Private Asset Management Inc. Sells 26,924 Shares of Bristol-Myers Squibb (NYSE:BMY)

Private Asset Management Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 19.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,411 shares of the biopharmaceutical company’s stock after selling 26,924 shares during the period. Bristol-Myers Squibb makes up approximately 1.4% of Private Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Private Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $7,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cigna Investments Inc. New raised its position in shares of Bristol-Myers Squibb by 0.5% in the 4th quarter. Cigna Investments Inc. New now owns 26,379 shares of the biopharmaceutical company’s stock worth $1,898,000 after acquiring an additional 141 shares in the last quarter. Catalyst Financial Partners LLC increased its position in Bristol-Myers Squibb by 2.5% during 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 raised 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 buying an additional 148 shares during the last quarter. Dillon & Associates Inc. increased its holdings in Bristol-Myers Squibb by 3.9% in the 1st quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 150 shares during the period. Finally, Abbrea Capital LLC raised its position in Bristol-Myers Squibb by 1.5% during the 1st quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock worth $695,000 after buying an additional 150 shares during the last quarter. 74.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Bristol-Myers Squibb news, EVP Robert M. Plenge sold 732 shares of the 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 completion of the transaction, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at $402,545.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at $402,545.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 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. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $0.69 during trading on Thursday, reaching $60.34. The company’s stock had a trading volume of 1,686,886 shares, compared to its average volume of 8,782,300. The firm has a market cap of $126.06 billion, a PE ratio of 15.87, a P/E/G ratio of 1.58 and a beta of 0.42. The company has a 50-day moving average price of $61.88 and a two-hundred day moving average price of $65.33. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. Bristol-Myers Squibb has a fifty-two week low of $59.45 and a fifty-two week high of $81.43.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on BMY shares. Morgan Stanley reiterated an “underweight” rating and set a $59.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, July 19th. Wells Fargo & Company dropped their price objective 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. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Daiwa Capital Markets assumed coverage on shares of Bristol-Myers Squibb in a report on Wednesday, June 28th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Barclays cut their target price on shares of Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.14.

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.