Lake Street Advisors Group LLC Sells 4,597 Shares of Bristol-Myers Squibb (NYSE:BMY)

Lake Street Advisors Group LLC trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 34.5% during the 4th quarter, Holdings Channel reports. The firm owned 8,746 shares of the biopharmaceutical company’s stock after selling 4,597 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Bristol-Myers Squibb were worth $449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,560,524,000. Van ECK Associates Corp lifted its stake in shares of Bristol-Myers Squibb by 792.6% in the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after acquiring an additional 3,579,324 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Pacer Advisors Inc. grew its position in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Bristol-Myers Squibb by 36.7% in the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after purchasing an additional 2,510,134 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BMY shares. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Down 1.4 %

Shares of BMY stock traded down $0.59 during trading hours on Wednesday, hitting $41.16. 7,558,791 shares of the company’s stock traded hands, compared to its average volume of 15,536,854. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock’s fifty day simple moving average is $46.26 and its two-hundred day simple moving average is $49.14. Bristol-Myers Squibb has a 12-month low of $39.91 and a 12-month high of $66.38. The stock has a market cap of $83.44 billion, a price-to-earnings ratio of -13.26, a PEG ratio of 14.14 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current 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.