Pallas Capital Advisors LLC Sells 1,101 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pallas Capital Advisors LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,237 shares of the biopharmaceutical company’s stock after selling 1,101 shares during the period. Pallas Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinney & Scofield Inc. purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $26,000. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $28,000. Transce3nd LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $28,000. Finally, Global Wealth Strategies & Associates increased its holdings in Bristol-Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction 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 transaction, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 1.2%

Shares of BMY stock opened at $49.01 on Tuesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The stock’s fifty day moving average price is $49.12 and its 200 day moving average price is $54.95. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market cap of $99.74 billion, a price-to-earnings ratio of -11.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the business earned ($4.40) EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Jefferies Financial Group reduced their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group restated 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. Piper Sandler assumed coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Finally, Wall Street Zen downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.