Park Avenue Securities LLC Acquires 9,973 Shares of Bristol-Myers Squibb (NYSE:BMY)

Park Avenue Securities LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 17.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,779 shares of the biopharmaceutical company’s stock after acquiring an additional 9,973 shares during the quarter. Park Avenue Securities LLC’s holdings in Bristol-Myers Squibb were worth $4,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the period. Capital International Investors grew its position in Bristol-Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after buying an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC increased its stake in Bristol-Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares during the period. Norges Bank acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its position in shares of 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 during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $49.01 on Tuesday. The business’s 50-day simple moving average is $49.12 and its 200 day simple moving average is $54.95. 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 stock has a market cap of $99.74 billion, a price-to-earnings ratio of -11.09, a P/E/G ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued 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. 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 for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter last year, the firm earned ($4.40) EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research 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 research note on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $58.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 4,250 shares of Bristol-Myers Squibb stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

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.