Sterling Investment Management LLC Sells 312 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sterling Investment Management LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,538 shares of the biopharmaceutical company’s stock after selling 312 shares during the period. Bristol-Myers Squibb comprises approximately 1.1% of Sterling Investment Management LLC’s holdings, making the stock its 27th largest position. Sterling Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMY. True Wealth Design LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. GoalVest Advisory LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth approximately $29,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $31,000. Live Oak Investment Partners bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $33,000. Finally, First Personal Financial Services lifted its stake 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 buying an additional 200 shares in the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Robert M. Plenge sold 732 shares of Bristol-Myers Squibb stock in a transaction dated 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 directly owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the 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 sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert M. Plenge sold 732 shares of the business’s 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 sale, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at $402,545.76. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMY. Truist Financial reiterated a “buy” rating and issued a $84.00 price target on shares of Bristol-Myers Squibb in a research note on Friday. HSBC began coverage on Bristol-Myers Squibb in a research report on Friday, July 14th. They set a “reduce” rating and a $56.00 target price for the company. Bank of America dropped their price target on Bristol-Myers Squibb from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, July 28th. TD Cowen reduced 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 report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.67.

Bristol-Myers Squibb Trading Up 0.1 %

NYSE BMY traded up $0.06 during trading hours on Tuesday, hitting $58.64. 1,519,093 shares of the company were exchanged, compared to its average volume of 8,958,888. Bristol-Myers Squibb has a 52 week low of $58.33 and a 52 week 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. The stock has a 50-day moving average price of $61.62 and a 200 day moving average price of $65.11. The stock has a market cap of $122.50 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.57 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.24). The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $11.81 billion. Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 EPS. Analysts forecast that Bristol-Myers Squibb will post 7.44 earnings per share for the current fiscal 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.