Bristol-Myers Squibb Co (NYSE:BMY) Stake Decreased by Cedar Wealth Management LLC

Cedar Wealth Management LLC lowered its position in Bristol-Myers Squibb Co (NYSE:BMY) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. Cedar Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $200,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc lifted its stake in Bristol-Myers Squibb by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 128,376,159 shares of the biopharmaceutical company’s stock worth $7,969,593,000 after acquiring an additional 1,229,553 shares in the last quarter. BlackRock Inc. raised its stake in Bristol-Myers Squibb by 0.9% during the 4th quarter. BlackRock Inc. now owns 115,573,078 shares of the biopharmaceutical company’s stock worth $6,007,489,000 after acquiring an additional 999,193 shares during the period. Northern Trust Corp raised its stake in Bristol-Myers Squibb by 4.4% during the 4th quarter. Northern Trust Corp now owns 22,576,884 shares of the biopharmaceutical company’s stock worth $1,173,547,000 after acquiring an additional 954,877 shares during the period. Bank of New York Mellon Corp raised its stake in Bristol-Myers Squibb by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 17,303,884 shares of the biopharmaceutical company’s stock worth $899,456,000 after acquiring an additional 180,711 shares during the period. Finally, Norges Bank bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $797,038,000. Institutional investors own 77.65% of the company’s stock.

In other news, insider Karen Murphy Santiago sold 3,065 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average price of $47.29 per share, for a total transaction of $236,450.00. Following the purchase, the director now owns 27,000 shares in the company, valued at approximately $1,276,830. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Several equities research analysts have recently weighed in on BMY shares. Zacks Investment Research lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Goldman Sachs Group initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price on the stock. BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 4th. Finally, Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.34.

BMY traded up $0.23 during trading on Friday, reaching $47.56. 10,184,516 shares of the company’s stock were exchanged, compared to its average volume of 17,590,322. Bristol-Myers Squibb Co has a fifty-two week low of $44.30 and a fifty-two week high of $63.69. The firm has a market capitalization of $77.91 billion, a PE ratio of 11.95, a P/E/G ratio of 2.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.79 and a current ratio of 1.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. Equities analysts forecast that Bristol-Myers Squibb Co will post 4.18 EPS for the current year.

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Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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