Sawtooth Solutions LLC Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Sawtooth Solutions LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 16.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,158 shares of the biopharmaceutical company’s stock after selling 3,344 shares during the quarter. Sawtooth Solutions LLC’s holdings in Bristol-Myers Squibb were worth $1,253,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Bristol-Myers Squibb by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 42,563 shares of the biopharmaceutical company’s stock valued at $2,653,000 after acquiring an additional 403 shares in the last quarter. Covestor Ltd bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $61,000. Linscomb & Williams Inc. raised its holdings in shares of Bristol-Myers Squibb by 3.6% during the fourth quarter. Linscomb & Williams Inc. now owns 8,960 shares of the biopharmaceutical company’s stock valued at $559,000 after acquiring an additional 310 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Bristol-Myers Squibb by 93.5% during the fourth quarter. Csenge Advisory Group now owns 10,038 shares of the biopharmaceutical company’s stock valued at $668,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Prudential PLC raised its holdings in shares of Bristol-Myers Squibb by 376.1% during the fourth quarter. Prudential PLC now owns 51,129 shares of the biopharmaceutical company’s stock valued at $3,188,000 after acquiring an additional 40,390 shares in the last quarter. Hedge funds and other institutional investors own 76.54% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.8 %

Bristol-Myers Squibb stock opened at $70.47 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $80.59. The stock has a market capitalization of $150.47 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.49 and a beta of 0.43. The business’s fifty day moving average is $72.76 and its 200 day moving average is $73.96.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.50 billion. During the same period last year, the firm posted $1.93 earnings per share. Bristol-Myers Squibb’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Bristol-Myers Squibb will post 7.51 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on BMY. Berenberg Bank downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their target price for the company from $82.00 to $76.00 in a report on Wednesday. Raymond James downgraded Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. Bank of America increased their price objective on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. Finally, Citigroup reiterated a “buy” rating and issued a $90.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Moderate Buy” and a consensus price target of $76.36.

About Bristol-Myers Squibb

(Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; 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; and Orencia for adult patients with active RA and psoriatic arthritis.

Featured Stories

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.