Wedge Capital Management L L P NC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wedge Capital Management L L P NC lessened its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 99.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,014 shares of the biopharmaceutical company's stock after selling 511,384 shares during the quarter. Wedge Capital Management L L P NC's holdings in Bristol-Myers Squibb were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $26,000. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Transce3nd LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $28,000. Finally, Global Wealth Strategies & Associates raised its holdings in Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Down 1.9%

Shares of NYSE BMY traded down $0.99 during midday trading on Friday, reaching $49.71. 9,394,854 shares of the stock were exchanged, compared to its average volume of 12,995,538. 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 has a twelve month low of $39.35 and a twelve month high of $63.33. The stock has a market capitalization of $101.15 billion, a P/E ratio of -11.25, a PEG ratio of 2.07 and a beta of 0.38. The company has a 50 day simple moving average of $48.71 and a 200 day simple moving average of $54.73.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share 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 business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period last year, the business earned ($4.40) EPS. The company's revenue was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BMY shares. Jefferies Financial Group decreased their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Piper Sandler began coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Wall Street Zen downgraded Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $58.00.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

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.