Trading Report: Today, 2,951 Shares of Bristol-Myers Squibb Co. (BMY) are sold by Arrow Financial Corp

Today, 2,951 Shares of Bristol-Myers Squibb Co. (BMY) are sold by Arrow Financial Corp

Arrow Financial Corp reduced its position in shares of Bristol-Myers Squibb Co. (NYSE:BMY) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,902 shares of the biopharmaceutical company’s stock after selling 2,951 shares during the period. Arrow Financial Corp’s holdings in Bristol-Myers Squibb were worth $2,744,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock worth $8,057,758,000 after buying an additional 3,595,648 shares during the period. Jennison Associates LLC raised its position in Bristol-Myers Squibb by 4.1% in the second quarter. Jennison Associates LLC now owns 28,064,140 shares of the biopharmaceutical company’s stock worth $2,064,118,000 after buying an additional 1,099,210 shares during the period. BlackRock Fund Advisors raised its position in Bristol-Myers Squibb by 2.9% in the second quarter. BlackRock Fund Advisors now owns 23,780,943 shares of the biopharmaceutical company’s stock worth $1,749,088,000 after buying an additional 659,425 shares during the period. Janus Capital Management LLC raised its position in Bristol-Myers Squibb by 5.2% in the second quarter. Janus Capital Management LLC now owns 21,937,539 shares of the biopharmaceutical company’s stock worth $1,613,481,000 after buying an additional 1,094,167 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Bristol-Myers Squibb by 10.4% in the second quarter. TIAA CREF Investment Management LLC now owns 11,447,146 shares of the biopharmaceutical company’s stock worth $841,938,000 after buying an additional 1,075,075 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.41% during trading on Friday, reaching $56.98. The company’s stock had a trading volume of 6,228,571 shares. Bristol-Myers Squibb Co. has a 52-week low of $49.03 and a 52-week high of $77.12. The firm has a market capitalization of $95.23 billion, a price-to-earnings ratio of 28.50 and a beta of 0.90. The stock’s 50-day moving average is $52.69 and its 200 day moving average is $63.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.12. The firm earned $4.83 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bristol-Myers Squibb had a return on equity of 28.98% and a net margin of 18.54%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. On average, analysts predict that Bristol-Myers Squibb Co. will post $2.85 EPS for the current fiscal year.

BMY has been the topic of several research analyst reports. Jefferies Group restated a “hold” rating and set a $58.00 target price (up from $54.00) on shares of Bristol-Myers Squibb in a research report on Monday, October 31st. BMO Capital Markets restated a “market perform” rating and set a $60.00 target price on shares of Bristol-Myers Squibb in a research report on Saturday, September 3rd. SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $68.00 in a research report on Friday, August 5th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $58.77 target price on the stock. in a research report on Monday, November 7th. Finally, Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their target price for the stock from $80.00 to $70.00 in a research report on Thursday, August 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $67.51.

In related news, Director Lamberto Andreotti sold 21,600 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the sale, the director now directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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