Canandaigua National Bank & Trust Co. decreased its position in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,566 shares of the biopharmaceutical company’s stock after selling 649 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Bristol-Myers Squibb were worth $4,129,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the business. Dakota Wealth Management bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $332,000. Covestor Ltd increased its stake in shares of Bristol-Myers Squibb by 111.5% in the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,082 shares during the period. NewEdge Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after purchasing an additional 57,444 shares during the last quarter. Ergoteles LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp increased its position in Bristol-Myers Squibb by 25.1% in the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after buying an additional 68,018 shares during the period. 74.98% of the stock is owned by institutional investors.
Analyst Ratings Changes
BMY has been the topic of several research analyst reports. Atlantic Securities lowered their price objective on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 28th. HSBC began coverage on shares of Bristol-Myers Squibb in a report on Friday, July 14th. They set a “reduce” rating and a $56.00 price objective on the stock. Barclays reduced their target price on Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, July 28th. Bank of America dropped their price target on shares of 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. Finally, Credit Suisse Group decreased their price objective on Bristol-Myers Squibb from $72.00 to $66.00 in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.14.
Bristol-Myers Squibb Price Performance
Bristol-Myers Squibb stock opened at $60.11 on Thursday. The business’s 50-day simple moving average is $61.88 and its 200 day simple moving average is $65.33. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. The stock has a market cap of $125.58 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.58 and a beta of 0.42. Bristol-Myers Squibb has a 12-month low of $59.45 and a 12-month high of $81.43.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.24). The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.81 billion. Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $1.93 EPS. As a group, research analysts anticipate that Bristol-Myers Squibb will post 7.49 earnings per share for the current year.
Insider Transactions at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the firm’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 owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,706,915. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert M. Plenge sold 732 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total value of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at $402,545.76. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
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.
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