Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,601 shares of the biopharmaceutical company's stock after purchasing an additional 9,166 shares during the quarter. Merit Financial Group LLC's holdings in Bristol-Myers Squibb were worth $3,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Transce3nd LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates grew its holdings in Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several recent analyst reports. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Finally, Argus raised Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Two 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Stock Up 1.2%

Shares of Bristol-Myers Squibb stock traded up $0.58 on Friday, hitting $48.42. 9,231,487 shares of the company's stock traded hands, compared to its average volume of 13,057,598. 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's 50-day moving average is $49.34 and its 200 day moving average is $55.02. The stock has a market cap of $98.54 billion, a P/E ratio of -10.95, a PEG ratio of 2.07 and a beta of 0.38. 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 issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business's revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($4.40) earnings per share. Equities analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased 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 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.