Magnus Financial Group LLC Sells 277 Shares of Bristol-Myers Squibb (NYSE:BMY)

Magnus Financial Group LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,537 shares of the biopharmaceutical company’s stock after selling 277 shares during the quarter. Magnus Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $460,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BMY. Norges Bank bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $1,989,525,000. Ameriprise Financial Inc. grew its stake in Bristol-Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after acquiring an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP grew its stake in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $257,618,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 1.2%

Shares of NYSE BMY opened at $48.42 on Friday. The company’s 50-day simple moving average is $49.34 and its 200-day simple moving average is $55.06. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The firm has a market cap of $98.54 billion, a price-to-earnings 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 (NYSE:BMY) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned ($4.40) earnings per share. Equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. UBS Group dropped their target price 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. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $58.00.

Insider Transactions at Bristol-Myers Squibb

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

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.