Thompson Investment Management Inc. Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Thompson Investment Management Inc. increased its position in Bristol-Myers Squibb (NYSE:BMY) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,967 shares of the biopharmaceutical company’s stock after acquiring an additional 2,679 shares during the period. Thompson Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $4,474,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BMY. Dakota Wealth Management bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $332,000. Covestor Ltd boosted 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 acquiring an additional 1,082 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after acquiring an additional 57,444 shares during the period. Ergoteles LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $1,997,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after acquiring an additional 68,018 shares during the period. Institutional investors own 74.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMY. HSBC began coverage on Bristol-Myers Squibb in a research report on Friday, July 14th. They issued a “reduce” rating and a $56.00 target price on the stock. Barclays decreased their target price on Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, July 28th. Credit Suisse Group decreased their target price on Bristol-Myers Squibb from $72.00 to $66.00 in a research report on Wednesday, July 12th. SVB Leerink reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, July 10th. Finally, TD Cowen decreased their price objective on Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $70.67.

Insider Activity

In related 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 transaction, the executive vice president now owns 6,584 shares in the company, valued at approximately $402,545.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction, the executive vice president now owns 6,584 shares in the company, valued at approximately $402,545.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.8 %

NYSE BMY traded down $0.46 during midday trading on Friday, hitting $59.03. 22,379,176 shares of the company traded hands, compared to its average volume of 8,954,007. 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 company has a market cap of $123.32 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42. The company’s 50-day simple moving average is $61.70 and its 200-day simple moving average is $65.25. Bristol-Myers Squibb has a 52 week low of $58.86 and a 52 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company 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 business posted $1.93 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 7.49 earnings per share for the current year.

Bristol-Myers Squibb Company 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.