Ipswich Investment Management Lowers stake in Bristol-Myers Squibb Co (BMY)

Bristol-Myers Squibb Co (BMY) : Ipswich Investment Management reduced its stake in Bristol-Myers Squibb Co by 5.14% during the most recent quarter end. The investment management company now holds a total of 29,892 shares of Bristol-Myers Squibb Co which is valued at $2,235,922 after selling 1,620 shares in Bristol-Myers Squibb Co , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Bristol-Myers Squibb Co makes up approximately 1.09% of Ipswich Investment Management’s portfolio.

Other Hedge Funds, Including , Becker Capital Management Inc boosted its stake in BMY in the latest quarter, The investment management firm added 445 additional shares and now holds a total of 4,607 shares of Bristol-Myers Squibb Co which is valued at $344,604. Bristol-Myers Squibb Co makes up approx 0.01% of Becker Capital Management Inc’s portfolio.Legacy Private Trust boosted its stake in BMY in the latest quarter, The investment management firm added 1,060 additional shares and now holds a total of 29,412 shares of Bristol-Myers Squibb Co which is valued at $2,234,136. Bristol-Myers Squibb Co makes up approx 0.32% of Legacy Private Trust’s portfolio.

Bristol-Myers Squibb Co closed down -2.98 points or -4.71% at $60.3 with 6,01,32,826 shares getting traded on Monday. Post opening the session at $63.5, the shares hit an intraday low of $60 and an intraday high of $63.6514 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Bristol-Myers Squibb Co reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.66. The company had revenue of $4881.00 million for the quarter, compared to analysts expectations of $4657.63 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on Bristol-Myers Squibb Co. Credit Suisse Downgraded Bristol-Myers Squibb Co on Aug 8, 2016 to ” Neutral”, Price Target of the shares are set at $63.Shares were Reiterated by Deutsche Bank on Aug 8, 2016 to “Hold” and Lowered the Price Target to $ 62 from a previous price target of $68 .Bristol-Myers Squibb Co was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 5, 2016.

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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