1832 Asset Management L.P. Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

1832 Asset Management L.P. boosted its position in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 27.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,711 shares of the biopharmaceutical company’s stock after acquiring an additional 16,005 shares during the quarter. 1832 Asset Management L.P.’s holdings in Bristol-Myers Squibb were worth $3,833,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. lifted its position in shares of Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in shares of Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 296 shares in the last quarter. Great Diamond Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 367 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $1,139,000. Finally, Scotia Capital Inc. lifted its stake in Bristol-Myers Squibb by 48.6% during the fourth quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock worth $12,146,000 after purchasing an additional 77,471 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMY has been the subject of several recent analyst reports. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 23rd. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.00.

View Our Latest Research Report on BMY

Bristol-Myers Squibb Price Performance

BMY opened at $41.49 on Friday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a 50-day moving average of $45.50 and a 200-day moving average of $48.98. Bristol-Myers Squibb has a 1-year low of $39.91 and a 1-year high of $66.38. The company has a market capitalization of $84.09 billion, a P/E ratio of -13.38, a PEG ratio of 13.96 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

About Bristol-Myers Squibb

(Free Report)

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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

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