McBroom & Associates LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

McBroom & Associates LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,137 shares of the biopharmaceutical company's stock, valued at approximately $435,000.

A number of other large investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $26,000. Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $28,000. Finally, Global Wealth Strategies & Associates lifted its stake in Bristol-Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen cut Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group reduced their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $58.00.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 4,250 shares of the company's stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Down 1.9%

NYSE:BMY traded down $0.99 during trading hours on Friday, hitting $49.71. The company's stock had a trading volume of 9,394,854 shares, compared to its average volume of 12,995,538. The stock has a market capitalization of $101.15 billion, a P/E ratio of -11.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The stock has a fifty day moving average of $48.71 and a 200-day moving average of $54.73. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Bristol-Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.40) earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Company Profile

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.