Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,036 shares of the biopharmaceutical company’s stock after acquiring an additional 190 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Bristol-Myers Squibb were worth $2,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of BMY. Perennial Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $27,000. CVA Family Office LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $28,000. JCIC Asset Management Inc. lifted its stake in Bristol-Myers Squibb by 37.8% in the 2nd quarter. JCIC Asset Management Inc. now owns 620 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 170 shares in the last quarter. MBE Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $41,000. Finally, AlphaCore Capital LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $49,000. 72.61% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Sandra Leung sold 141,420 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $63.24, for a total transaction of $8,943,400.80. Following the completion of the sale, the executive vice president now owns 432,744 shares of the company’s stock, valued at $27,366,730.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph Eid sold 5,327 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $64.00, for a total transaction of $340,928.00. Following the sale, the senior vice president now directly owns 2,534 shares of the company’s stock, valued at approximately $162,176. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,587 shares of company stock worth $11,782,297. Insiders own 0.14% of the company’s stock.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.15. Bristol-Myers Squibb had a negative net margin of 1.61% and a positive return on equity of 28.47%. The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.04 billion. During the same period last year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was up 61.5% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb Co will post 6.24 EPS for the current fiscal year.
BMY has been the topic of several research analyst reports. Cfra reiterated a “buy” rating and issued a $70.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. Raymond James began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $75.00 price target on the stock. Bank of America restated a “buy” rating and set a $80.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, May 15th. ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Monday, June 1st. Finally, Seaport Global Securities began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, July 28th. They set an “outperform” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $69.50.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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