Avaii Wealth Management LLC Purchases 67,221 Shares of Bristol-Myers Squibb (NYSE:BMY)

Avaii Wealth Management LLC increased its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 590.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,597 shares of the biopharmaceutical company's stock after purchasing an additional 67,221 shares during the period. Bristol-Myers Squibb comprises about 2.6% of Avaii Wealth Management LLC's investment portfolio, making the stock its 13th largest position. Avaii Wealth Management LLC's holdings in Bristol-Myers Squibb were worth $4,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $1,989,525,000. Ameriprise Financial Inc. lifted its position in shares of Bristol-Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Bristol-Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after buying an additional 10,913,708 shares during the period. Wellington Management Group LLP lifted its position in shares of Bristol-Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after buying an additional 5,827,317 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $257,618,000. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BMY shares. UBS Group cut their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group dropped their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Piper Sandler initiated coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target for the company. Wall Street Zen cut Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.00.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Trading Down 1.9%

BMY stock traded down $0.99 during midday trading on Friday, hitting $49.71. 9,394,854 shares of the company's stock were exchanged, compared to its average volume of 13,000,640. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market cap of $101.15 billion, a PE ratio of -11.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The stock's fifty day moving average price is $48.71 and its 200-day moving average price is $54.77.

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

Bristol-Myers Squibb 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.