Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 353,542 shares of the biopharmaceutical company's stock after acquiring an additional 43,977 shares during the period. QRG Capital Management Inc.'s holdings in Bristol-Myers Squibb were worth $21,563,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler started coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group cut their price target on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $1.10 during trading hours on Monday, hitting $48.65. The stock had a trading volume of 14,967,837 shares, compared to its average volume of 13,003,437. The firm has a 50-day moving average price of $48.71 and a 200 day moving average price of $54.70. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm has a market capitalization of $99.01 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.38. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping 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 business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the prior year, the firm posted ($4.40) earnings per share. The company's revenue was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company's stock.

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.