CX Institutional Trims Position in Bristol-Myers Squibb (NYSE:BMY)

CX Institutional lessened its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,845 shares of the biopharmaceutical company's stock after selling 8,445 shares during the quarter. CX Institutional's holdings in Bristol-Myers Squibb were worth $7,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. Vanguard Group Inc. lifted its position in Bristol-Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after buying an additional 1,373,209 shares in the last quarter. Capital International Investors boosted its holdings in Bristol-Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after purchasing an additional 3,218,865 shares during the period. Geode Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock valued at $2,505,967,000 after purchasing an additional 1,187,231 shares during the period. Norges Bank acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its holdings in 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 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 analysts recently issued reports on the company. Wall Street Zen lowered Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group cut their price objective on 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. Finally, Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $58.00.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Trading Down 1.9%

Shares of NYSE:BMY traded down $0.99 during trading on Friday, hitting $49.71. 9,394,854 shares of the company's stock were exchanged, compared to its average volume of 12,995,538. The firm has a market cap of $101.15 billion, a P/E ratio of -11.25, a PEG ratio of 2.07 and a beta of 0.38. The firm has a 50-day moving average price of $48.71 and a two-hundred day moving average price of $54.77. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The business 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 firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($4.40) earnings per share. Equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

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.