CoreFirst Bank & Trust Grows Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Posted by on Jun 15th, 2023

CoreFirst Bank & Trust increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,717 shares of the biopharmaceutical company’s stock after acquiring an additional 800 shares during the period. Bristol-Myers Squibb makes up about 0.8% of CoreFirst Bank & Trust’s portfolio, making the stock its 27th largest holding. CoreFirst Bank & Trust’s holdings in Bristol-Myers Squibb were worth $1,059,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Dakota Wealth Management purchased a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $332,000. Covestor Ltd lifted its stake in Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,082 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after buying an additional 57,444 shares during the period. Ergoteles LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp raised its position in shares of Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after buying an additional 68,018 shares during the period. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America lifted their price target on shares of Bristol-Myers Squibb from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, April 21st. Barclays reduced their price target on shares of Bristol-Myers Squibb from $66.00 to $65.00 in a research report on Monday, May 1st. Credit Suisse Group reduced their price target on shares of Bristol-Myers Squibb from $78.00 to $72.00 in a research report on Friday, April 28th. Jefferies Financial Group began coverage on shares of Bristol-Myers Squibb in a research report on Monday, March 6th. They set a “hold” rating and a $62.00 price target on the stock. Finally, 51job reaffirmed a “maintains” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.62.

Insiders Place Their Bets

In other news, EVP Rupert Vessey sold 50,385 shares of Bristol-Myers Squibb stock in a transaction 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 transaction, the executive vice president now directly owns 47,751 shares of the company’s stock, valued at approximately $3,202,182.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Stock Down 0.9 %

BMY stock opened at $64.15 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.28 and a debt-to-equity ratio of 1.10. Bristol-Myers Squibb has a twelve month low of $63.07 and a twelve month high of $81.43. The company’s 50 day moving average is $67.39 and its two-hundred day moving average is $70.46. The stock has a market cap of $134.77 billion, a P/E ratio of 18.70, a PEG ratio of 1.33 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, topping 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 company had revenue of $11.34 billion for the quarter, compared to analysts’ expectations of $11.50 billion. During the same quarter last year, the company earned $1.96 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts expect that Bristol-Myers Squibb will post 8.06 earnings per share for the current fiscal year.

Bristol-Myers Squibb Profile

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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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