South State CORP. Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

South State CORP. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,074 shares of the biopharmaceutical company’s stock after selling 696 shares during the period. South State CORP.’s holdings in Bristol-Myers Squibb were worth $2,594,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Retirement Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $27,000. Orion Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $28,000. Perennial Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $29,000. Brand Asset Management Group Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at $31,000. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $33,000. 71.75% of the stock is owned by institutional investors.

In related news, SVP Adam Dubow sold 3,119 shares of the stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $64.21, for a total value of $200,270.99. Following the completion of the transaction, the senior vice president now directly owns 16,243 shares in the company, valued at approximately $1,042,963.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $62.20, for a total transaction of $1,555,000.00. Following the completion of the transaction, the chief executive officer now owns 528,980 shares of the company’s stock, valued at $32,902,556. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,783 shares of company stock valued at $4,770,493. 0.11% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on BMY. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price objective on shares of Bristol-Myers Squibb in a research note on Thursday, May 6th. TheStreet upgraded shares of Bristol-Myers Squibb from a “c” rating to a “b” rating in a report on Thursday, April 29th. Truist upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Truist Financial upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Finally, Truist Securities upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $74.00 in a report on Tuesday, April 13th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Bristol-Myers Squibb has an average rating of “Buy” and an average target price of $72.36.

NYSE BMY traded down $0.33 during trading on Friday, hitting $67.06. The company had a trading volume of 67,992 shares, compared to its average volume of 11,784,884. The company has a current ratio of 1.56, a quick ratio of 1.45 and a debt-to-equity ratio of 1.18. Bristol-Myers Squibb has a one year low of $54.07 and a one year high of $67.96. The firm has a market capitalization of $149.73 billion, a P/E ratio of -24.24, a price-to-earnings-growth ratio of 1.25 and a beta of 0.64. The stock has a fifty day simple moving average of $64.84.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Wednesday, April 28th. The biopharmaceutical company reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by ($0.08). The company had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a positive return on equity of 33.76% and a negative net margin of 14.53%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. As a group, equities research analysts expect that Bristol-Myers Squibb will post 7.45 EPS for the current fiscal year.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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