Griffin Asset Management Inc. Sells 7,441 Shares of Bristol-Myers Squibb (NYSE:BMY)

Griffin Asset Management Inc. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,173 shares of the biopharmaceutical company's stock after selling 7,441 shares during the period. Griffin Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $4,402,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BMY. Wealthspire Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 0.6% during the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company's stock worth $1,622,000 after purchasing an additional 170 shares in the last quarter. Bedel Financial Consulting Inc. boosted its holdings in Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company's stock valued at $340,000 after purchasing an additional 175 shares during the last quarter. King Wealth Management Group boosted its holdings in Bristol-Myers Squibb by 2.6% in the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company's stock valued at $413,000 after purchasing an additional 182 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock worth $1,004,000 after acquiring an additional 190 shares during the last quarter. Finally, Marcum Wealth LLC lifted its holdings in shares of Bristol-Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after acquiring an additional 193 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. UBS Group decreased their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group reduced 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 note on Wednesday, April 23rd. Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Finally, Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of "Hold" and an average target price of $58.00.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.99 on Friday, hitting $49.71. 9,394,854 shares of the company were exchanged, compared to its average volume of 12,995,538. The firm has a 50 day moving average of $48.71 and a two-hundred day moving average of $54.73. The company has a market cap of $101.15 billion, a P/E ratio of -11.25, a P/E/G ratio of 2.07 and a beta of 0.38. 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 released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the prior year, the company posted ($4.40) EPS. The company's revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 4,250 shares of the business's stock in a transaction dated Friday, April 25th. The stock was bought at an average price 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 in the company, valued at $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

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.