Norway Savings Bank Acquires 1,200 Shares of Bristol-Myers Squibb (NYSE:BMY)

Norway Savings Bank raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,190 shares of the biopharmaceutical company’s stock after acquiring an additional 1,200 shares during the quarter. Norway Savings Bank’s holdings in Bristol-Myers Squibb were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $1,873,696,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 114,228.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 193.4% in the first quarter. Envestnet Asset Management Inc. now owns 7,214,000 shares of the biopharmaceutical company’s stock worth $186,351,000 after purchasing an additional 4,755,058 shares during the period. Boston Partners increased its holdings in shares of Bristol-Myers Squibb by 31.1% in the first quarter. Boston Partners now owns 18,080,568 shares of the biopharmaceutical company’s stock worth $1,252,480,000 after purchasing an additional 4,286,479 shares during the period. Finally, Pacer Advisors Inc. grew its position in Bristol-Myers Squibb by 2,077.2% in the first quarter. Pacer Advisors Inc. now owns 4,049,072 shares of the biopharmaceutical company’s stock worth $280,641,000 after acquiring an additional 3,863,095 shares in the last quarter. Institutional investors own 74.98% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Robert M. Plenge sold 732 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert M. Plenge sold 732 shares of the firm’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 sale, 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 hyperlink. Also, EVP Ann Powell sold 17,986 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.8 %

BMY stock traded down $0.46 during trading on Friday, reaching $59.03. The company had a trading volume of 22,379,176 shares, compared to its average volume of 8,954,007. Bristol-Myers Squibb has a 52 week low of $58.86 and a 52 week high of $81.43. The company has a market cap of $123.32 billion, a P/E ratio of 15.70, a PEG ratio of 1.58 and a beta of 0.42. The business has a 50 day moving average of $61.62 and a 200 day moving average of $65.14. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.39 and a quick ratio of 1.28.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMY. Truist Financial reiterated a “buy” rating and issued a $84.00 target price on shares of Bristol-Myers Squibb in a research report on Friday. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. SVB Leerink reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, July 10th. Credit Suisse Group cut their target price on shares of Bristol-Myers Squibb from $72.00 to $66.00 in a research report on Wednesday, July 12th. Finally, Barclays cut their price target on shares of Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating for the company in a research report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price 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.