Cardinal Capital Management Inc. Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cardinal Capital Management Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,150 shares of the biopharmaceutical company’s stock after selling 1,150 shares during the period. Cardinal Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $713,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $26,000. GoalVest Advisory LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter worth $29,000. Coppell Advisory Solutions Corp. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $31,000. Live Oak Investment Partners bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $33,000. Finally, First Personal Financial Services boosted its holdings in shares of Bristol-Myers Squibb by 67.8% during the 1st quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bristol-Myers Squibb news, 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 completion of the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at $402,545.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert M. Plenge sold 732 shares of the firm’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 sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Powell sold 17,986 shares of the stock in a transaction dated 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. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Down 0.8 %

Shares of BMY stock traded down $0.46 during mid-day trading on Friday, hitting $59.03. The stock had a trading volume of 22,379,176 shares, compared to its average volume of 8,954,007. Bristol-Myers Squibb has a 12-month low of $58.86 and a 12-month 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 firm’s 50-day moving average is $61.70 and its two-hundred day moving average is $65.25. The firm has a market capitalization of $123.32 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42.

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

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. SVB Securities began 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. Bank of America reduced their price target on shares of 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. 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 objective for the company. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Wells Fargo & Company lowered their price target on shares of Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.67.

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.