Arvest Investments Inc. Sells 1,155 Shares of Bristol-Myers Squibb (NYSE:BMY)

Arvest Investments Inc. decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,952 shares of the biopharmaceutical company’s stock after selling 1,155 shares during the period. Arvest Investments Inc.’s holdings in Bristol-Myers Squibb were worth $1,461,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $26,000. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $28,000. Transce3nd LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $28,000. Finally, Global Wealth Strategies & Associates increased its position in shares of Bristol-Myers Squibb by 137.5% in the first 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. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Wall Street Zen cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Argus upgraded Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $58.00.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction on Friday, April 25th. The stock was acquired at an average cost 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 $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $50.13 on Thursday. The stock’s 50 day moving average is $48.87 and its 200 day moving average is $54.88. 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 firm has a market cap of $102.01 billion, a P/E ratio of -11.34, a P/E/G ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a one year low of $39.35 and a one year 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 for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during 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%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted ($4.40) earnings per share. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current 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.