Goldstone Financial Group LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Goldstone Financial Group LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,486 shares of the biopharmaceutical company’s stock after selling 338 shares during the period. Goldstone Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. New England Research & Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 16.0% during the first quarter. New England Research & Management Inc. now owns 30,269 shares of the biopharmaceutical company’s stock worth $1,846,000 after purchasing an additional 4,180 shares during the period. Krilogy Financial LLC lifted its holdings in shares of Bristol-Myers Squibb by 8.5% during the first quarter. Krilogy Financial LLC now owns 10,941 shares of the biopharmaceutical company’s stock worth $667,000 after purchasing an additional 856 shares during the period. Tudor Financial Inc. lifted its holdings in shares of Bristol-Myers Squibb by 6.0% during the first quarter. Tudor Financial Inc. now owns 6,957 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 396 shares during the period. Everhart Financial Group Inc. lifted its holdings in shares of Bristol-Myers Squibb by 21.0% during the first quarter. Everhart Financial Group Inc. now owns 9,156 shares of the biopharmaceutical company’s stock worth $558,000 after purchasing an additional 1,591 shares during the period. Finally, Sky Investment Group LLC lifted its holdings in shares of Bristol-Myers Squibb by 7.6% during the first quarter. Sky Investment Group LLC now owns 21,328 shares of the biopharmaceutical company’s stock worth $1,301,000 after purchasing an additional 1,500 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In other 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, with a total value of $202,215.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BMY shares. UBS Group decreased their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $49.71 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a 50-day moving average price of $48.71 and a two-hundred day moving average price of $54.73. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a market capitalization of $101.15 billion, a P/E ratio of -11.25, a price-to-earnings-growth 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 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 firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the firm posted ($4.40) EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, 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.