Bristol-Myers Squibb (NYSE:BMY) Stock Position Raised by Lynch & Associates IN

Lynch & Associates IN lifted its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 82.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,041 shares of the biopharmaceutical company's stock after acquiring an additional 6,365 shares during the quarter. Lynch & Associates IN's holdings in Bristol-Myers Squibb were worth $856,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp lifted its position in Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after buying an additional 60,365 shares in the last quarter. Advyzon Investment Management LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $458,000. Polar Asset Management Partners Inc. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $16,651,000. Strategic Financial Concepts LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $4,377,000. Finally, Convergence Investment Partners LLC lifted its position in Bristol-Myers Squibb by 8.2% in the 4th quarter. Convergence Investment Partners LLC now owns 90,493 shares of the biopharmaceutical company's stock worth $5,118,000 after buying an additional 6,888 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. UBS Group dropped their price target on shares of 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. Jefferies Financial Group dropped their price target on shares of 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, Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of "Hold" and an average price target of $58.00.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 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 acquisition, the executive vice president now owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $48.65 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a market capitalization of $99.01 billion, a price-to-earnings ratio of -11.01, a P/E/G ratio of 2.07 and a beta of 0.38. The company's fifty day moving average is $48.62 and its two-hundred day moving average is $54.63. 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 quarterly earnings results 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. The company had revenue of $11.20 billion for 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 quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted ($4.40) EPS. Equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS 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.

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