Curbstone Financial Management Corp Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Curbstone Financial Management Corp raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,946 shares of the biopharmaceutical company’s stock after buying an additional 2,612 shares during the quarter. Curbstone Financial Management Corp’s holdings in Bristol-Myers Squibb were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth about $1,989,525,000. Ameriprise Financial Inc. boosted its holdings in shares of Bristol-Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $257,618,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were purchased 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 owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BMY. 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 note on Wednesday, April 23rd. Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. UBS Group lowered their price target 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. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Up 1.9%

Shares of NYSE:BMY opened at $49.96 on Wednesday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market capitalization of $101.66 billion, a P/E ratio of -11.30, a P/E/G ratio of 2.07 and a beta of 0.38. The stock has a 50 day moving average price of $48.97 and a 200-day moving average price of $54.92.

Bristol-Myers Squibb (NYSE:BMY) last released its 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. 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 previous year, the company posted ($4.40) earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

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.