Searle & CO. bought a new position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 66,200 shares of the biopharmaceutical company’s stock, valued at approximately $3,655,000. Bristol-Myers Squibb comprises 3.2% of Searle & CO.’s investment portfolio, making the stock its 3rd largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WESPAC Advisors SoCal LLC increased its stake in shares of Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 75 shares in the last quarter. Acropolis Investment Management LLC increased its stake in shares of Bristol-Myers Squibb by 21.3% in the third quarter. Acropolis Investment Management LLC now owns 2,815 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 495 shares in the last quarter. Jolley Asset Management LLC increased its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $163,000. Finally, Solaris Asset Management LLC increased its stake in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) traded down 0.27% on Tuesday, reaching $56.36. The company’s stock had a trading volume of 9,818,866 shares. The company has a market capitalization of $94.19 billion, a price-to-earnings ratio of 28.19 and a beta of 0.90. Bristol-Myers Squibb Co. has a 1-year low of $49.03 and a 1-year high of $77.12. The stock has a 50-day moving average price of $52.72 and a 200-day moving average price of $62.87.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 27th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.12. Bristol-Myers Squibb had a net margin of 18.54% and a return on equity of 28.98%. The business earned $4.83 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb Co. will post $2.85 EPS for the current year.

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Several analysts have recently weighed in on the company. SunTrust Banks Inc. downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $68.00 in a research report on Friday, August 5th. Vetr downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $58.77 target price for the company. in a research report on Monday, November 7th. Morgan Stanley downgraded Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research report on Friday, August 5th. Sanford C. Bernstein reiterated a “market perform” rating and set a $65.00 target price (down from $79.00) on shares of Bristol-Myers Squibb in a research report on Thursday, August 11th. Finally, Credit Suisse Group AG downgraded Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $63.00 in a research report on Sunday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $67.51.

In related news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now owns 334,499 shares in the company, valued at $19,022,958.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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