Krane Funds Advisors LLC Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Krane Funds Advisors LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 44.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,388 shares of the biopharmaceutical company’s stock after selling 4,330 shares during the period. Krane Funds Advisors LLC’s holdings in Bristol-Myers Squibb were worth $276,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $34,000. VisionPoint Advisory Group LLC grew its holdings in Bristol-Myers Squibb by 300.5% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 553 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several research reports. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 23rd. Wells Fargo & Company lifted their price objective on shares of 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. Barclays cut their price objective on shares of 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. BMO Capital Markets cut their price objective on shares of 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. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded down $0.28 during mid-day trading on Friday, hitting $41.20. The company’s stock had a trading volume of 14,271,103 shares, compared to its average volume of 14,094,110. The firm has a 50-day moving average price of $44.50 and a 200 day moving average price of $48.73. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a fifty-two week low of $39.91 and a fifty-two week high of $66.38.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current year.

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.