Sterling Investment Management LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sterling Investment Management LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,538 shares of the biopharmaceutical company’s stock after selling 312 shares during the period. Bristol-Myers Squibb comprises about 1.1% of Sterling Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Sterling Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,873,696,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 114,228.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 193.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,214,000 shares of the biopharmaceutical company’s stock valued at $186,351,000 after purchasing an additional 4,755,058 shares during the period. Boston Partners boosted its holdings in Bristol-Myers Squibb by 31.1% during the first quarter. Boston Partners now owns 18,080,568 shares of the biopharmaceutical company’s stock worth $1,252,480,000 after buying an additional 4,286,479 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Bristol-Myers Squibb by 2,077.2% during the first quarter. Pacer Advisors Inc. now owns 4,049,072 shares of the biopharmaceutical company’s stock worth $280,641,000 after buying an additional 3,863,095 shares in the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HSBC assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, July 14th. They issued a “reduce” rating and a $56.00 price objective for the company. Atlantic Securities lowered their price target on Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 28th. Daiwa Capital Markets began coverage on Bristol-Myers Squibb in a research report on Wednesday, June 28th. They issued an “outperform” rating and a $70.00 price objective for the company. Credit Suisse Group decreased their target price on Bristol-Myers Squibb from $72.00 to $66.00 in a research report on Wednesday, July 12th. Finally, SVB Leerink reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.67.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY stock traded up $0.06 on Tuesday, hitting $58.64. 1,519,093 shares of the stock traded hands, compared to its average volume of 8,958,888. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.28 and a current ratio of 1.39. Bristol-Myers Squibb has a twelve month low of $58.33 and a twelve month high of $81.43. The firm’s 50-day moving average price is $61.62 and its two-hundred day moving average price is $65.11. The stock has a market capitalization of $122.50 billion, a PE ratio of 15.58, a PEG ratio of 1.57 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.24). Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts anticipate that Bristol-Myers Squibb will post 7.44 EPS for the current year.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total value of $1,101,642.50. Following the sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert M. Plenge sold 732 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the transaction, the executive vice president now directly owns 6,584 shares in the company, valued at $402,545.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.