Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. increased its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 1,476.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,859 shares of the biopharmaceutical company's stock after acquiring an additional 127,239 shares during the quarter. Bristol-Myers Squibb makes up about 1.7% of Contravisory Investment Management Inc.'s investment portfolio, making the stock its 23rd largest position. Contravisory Investment Management Inc.'s holdings in Bristol-Myers Squibb were worth $8,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Apella Capital LLC boosted its position in Bristol-Myers Squibb by 58.4% during the 1st quarter. Apella Capital LLC now owns 9,367 shares of the biopharmaceutical company's stock valued at $571,000 after acquiring an additional 3,454 shares in the last quarter. Triangle Securities Wealth Management raised its position in shares of Bristol-Myers Squibb by 2.5% in the 1st quarter. Triangle Securities Wealth Management now owns 17,180 shares of the biopharmaceutical company's stock worth $1,048,000 after acquiring an additional 413 shares in the last quarter. Viking Fund Management LLC lifted its stake in shares of Bristol-Myers Squibb by 45.7% during the 1st quarter. Viking Fund Management LLC now owns 318,700 shares of the biopharmaceutical company's stock worth $19,438,000 after purchasing an additional 100,000 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its position in Bristol-Myers Squibb by 1.4% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 228,404 shares of the biopharmaceutical company's stock valued at $13,939,000 after purchasing an additional 3,139 shares in the last quarter. Finally, Bremer Bank National Association bought a new position in Bristol-Myers Squibb in the first quarter worth about $200,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.12 during midday trading on Thursday, reaching $47.84. The company's stock had a trading volume of 12,733,151 shares, compared to its average volume of 13,061,223. 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 stock has a fifty day moving average of $49.82 and a 200 day moving average of $55.19. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The firm has a market capitalization of $97.35 billion, a PE ratio of -10.82, a P/E/G ratio of 2.07 and a beta of 0.39.

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

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Piper Sandler began coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $58.00.

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.