CNB Bank Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

CNB Bank trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,461 shares of the biopharmaceutical company’s stock after selling 475 shares during the quarter. CNB Bank’s holdings in Bristol-Myers Squibb were worth $691,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. CMH Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 6.4% in the 1st quarter. CMH Wealth Management LLC now owns 70,301 shares of the biopharmaceutical company’s stock valued at $5,134,000 after purchasing an additional 4,239 shares during the last quarter. LVM Capital Management Ltd. MI raised its position in shares of Bristol-Myers Squibb by 9.2% in the 1st quarter. LVM Capital Management Ltd. MI now owns 13,910 shares of the biopharmaceutical company’s stock valued at $1,016,000 after purchasing an additional 1,170 shares during the last quarter. Guinness Asset Management LTD raised its position in shares of Bristol-Myers Squibb by 2.2% in the 1st quarter. Guinness Asset Management LTD now owns 416,515 shares of the biopharmaceutical company’s stock valued at $30,418,000 after purchasing an additional 9,164 shares during the last quarter. Parkside Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $225,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Bristol-Myers Squibb by 104.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,019 shares of the biopharmaceutical company’s stock valued at $815,000 after purchasing an additional 5,619 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at approximately $40,803,740.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sandra Leung sold 65,000 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $74.89, for a total value of $4,867,850.00. Following the completion of the transaction, the executive vice president now owns 308,627 shares in the company, valued at approximately $23,113,076.03. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Shares of NYSE BMY opened at $76.55 on Thursday. The stock has a market capitalization of $162.98 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.62 and a beta of 0.49. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $78.61. The firm’s 50 day simple moving average is $75.93 and its 200-day simple moving average is $69.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.23.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its quarterly earnings data on Friday, April 29th. The biopharmaceutical company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.04. The business had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.74 EPS. Analysts anticipate that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.82%. Bristol-Myers Squibb’s payout ratio is 76.60%.

Several brokerages recently commented on BMY. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. StockNews.com began coverage on shares of Bristol-Myers Squibb in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Bank of America increased their price objective on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 6th. Guggenheim increased their price target on shares of Bristol-Myers Squibb from $72.00 to $80.00 in a report on Monday, May 2nd. Finally, Citigroup reiterated a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.27.

About Bristol-Myers Squibb (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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

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