Salem Investment Counselors Inc. Sells 570 Shares of Bristol-Myers Squibb (NYSE:BMY)

Salem Investment Counselors Inc. reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,638 shares of the biopharmaceutical company’s stock after selling 570 shares during the period. Salem Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp raised its stake in Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after buying an additional 60,365 shares in the last quarter. Advyzon Investment Management LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $458,000. Covenant Asset Management LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $279,000. Polar Asset Management Partners Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $16,651,000. Finally, Strategic Financial Concepts LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $4,377,000. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $47.58 per share, for a total transaction 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 document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Trading Down 1.9%

NYSE:BMY opened at $49.71 on Friday. The company’s 50 day moving average price is $48.71 and its 200-day moving average price is $54.77. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market cap of $101.15 billion, a price-to-earnings ratio of -11.25, a PEG ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating 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 firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the prior year, the company posted ($4.40) earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. UBS Group cut their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $58.00.

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.