NBT Bank N A NY Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

NBT Bank N A NY lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 77,530 shares of the biopharmaceutical company’s stock after selling 3,194 shares during the period. NBT Bank N A NY’s holdings in Bristol-Myers Squibb were worth $4,729,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC grew its position in shares of Bristol-Myers Squibb by 0.6% during 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 in the last quarter. Bedel Financial Consulting Inc. lifted its stake in Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 175 shares during the last quarter. King Wealth Management Group grew its holdings in 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 worth $413,000 after acquiring an additional 182 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in shares of Bristol-Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock valued at $1,004,000 after purchasing an additional 190 shares during the last quarter. Finally, Marcum Wealth LLC raised its holdings in shares of Bristol-Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock valued at $1,177,000 after purchasing an additional 193 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 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 transaction, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Piper Sandler started coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. 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 report on Wednesday, April 23rd. Finally, Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two 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 presently has a consensus rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $48.65 on Tuesday. The company’s 50 day simple moving average is $48.62 and its 200-day simple moving average is $54.63. The firm has a market cap of $99.01 billion, a PE ratio of -11.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly 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 firm had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Bristol-Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.40) EPS. As a group, equities analysts predict 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.