Chesley Taft & Associates LLC Sells 902 Shares of Bristol-Myers Squibb (NYSE:BMY)

Chesley Taft & Associates LLC lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 16.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,751 shares of the biopharmaceutical company’s stock after selling 902 shares during the period. Chesley Taft & Associates LLC’s holdings in Bristol-Myers Squibb were worth $290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrive Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 4.1% in the first quarter. Thrive Wealth Management LLC now owns 5,875 shares of the biopharmaceutical company’s stock worth $358,000 after acquiring an additional 232 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Bristol-Myers Squibb by 21.4% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,062 shares of the biopharmaceutical company’s stock worth $431,000 after purchasing an additional 1,246 shares in the last quarter. Boltwood Capital Management increased its stake in Bristol-Myers Squibb by 11.5% during the 1st quarter. Boltwood Capital Management now owns 5,245 shares of the biopharmaceutical company’s stock valued at $320,000 after purchasing an additional 540 shares in the last quarter. Gilman Hill Asset Management LLC raised its holdings in Bristol-Myers Squibb by 1.4% in the first quarter. Gilman Hill Asset Management LLC now owns 221,311 shares of the biopharmaceutical company’s stock worth $13,498,000 after buying an additional 3,074 shares during the last quarter. Finally, Naples Global Advisors LLC raised its holdings in Bristol-Myers Squibb by 0.4% in the first quarter. Naples Global Advisors LLC now owns 80,843 shares of the biopharmaceutical company’s stock worth $4,931,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Jefferies Financial Group reduced their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $58.00.

Bristol-Myers Squibb Trading Up 1.2%

NYSE:BMY opened at $48.42 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The business has a fifty day moving average price of $49.34 and a 200-day moving average price of $55.06. The firm has a market capitalization of $98.54 billion, a price-to-earnings ratio of -10.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the prior year, the business posted ($4.40) earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of Bristol-Myers Squibb stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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 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.