Financial Advisors LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Financial News Live · Dec 3, 2022 03:22

Financial Advisors LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 11.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,489 shares of the biopharmaceutical company's stock after selling 560 shares during the quarter. Financial Advisors LLC's holdings in Bristol-Myers Squibb were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BMY. Resonant Capital Advisors LLC lifted its holdings in Bristol-Myers Squibb by 0.3% in the second quarter. Resonant Capital Advisors LLC now owns 42,297 shares of the biopharmaceutical company's stock valued at $3,280,000 after buying an additional 134 shares during the period. MV Capital Management Inc. boosted its holdings in Bristol-Myers Squibb by 10.7% during the first quarter. MV Capital Management Inc. now owns 1,391 shares of the biopharmaceutical company's stock worth $102,000 after purchasing an additional 135 shares during the last quarter. Bernardo Wealth Planning LLC boosted its stake in Bristol-Myers Squibb by 4.3% in the first quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company's stock valued at $247,000 after acquiring an additional 139 shares during the last quarter. Providence Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 0.5% in the first quarter. Providence Wealth Advisors LLC now owns 27,047 shares of the biopharmaceutical company's stock valued at $1,997,000 after acquiring an additional 139 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in Bristol-Myers Squibb by 16.0% in the second quarter. Rise Advisors LLC now owns 1,007 shares of the biopharmaceutical company's stock valued at $78,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 76.54% of the company's stock.

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Insider Buying and Selling

In other news, CFO David V. Elkins sold 133,951 shares of the company's stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the transaction, the chief financial officer now owns 100,460 shares in the company, valued at $7,162,798. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Ann Powell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the transaction, the executive vice president now owns 50,476 shares in the company, valued at approximately $3,571,177. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David V. Elkins sold 133,951 shares of the firm's stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total value of $9,550,706.30. Following the completion of the transaction, the chief financial officer now owns 100,460 shares in the company, valued at approximately $7,162,798. The disclosure for this sale can be found here. Insiders sold a total of 296,111 shares of company stock valued at $21,582,900 over the last three months. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent research reports. Credit Suisse Group started coverage on shares of Bristol-Myers Squibb in a research note on Thursday, November 17th. They set a "neutral" rating and a $78.00 price target on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $85.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. StockNews.com assumed coverage on shares of Bristol-Myers Squibb in a report on Wednesday, October 12th. They set a "strong-buy" rating on the stock. Atlantic Securities increased their target price on shares of Bristol-Myers Squibb from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, November 10th. Finally, Morgan Stanley reduced their target price on shares of Bristol-Myers Squibb from $61.00 to $60.00 and set an "underweight" rating on the stock in a report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.15 during trading hours on Friday, hitting $81.03. 156,522 shares of the stock traded hands, compared to its average volume of 9,094,859. Bristol-Myers Squibb has a 1 year low of $54.67 and a 1 year high of $81.43. The stock has a 50 day moving average price of $74.77 and a 200 day moving average price of $74.23. The company has a quick ratio of 1.31, a current ratio of 1.42 and a debt-to-equity ratio of 1.13. The company has a market cap of $172.28 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 1.90 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The company had revenue of $11.22 billion for the quarter, compared to analysts' expectations of $11.18 billion. During the same quarter in the previous year, the business posted $2.00 earnings per share. Bristol-Myers Squibb's quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts forecast that Bristol-Myers Squibb will post 7.6 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, October 6th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 70.36%.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.