Douglas Lane & Associates LLC Sells 48,110 Shares of Bristol-Myers Squibb (NYSE:BMY)

Douglas Lane & Associates LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,666,159 shares of the biopharmaceutical company's stock after selling 48,110 shares during the period. Bristol-Myers Squibb accounts for about 1.5% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 15th largest position. Douglas Lane & Associates LLC owned approximately 0.08% of Bristol-Myers Squibb worth $101,619,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BMY. Pinney & Scofield Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $26,000. Global Wealth Strategies & Associates boosted its stake in shares of Bristol-Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Finally, Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Bristol-Myers Squibb Price Performance

BMY traded up $0.04 during midday trading on Thursday, reaching $47.99. 5,792,131 shares of the company's stock were exchanged, compared to its average volume of 13,339,901. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. 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 business has a 50-day simple moving average of $49.82 and a two-hundred day simple moving average of $55.19. The firm has a market capitalization of $97.66 billion, a price-to-earnings ratio of -10.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released 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 firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the prior year, the company posted ($4.40) earnings per share. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BMY shares. Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of "Hold" and an average target price of $58.00.

Bristol-Myers Squibb 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.