Griffin Asset Management Inc. Has $4.40 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Griffin Asset Management Inc. trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,173 shares of the biopharmaceutical company’s stock after selling 7,441 shares during the period. Griffin Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $4,402,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several equities analysts have commented on BMY shares. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. UBS Group decreased their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Trading Down 1.9%

BMY opened at $49.71 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a 50-day simple moving average of $48.71 and a 200 day simple moving average of $54.77. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $101.15 billion, a price-to-earnings ratio of -11.25, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $10.77 billion. During the same quarter in the prior year, the business posted ($4.40) earnings per share. Bristol-Myers Squibb’s revenue was down 5.6% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was purchased 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 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company 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.