Ilmarinen Mutual Pension Insurance Co cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,000 shares of the biopharmaceutical company’s stock after selling 38,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Bristol-Myers Squibb were worth $11,921,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $26,000. GoalVest Advisory LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth approximately $29,000. Coppell Advisory Solutions Corp. bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $31,000. Live Oak Investment Partners acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $33,000. Finally, First Personal Financial Services boosted 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 worth $34,000 after acquiring an additional 200 shares during the period. 74.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
BMY has been the subject of several research reports. Wells Fargo & Company cut their price target on Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Cantor Fitzgerald cut their target price on shares of Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. HSBC started coverage on Bristol-Myers Squibb in a report on Friday, July 14th. They set a “reduce” rating and a $56.00 price objective for the company. Finally, Daiwa Capital Markets initiated coverage on Bristol-Myers Squibb in a report on Wednesday, June 28th. They set an “outperform” rating and a $70.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.14.
Insiders Place Their Bets
In related news, EVP Robert M. Plenge sold 732 shares of Bristol-Myers Squibb 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 sale, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total transaction of $44,754.48. Following the sale, the executive vice president now owns 6,584 shares in the company, valued at approximately $402,545.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Price Performance
Shares of NYSE:BMY opened at $60.24 on Wednesday. The firm has a 50 day moving average of $61.88 and a 200-day moving average of $65.33. Bristol-Myers Squibb has a 12 month low of $59.45 and a 12 month high of $81.43. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $125.85 billion, a PE ratio of 16.02, a PEG ratio of 1.58 and a beta of 0.42.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $11.81 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 7.49 EPS 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.
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