Bristol-Myers Squibb (NYSE:BMY) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 12.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,152 shares of the biopharmaceutical company’s stock after purchasing an additional 5,405 shares during the quarter. Bristol-Myers Squibb makes up 1.8% of New England Research & Management Inc.’s portfolio, making the stock its 14th biggest holding. New England Research & Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,079,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $26,000. GoalVest Advisory LLC bought a new position in Bristol-Myers Squibb during the 1st quarter worth approximately $29,000. Coppell Advisory Solutions Corp. bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $31,000. Live Oak Investment Partners bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $33,000. Finally, Strengthening Families & Communities LLC raised its position in shares of Bristol-Myers Squibb by 90.0% during the 1st quarter. Strengthening Families & Communities LLC now owns 475 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 225 shares during the period. 74.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the transaction, the executive vice president now owns 6,584 shares in the company, valued at $402,545.76. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on BMY shares. SVB Securities started coverage on Bristol-Myers Squibb in a research report on Monday, July 10th. They issued a “market perform” rating and a $66.00 target price on the stock. Cantor Fitzgerald decreased their target price on Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, July 19th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Wells Fargo & Company lowered their price target on Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, July 28th. Finally, Bank of America reduced their price objective on Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.14.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.75 during trading hours on Thursday, hitting $60.40. 907,823 shares of the company’s stock were exchanged, compared to its average volume of 8,782,318. Bristol-Myers Squibb has a 1-year low of $59.45 and a 1-year high of $81.43. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.39 and a quick ratio of 1.28. The stock has a market capitalization of $126.18 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.58 and a beta of 0.42. The company’s 50-day moving average price is $61.88 and its 200-day moving average price is $65.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.81 billion. During the same period in the prior year, the firm posted $1.93 EPS. Bristol-Myers Squibb’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that Bristol-Myers Squibb will post 7.49 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, 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.