Beese Fulmer Investment Management Inc. Sells 3,571 Shares of Bristol-Myers Squibb (NYSE:BMY)

Beese Fulmer Investment Management Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,116 shares of the biopharmaceutical company’s stock after selling 3,571 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,310,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BMY. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $26,000. GoalVest Advisory LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth about $29,000. Coppell Advisory Solutions Corp. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $31,000. Live Oak Investment Partners bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $33,000. Finally, First Personal Financial Services lifted its position in Bristol-Myers Squibb by 67.8% during the first quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Institutional investors own 74.98% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, July 28th. SVB Securities began coverage on Bristol-Myers Squibb in a research note on Monday, July 10th. They set a “market perform” rating and a $66.00 target price for the company. BMO Capital Markets lowered their target price on Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Truist Financial reissued a “buy” rating and set a $84.00 target price on shares of Bristol-Myers Squibb in a research note on Friday. Finally, Atlantic Securities lowered their target price on Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” 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 assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.67.

Insider Buying and Selling

In related news, EVP Robert M. Plenge sold 732 shares of Bristol-Myers Squibb 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 transaction, 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 is available through this link. In other Bristol-Myers Squibb news, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 6,584 shares in the company, valued at $402,545.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction 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 owned by insiders.

Bristol-Myers Squibb Trading Down 0.8 %

Shares of BMY stock traded down $0.46 during trading hours on Friday, hitting $59.03. 22,379,176 shares of the company’s stock traded hands, compared to its average volume of 8,954,007. The stock’s 50 day simple moving average is $61.62 and its 200 day simple moving average is $65.14. The stock has a market cap of $123.32 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42. Bristol-Myers Squibb has a 12 month low of $58.86 and a 12 month high of $81.43. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its 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 in the prior year, the business earned $1.93 EPS. Bristol-Myers Squibb’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.49 EPS for the current year.

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.