Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 422,774 shares of the biopharmaceutical company’s stock after selling 13,227 shares during the period. Bristol-Myers Squibb accounts for about 0.8% of Grimes & Company Inc.’s holdings, making the stock its 26th biggest position. Grimes & Company Inc.’s holdings in Bristol-Myers Squibb were worth $25,785,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $26,000. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $28,000. Transce3nd LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $28,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of Bristol-Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. 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 research report on Tuesday, April 8th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Finally, Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.00.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $48.65 on Tuesday. 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 50-day moving average of $48.62 and a two-hundred day moving average of $54.63. The stock has a market cap of $99.01 billion, a P/E ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($4.40) EPS. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

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.