Rise Advisors LLC Sells 383 Shares of Bristol-Myers Squibb (NYSE:BMY)

Rise Advisors LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 37.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 628 shares of the biopharmaceutical company’s stock after selling 383 shares during the quarter. Rise Advisors LLC’s holdings in Bristol-Myers Squibb were worth $40,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dakota Wealth Management bought a new stake in Bristol-Myers Squibb during the 1st quarter worth about $332,000. Covestor Ltd lifted its position in Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,082 shares in the last quarter. NewEdge Advisors LLC lifted its position in 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 buying an additional 57,444 shares in the last quarter. Ergoteles LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter worth about $1,997,000. Finally, Mackenzie Financial Corp lifted its position in 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 in the last quarter. 74.98% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.46 on Friday, reaching $59.03. 22,379,176 shares of the stock were exchanged, compared to its average volume of 8,954,007. The firm’s 50 day moving average is $61.70 and its 200-day moving average is $65.25. Bristol-Myers Squibb has a one year low of $58.86 and a one year high of $81.43. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.28 and a current ratio of 1.39. The firm has a market cap of $123.32 billion, a PE ratio of 15.69, a P/E/G ratio of 1.58 and a beta of 0.42.

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

Insider Activity at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 17,986 shares of the 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 transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Ann Powell sold 17,986 shares of the 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 transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction that occurred 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 transaction, 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 insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, June 28th. They set an “outperform” rating and a $70.00 price objective on the stock. Credit Suisse Group lowered their price objective on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a research note on Wednesday, July 12th. TD Cowen lowered their price objective on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday. SVB Securities started coverage on shares of Bristol-Myers Squibb in a research note on Monday, July 10th. They issued a “market perform” rating and a $66.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $70.67.

About Bristol-Myers Squibb

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.