Beacon Financial Group Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Beacon Financial Group lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,665 shares of the biopharmaceutical company’s stock after selling 2,156 shares during the period. Beacon Financial Group’s holdings in Bristol-Myers Squibb were worth $3,215,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Westside Investment Management Inc. increased its stake in Bristol-Myers Squibb by 2.9% in the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock valued at $367,000 after buying an additional 204 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in Bristol-Myers Squibb by 4.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 209 shares during the period. Chapin Davis Inc. increased its stake in Bristol-Myers Squibb by 1.2% in the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock valued at $943,000 after buying an additional 214 shares during the period. Tilson Financial Group Inc. increased its stake in Bristol-Myers Squibb by 3.7% in the 4th quarter. Tilson Financial Group Inc. now owns 6,258 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 221 shares during the period. Finally, Highland Capital Management LLC increased its stake in Bristol-Myers Squibb by 0.3% in the 4th quarter. Highland Capital Management LLC now owns 72,431 shares of the biopharmaceutical company’s stock valued at $3,716,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays dropped their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 23rd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets dropped their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Down 0.7 %

Shares of Bristol-Myers Squibb stock opened at $41.20 on Friday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a fifty-two week low of $39.91 and a fifty-two week high of $66.38. The firm has a fifty day moving average price of $44.50 and a two-hundred day moving average price of $48.73.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the prior year, the firm earned $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current year.

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.