Bennicas Associates Lowers stake in Bristol-Myers Squibb Co (BMY)

Bristol-Myers Squibb Co (BMY) : Bennicas Associates reduced its stake in Bristol-Myers Squibb Co by 2.51% during the most recent quarter end. The investment management company now holds a total of 35,025 shares of Bristol-Myers Squibb Co which is valued at $2,652,093 after selling 900 shares in Bristol-Myers Squibb Co , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Bristol-Myers Squibb Co makes up approximately 2.33% of Bennicas Associates’s portfolio.

Other Hedge Funds, Including , Roffman Miller Associates Inc Pa reduced its stake in BMY by selling 94 shares or 0.93% in the most recent quarter. The Hedge Fund company now holds 10,009 shares of BMY which is valued at $757,881. Bristol-Myers Squibb Co makes up approx 0.12% of Roffman Miller Associates Inc Pa’s portfolio.Regentatlantic Capital reduced its stake in BMY by selling 368 shares or 2.8% in the most recent quarter. The Hedge Fund company now holds 12,761 shares of BMY which is valued at $966,263. Bristol-Myers Squibb Co makes up approx 0.09% of Regentatlantic Capital’s portfolio.Handelsbanken Fonder Ab boosted its stake in BMY in the latest quarter, The investment management firm added 23,000 additional shares and now holds a total of 141,365 shares of Bristol-Myers Squibb Co which is valued at $10,738,085. Bristol-Myers Squibb Co makes up approx 0.43% of Handelsbanken Fonder Ab’s portfolio.Vontobel Asset Management Inc reduced its stake in BMY by selling 905,279 shares or 32.2% in the most recent quarter. The Hedge Fund company now holds 1,905,800 shares of BMY which is valued at $145,946,164. Bristol-Myers Squibb Co makes up approx 1.19% of Vontobel Asset Management Inc’s portfolio.

Bristol-Myers Squibb Co opened for trading at $75.71 and hit $76.04 on the upside on Wednesday, eventually ending the session at $75.72, with a gain of 0.33% or 0.25 points. The heightened volatility saw the trading volume jump to 39,49,784 shares. Company has a market cap of $126,400 M.

On the company’s financial health, Bristol-Myers Squibb Co reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.65. The company had revenue of $4391.00 million for the quarter, compared to analysts expectations of $4268.65 million. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Bristol-Myers Squibb Co. Bristol-Myers Squibb Co was Initiated by Hilliard Lyons to “Neutral” on May 23, 2016. Company shares were Reiterated by UBS on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $73 .Company shares were Reiterated by Barclays on Apr 29, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 75 from a previous price target of $70 .

Bristol-Myers Squibb Company (BMS) is engaged in the discovery development licensing manufacturing marketing distribution and sale of biopharmaceutical products across the world. The Company’s products are sold to wholesalers retail pharmacies hospitals government entities and the medical profession. The Company manufactures its products in the United States Puerto Rico and in six foreign countries. The Company promotes the use of its products directly to healthcare professionals and providers such as doctors nurse practitioners physician assistants pharmacists technologists hospitals Pharmacy Benefit Managers (PBMs) and Managed Care Organizations (MCOs). It also provides information about the use of its products to consumers in the United States through direct-to-consumer print radio television and digital advertising and promotion. In addition the Company holds rights to F001287 which is a preclinical small-molecule IDO1-inhibitor.

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