Axxcess Wealth Management LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Posted by on Jun 14th, 2023

Axxcess Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,070 shares of the biopharmaceutical company’s stock after buying an additional 6,605 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $2,092,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 1.6% in the third quarter. Vanguard Group Inc. now owns 199,886,585 shares of the biopharmaceutical company’s stock valued at $14,209,937,000 after purchasing an additional 3,058,491 shares during the period. BlackRock Inc. boosted its stake in shares of Bristol-Myers Squibb by 2.0% in the third quarter. BlackRock Inc. now owns 174,002,852 shares of the biopharmaceutical company’s stock valued at $12,369,862,000 after purchasing an additional 3,357,590 shares during the period. Boston Partners boosted its stake in shares of Bristol-Myers Squibb by 35.7% in the fourth quarter. Boston Partners now owns 13,794,089 shares of the biopharmaceutical company’s stock valued at $992,048,000 after purchasing an additional 3,627,705 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,207,099 shares of the biopharmaceutical company’s stock valued at $806,351,000 after purchasing an additional 70,887 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Bristol-Myers Squibb by 1.7% in the third quarter. UBS Asset Management Americas Inc. now owns 10,226,547 shares of the biopharmaceutical company’s stock valued at $727,005,000 after purchasing an additional 169,209 shares during the period. 75.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Rupert Vessey sold 50,385 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $67.06, for a total transaction of $3,378,818.10. Following the sale, the executive vice president now directly owns 47,751 shares in the company, valued at approximately $3,202,182.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BMY shares. Jefferies Financial Group started coverage on shares of Bristol-Myers Squibb in a report on Monday, March 6th. They set a “hold” rating and a $62.00 price objective for the company. Credit Suisse Group decreased their price objective on shares of Bristol-Myers Squibb from $78.00 to $72.00 in a report on Friday, April 28th. StockNews.com started coverage on shares of Bristol-Myers Squibb in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Barclays decreased their price objective on shares of Bristol-Myers Squibb from $66.00 to $65.00 in a report on Monday, May 1st. Finally, Bank of America raised their price objective on shares of Bristol-Myers Squibb from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.62.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $64.77 on Wednesday. The company has a market cap of $136.06 billion, a PE ratio of 18.88, a P/E/G ratio of 1.33 and a beta of 0.44. The company’s 50-day moving average price is $67.50 and its 200 day moving average price is $70.50. Bristol-Myers Squibb has a fifty-two week low of $63.07 and a fifty-two week high of $81.43. The company has a quick ratio of 1.28, a current ratio of 1.42 and a debt-to-equity ratio of 1.10.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $11.34 billion for the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a net margin of 15.95% and a return on equity of 51.75%. Bristol-Myers Squibb’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.96 EPS. Sell-side analysts anticipate that Bristol-Myers Squibb will post 8.06 earnings per share for the current year.

About Bristol-Myers Squibb

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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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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