City Holding Co. Has $816,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

City Holding Co. lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.6% during the 1st quarter, HoldingsChannel reports. The fund owned 13,383 shares of the biopharmaceutical company’s stock after purchasing an additional 1,700 shares during the period. City Holding Co.’s holdings in Bristol-Myers Squibb were worth $816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its holdings in shares of Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Quilter Plc grew its holdings in Bristol-Myers Squibb by 56.6% during the 4th quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock worth $6,098,000 after acquiring an additional 38,977 shares during the last quarter. Advyzon Investment Management LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $458,000. Covenant Asset Management LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $279,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $16,651,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.01 on Tuesday. The firm has a market capitalization of $99.74 billion, a P/E ratio of -11.09, a P/E/G ratio of 2.07 and a beta of 0.38. The firm’s 50-day moving average price is $49.12 and its 200-day moving average price is $54.95. 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) last posted its quarterly earnings results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. The business 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 business earned ($4.40) EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. Jefferies Financial Group lowered their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. UBS Group lowered their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Finally, Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $58.00.

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.