Alhambra Investment Management LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Alhambra Investment Management LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,948 shares of the biopharmaceutical company’s stock after selling 281 shares during the period. Alhambra Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $424,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealthspire Advisors LLC increased its position in Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after buying an additional 170 shares during the last quarter. Edmp Inc. boosted its position in shares of Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after acquiring an additional 171 shares during the last quarter. Bedel Financial Consulting Inc. boosted its position in shares of Bristol-Myers Squibb by 3.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 175 shares during the last quarter. King Wealth Management Group boosted its position in shares of Bristol-Myers Squibb by 2.6% during the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock valued at $413,000 after acquiring an additional 182 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. lifted its position in Bristol-Myers Squibb by 2.3% in the 4th quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company’s stock worth $467,000 after buying an additional 189 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Trading Up 1.9%

Shares of NYSE:BMY opened at $49.96 on Wednesday. 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 $48.97 and its 200-day moving average price is $54.92. 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 $101.66 billion, a P/E ratio of -11.30, a PEG ratio of 2.07 and a beta of 0.38.

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

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Argus raised Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Finally, Jefferies Financial Group cut their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

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.