Bristol-Myers Squibb (NYSE:BMY) is Abacus FCF Advisors LLC's 7th Largest Position

Abacus FCF Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 43.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,499 shares of the biopharmaceutical company's stock after purchasing an additional 88,141 shares during the quarter. Bristol-Myers Squibb makes up 2.8% of Abacus FCF Advisors LLC's holdings, making the stock its 7th largest position. Abacus FCF Advisors LLC's holdings in Bristol-Myers Squibb were worth $17,779,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Transce3nd LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates increased its position 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 during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler started coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price for the company. Wall Street Zen downgraded shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, Jefferies Financial Group cut their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.52 during mid-day trading on Thursday, hitting $50.68. 9,327,949 shares of the company were exchanged, compared to its average volume of 13,015,800. The stock has a 50 day simple moving average of $48.87 and a 200-day simple moving average of $54.88. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market cap of $103.14 billion, a price-to-earnings ratio of -11.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38.

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

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% 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 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.