RMB Capital Management LLC Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

RMB Capital Management LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 80.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,944 shares of the biopharmaceutical company’s stock after selling 52,439 shares during the quarter. RMB Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $817,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Retirement Group LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Perennial Advisors LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $29,000. Brand Asset Management Group Inc. purchased a new position in Bristol-Myers Squibb during the 1st quarter valued at about $31,000. Finally, Alpha DNA Investment Management LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $33,000. 71.75% of the stock is owned by institutional investors.

Shares of BMY stock opened at $67.39 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.56 and a debt-to-equity ratio of 1.18. Bristol-Myers Squibb has a fifty-two week low of $54.07 and a fifty-two week high of $67.96. The company has a 50 day moving average of $64.84. The company has a market capitalization of $150.47 billion, a P/E ratio of -24.24, a P/E/G ratio of 1.25 and a beta of 0.64.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Wednesday, April 28th. The biopharmaceutical company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.08). Bristol-Myers Squibb had a negative net margin of 14.53% and a positive return on equity of 33.76%. The company had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 7.45 EPS for the current year.

A number of research analysts have weighed in on BMY shares. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, April 6th. Truist Financial raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Morgan Stanley reissued an “equal weight” rating and set a $62.00 price objective on shares of Bristol-Myers Squibb in a report on Thursday, May 6th. Truist Securities raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $74.00 in a report on Tuesday, April 13th. Finally, TheStreet raised Bristol-Myers Squibb from a “c” rating to a “b” rating in a report on Thursday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $72.36.

In related news, SVP Joseph Eid sold 1,118 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $65.00, for a total transaction of $72,670.00. Following the completion of the transaction, the senior vice president now owns 8,069 shares in the company, valued at $524,485. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Giovanni Caforio sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $62.20, for a total value of $1,555,000.00. Following the transaction, the chief executive officer now owns 528,980 shares of the company’s stock, valued at approximately $32,902,556. The disclosure for this sale can be found here. Insiders sold 74,783 shares of company stock valued at $4,770,493 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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

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