Pinnacle West Asset Management Inc. Buys 467 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pinnacle West Asset Management Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,140 shares of the biopharmaceutical company’s stock after acquiring an additional 467 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb by 532.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of Bristol-Myers Squibb by 1.0% during the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after acquiring an additional 296 shares in the last quarter. Herold Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares in the last quarter. Great Diamond Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 9.2% during the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 367 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,139,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Up 0.4 %

Shares of Bristol-Myers Squibb stock traded up $0.16 on Friday, reaching $41.04. The company had a trading volume of 815,608 shares, compared to its average volume of 15,400,453. The firm has a market cap of $83.19 billion, a price-to-earnings ratio of -13.19, a P/E/G ratio of 13.96 and a beta of 0.43. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm’s 50-day moving average price is $45.75 and its two-hundred day moving average price is $49.03. Bristol-Myers Squibb has a 1 year low of $39.91 and a 1 year high of $66.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping 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 firm 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 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BMY shares. BMO Capital Markets dropped their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays dropped their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Wells Fargo & Company lifted their price objective 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, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $60.00.

Check Out Our Latest Report on BMY

About Bristol-Myers Squibb

(Free Report)

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.

Further Reading

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

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