Livforsakringsbolaget Skandia Omsesidigt Has $7.03 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,906 shares of the biopharmaceutical company’s stock after selling 11,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bristol-Myers Squibb were worth $7,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMY. Dakota Wealth Management bought a new stake in Bristol-Myers Squibb in the first quarter valued at about $332,000. Covestor Ltd boosted its holdings in Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 53.2% in the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares during the period. Ergoteles LLC acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $1,997,000. Finally, Mackenzie Financial Corp lifted its position in shares of Bristol-Myers Squibb by 25.1% during 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 and hedge funds.

Bristol-Myers Squibb Trading Down 0.1 %

Bristol-Myers Squibb stock traded down $0.04 during trading hours 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 firm has a market capitalization of $124.53 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.58 and a beta of 0.42. 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 fifty-two week low of $59.44 and a fifty-two week high of $81.43. The firm’s 50 day moving average is $61.88 and its 200-day moving average is $65.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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 company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 earnings per share. On average, analysts predict that Bristol-Myers Squibb will post 7.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Atlantic Securities lowered their price target on Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 28th. 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 for the company. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Cantor Fitzgerald cut their target price on shares of 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. Finally, Bank of America decreased their price target on Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $71.14.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, 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 sale was disclosed in a legal filing 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 stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the transaction, 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. 0.09% of the stock is currently 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.