E. Ohman J or Asset Management AB Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

E. Ohman J or Asset Management AB lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,512 shares of the biopharmaceutical company’s stock after selling 3,488 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Bristol-Myers Squibb were worth $1,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Foster Group Inc. bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $257,000. Vest Financial LLC grew its holdings in Bristol-Myers Squibb by 73.5% during the 1st quarter. Vest Financial LLC now owns 16,912 shares of the biopharmaceutical company’s stock worth $1,031,000 after acquiring an additional 7,166 shares in the last quarter. Charles Schwab Trust Co bought a new position in Bristol-Myers Squibb during the 1st quarter worth about $285,000. Thrive Wealth Management LLC grew its holdings in Bristol-Myers Squibb by 4.1% during the 1st quarter. Thrive Wealth Management LLC now owns 5,875 shares of the biopharmaceutical company’s stock worth $358,000 after acquiring an additional 232 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Bristol-Myers Squibb by 21.4% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,062 shares of the biopharmaceutical company’s stock worth $431,000 after acquiring an additional 1,246 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction on Friday, April 25th. The stock was bought at an average cost 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. This 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 hyperlink. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Up 1.2%

BMY stock opened at $48.42 on Friday. The firm has a 50 day moving average of $49.34 and a 200 day moving average of $55.06. The stock has a market capitalization 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. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the business earned ($4.40) EPS. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BMY shares. Jefferies Financial Group dropped their target price 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. Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.00.

About Bristol-Myers Squibb

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.