Procyon Advisors LLC Purchases 9,763 Shares of Bristol-Myers Squibb (NYSE:BMY)

Procyon Advisors LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 52.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,423 shares of the biopharmaceutical company's stock after acquiring an additional 9,763 shares during the period. Procyon Advisors LLC's holdings in Bristol-Myers Squibb were worth $1,733,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its stake in Bristol-Myers Squibb by 0.6% in the 4th 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. Edmp Inc. increased its holdings in shares of Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company's stock worth $2,353,000 after purchasing an additional 171 shares during the last quarter. Bedel Financial Consulting Inc. lifted its position in shares of Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company's stock worth $340,000 after buying an additional 175 shares in the last quarter. King Wealth Management Group increased its stake 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 worth $413,000 after acquiring an additional 182 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 2.3% during the 4th quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company's stock worth $467,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $48.42 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a market capitalization of $98.54 billion, a PE ratio of -10.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The stock's fifty day moving average is $49.34 and its two-hundred day moving average is $55.06. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on BMY. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Wall Street Zen cut shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Finally, Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.

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