Abner Herrman & Brock LLC Sells 210,264 Shares of Bristol-Myers Squibb (NYSE:BMY)

Abner Herrman & Brock LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 98.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,520 shares of the biopharmaceutical company’s stock after selling 210,264 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Bristol-Myers Squibb were worth $225,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cigna Investments Inc. New lifted its stake in shares of Bristol-Myers Squibb by 0.5% during the 4th quarter. Cigna Investments Inc. New now owns 26,379 shares of the biopharmaceutical company’s stock worth $1,898,000 after purchasing an additional 141 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.5% in the 1st quarter. Catalyst Financial Partners LLC now owns 6,001 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 145 shares in the last quarter. Keystone Wealth Services LLC boosted its stake in Bristol-Myers Squibb by 2.0% in the first quarter. Keystone Wealth Services LLC now owns 7,468 shares of the biopharmaceutical company’s stock valued at $518,000 after acquiring an additional 148 shares in the last quarter. Dillon & Associates Inc. increased its position in shares of Bristol-Myers Squibb by 3.9% during the first quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock worth $245,000 after purchasing an additional 150 shares in the last quarter. Finally, Abbrea Capital LLC boosted its position in shares of Bristol-Myers Squibb by 1.5% in the 1st quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock worth $695,000 after purchasing an additional 150 shares in the last quarter. 74.98% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.04 during midday trading on Thursday, reaching $59.61. 3,300,261 shares of the company’s stock traded hands, compared to its average volume of 8,793,384. The company has a market cap of $124.53 billion, a P/E ratio of 15.87, a PEG ratio of 1.58 and a beta of 0.42. The company has a fifty day simple moving average of $61.88 and a two-hundred day simple moving average of $65.33. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.28 and a current ratio of 1.39. Bristol-Myers Squibb has a 1 year low of $59.44 and a 1 year high of $81.43.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. During the same period in the prior year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb will post 7.49 EPS for the current fiscal year.

Analysts Set New Price Targets

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald decreased their price target on Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. SVB Securities assumed coverage on shares of Bristol-Myers Squibb in a research report on Monday, July 10th. They set a “market perform” rating and a $66.00 target price on the stock. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Barclays decreased their target price on Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Finally, Daiwa Capital Markets began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, June 28th. They set an “outperform” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.14.

Insider Activity

In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total transaction of $44,754.48. Following the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at approximately $402,545.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.