Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Avanza Fonder AB

Avanza Fonder AB trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,034 shares of the biopharmaceutical company's stock after selling 26,192 shares during the period. Avanza Fonder AB's holdings in Bristol-Myers Squibb were worth $11,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Abacus FCF Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 43.3% in the first quarter. Abacus FCF Advisors LLC now owns 291,499 shares of the biopharmaceutical company's stock valued at $17,779,000 after purchasing an additional 88,141 shares during the period. Simplicity Wealth LLC purchased a new position in Bristol-Myers Squibb in the 1st quarter valued at about $265,000. GAMMA Investing LLC grew its stake in shares of Bristol-Myers Squibb by 18.8% during the first quarter. GAMMA Investing LLC now owns 39,685 shares of the biopharmaceutical company's stock valued at $2,420,000 after acquiring an additional 6,267 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Bristol-Myers Squibb by 6.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 46,927 shares of the biopharmaceutical company's stock worth $2,862,000 after acquiring an additional 3,041 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Bristol-Myers Squibb by 59.3% during the first quarter. Farther Finance Advisors LLC now owns 35,912 shares of the biopharmaceutical company's stock worth $2,139,000 after acquiring an additional 13,372 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of a number of recent analyst reports. Wall Street Zen lowered Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group decreased their price target on shares of 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. Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a report on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded up $0.52 during mid-day trading on Thursday, hitting $50.68. The stock had a trading volume of 9,327,949 shares, compared to its average volume of 13,015,800. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $103.14 billion, a price-to-earnings ratio of -11.47, a P/E/G ratio of 2.07 and a beta of 0.38. The company has a 50 day simple moving average of $48.87 and a 200-day simple moving average of $54.88.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the firm posted ($4.40) earnings per share. The business's revenue was down 5.6% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction dated Friday, April 25th. The stock was bought 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 owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company's stock.

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.