Azimuth Capital Investment Management LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,102 shares of the biopharmaceutical company’s stock after selling 1,605 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $9,649,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BOS Asset Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $563,000. Benedict Financial Advisors Inc. raised its stake in shares of Bristol-Myers Squibb by 1.6% during the fourth quarter. Benedict Financial Advisors Inc. now owns 69,167 shares of the biopharmaceutical company’s stock valued at $4,977,000 after acquiring an additional 1,109 shares during the last quarter. Freedom Wealth Alliance LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $151,000. Bluefin Capital Management LLC raised its stake in Bristol-Myers Squibb by 392.7% in the fourth quarter. Bluefin Capital Management LLC now owns 8,050 shares of the biopharmaceutical company’s stock worth $579,000 after buying an additional 10,800 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in Bristol-Myers Squibb by 29.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 29,070 shares of the biopharmaceutical company’s stock worth $2,092,000 after buying an additional 6,605 shares in the last quarter. 75.51% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, EVP Rupert Vessey sold 50,385 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $67.06, for a total value of $3,378,818.10. Following the sale, the executive vice president now owns 47,751 shares in the company, valued at $3,202,182.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Bristol-Myers Squibb had a net margin of 15.95% and a return on equity of 51.75%. The firm had revenue of $11.34 billion for the quarter, compared to analysts’ expectations of $11.50 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 8.06 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on BMY shares. StockNews.com started coverage on shares of Bristol-Myers Squibb in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Bank of America increased their price target on shares of Bristol-Myers Squibb from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Credit Suisse Group decreased their price target on shares of Bristol-Myers Squibb from $78.00 to $72.00 in a research note on Friday, April 28th. 51job reissued a “maintains” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 28th. Finally, Jefferies Financial Group started coverage on shares of Bristol-Myers Squibb in a research note on Monday, March 6th. They issued a “hold” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.62.
Bristol-Myers Squibb Company Profile
Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
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