Bristol-Myers Squibb (NYSE:BMY) Stake Lessened by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,521 shares of the biopharmaceutical company’s stock after selling 1,524 shares during the period. Miracle Mile Advisors LLC’s holdings in Bristol-Myers Squibb were worth $6,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Bristol-Myers Squibb by 6.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,303 shares of the biopharmaceutical company’s stock valued at $323,000 after acquiring an additional 328 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Bristol-Myers Squibb by 8.3% in the first quarter. Wedmont Private Capital now owns 11,362 shares of the biopharmaceutical company’s stock valued at $693,000 after acquiring an additional 875 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Bristol-Myers Squibb by 52.6% in the first quarter. UMB Bank n.a. now owns 313,433 shares of the biopharmaceutical company’s stock valued at $19,116,000 after acquiring an additional 107,976 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Bristol-Myers Squibb by 9.3% during the first quarter. Sivia Capital Partners LLC now owns 4,691 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 399 shares in the last quarter. Finally, First City Capital Management Inc. boosted its holdings in Bristol-Myers Squibb by 1.2% during the first quarter. First City Capital Management Inc. now owns 21,427 shares of the biopharmaceutical company’s stock worth $1,307,000 after buying an additional 263 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The stock was bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price for the company. Jefferies Financial Group reduced their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. UBS Group reduced their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol-Myers Squibb Stock Up 1.2%

BMY stock opened at $48.42 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market cap of $98.54 billion, a price-to-earnings ratio of -10.95, a PEG ratio of 2.07 and a beta of 0.38. The company has a 50 day moving average of $49.34 and a two-hundred day moving average of $55.04.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $10.77 billion. During the same quarter in the prior year, the firm earned ($4.40) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

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.