First Bank & Trust Sells 36,386 Shares of Bristol Myers Squibb Company $BMY

Key Points

• First Bank & Trust reduced its stake in Bristol Myers Squibb by 56.2% during the second quarter, selling 36,386 shares and retaining 28,331 shares valued at approximately $1.31 million.
• Several hedge funds have increased their positions in Bristol Myers Squibb, with Byrne Asset Management growing its holdings by 72.0%, and the overall institutional ownership now standing at 76.41%.
• Recent analyst downgrades have affected Bristol Myers Squibb's ratings, with Citigroup and Daiwa Capital Markets adjusting their target prices and outlooks, indicating a shift from strong-buy to hold ratings.

First Bank & Trust cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 56.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,331 shares of the biopharmaceutical company's stock after selling 36,386 shares during the period. First Bank & Trust's holdings in Bristol Myers Squibb were worth $1,311,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Byrne Asset Management LLC grew its holdings in Bristol Myers Squibb by 72.0% during the second quarter. Byrne Asset Management LLC now owns 2,148 shares of the biopharmaceutical company's stock worth $99,000 after purchasing an additional 899 shares during the period. Czech National Bank raised its stake in Bristol Myers Squibb by 6.7% in the second quarter. Czech National Bank now owns 497,446 shares of the biopharmaceutical company's stock valued at $23,027,000 after buying an additional 31,344 shares during the period. Range Financial Group LLC lifted its position in shares of Bristol Myers Squibb by 6.0% in the second quarter. Range Financial Group LLC now owns 55,280 shares of the biopharmaceutical company's stock valued at $2,559,000 after buying an additional 3,140 shares during the last quarter. Little House Capital LLC boosted its stake in shares of Bristol Myers Squibb by 31.6% during the 2nd quarter. Little House Capital LLC now owns 25,028 shares of the biopharmaceutical company's stock worth $1,159,000 after acquiring an additional 6,009 shares during the period. Finally, Next Level Private LLC increased its holdings in shares of Bristol Myers Squibb by 3.2% during the 2nd quarter. Next Level Private LLC now owns 75,599 shares of the biopharmaceutical company's stock worth $3,499,000 after acquiring an additional 2,365 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP David V. Elkins sold 56,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total value of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on BMY. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Citigroup reduced their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa America downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of BMY stock opened at $46.34 on Tuesday. The business has a fifty day simple moving average of $47.07 and a 200 day simple moving average of $49.98. The company has a market cap of $94.32 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.36 and a beta of 0.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The business's revenue for the quarter was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal 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.

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