Fortitude Family Office LLC Sells 2,869 Shares of Bristol-Myers Squibb (NYSE:BMY)

Fortitude Family Office LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 30.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,671 shares of the biopharmaceutical company’s stock after selling 2,869 shares during the period. Fortitude Family Office LLC’s holdings in Bristol-Myers Squibb were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BMY. Truist Financial Corp raised its stake in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Advyzon Investment Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $458,000. Covenant Asset Management LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $279,000. Polar Asset Management Partners Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $16,651,000. Finally, Kentucky Trust Co bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $389,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BMY. UBS Group cut their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Jefferies Financial Group reduced their target price on shares of 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. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Two research 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 company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Up 0.3%

BMY stock opened at $50.13 on Thursday. The company has a market cap of $102.01 billion, a P/E ratio of -11.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The stock’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $54.88. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the prior year, the firm posted ($4.40) EPS. Bristol-Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

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.