As Bristol (BMY) Stock Rose, Chemung Canal Trust Company Has Trimmed Its Holding

September 14, 2018 - By Glen Chin

Bristol-Myers Squibb Company (NYSE:BMY) LogoInvestors sentiment decreased to 0.78 in 2018 Q2. Its down 0.05, from 0.83 in 2018Q1. It turned negative, as 94 investors sold BMY shares while 550 reduced holdings. 108 funds opened positions while 396 raised stakes. 1.14 billion shares or 1.65% more from 1.12 billion shares in 2018Q1 were reported. Greenleaf Tru holds 0.02% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY) for 16,003 shares. Allsquare Wealth Management Limited, New York-based fund reported 2,400 shares. 20,500 were reported by Gsa Partners Ltd Liability Partnership. Mcdaniel Terry & accumulated 5,450 shares. First Allied Advisory Service has 0.15% invested in Bristol-Myers Squibb Company (NYSE:BMY) for 69,686 shares. Ckw Group invested 0.02% in Bristol-Myers Squibb Company (NYSE:BMY). Texas-based Dimensional Fund Advisors Lp has invested 0.09% in Bristol-Myers Squibb Company (NYSE:BMY). Mirador Capital Prns LP reported 35,090 shares stake. Meristem Limited Liability Partnership reported 11,947 shares. State Of New Jersey Common Pension Fund D reported 0.43% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY). Meiji Yasuda Life Ins reported 0.22% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY). Tortoise Inv Mgmt Ltd Llc has invested 0.04% in Bristol-Myers Squibb Company (NYSE:BMY). Oakworth Cap stated it has 0.11% in Bristol-Myers Squibb Company (NYSE:BMY). Kanawha Cap Mngmt Lc has 67,575 shares for 0.56% of their portfolio. Howland Capital Mgmt Ltd invested in 50,992 shares or 0.23% of the stock.

Since April 30, 2018, it had 1 buying transaction, and 0 sales for $249,948 activity.

Chemung Canal Trust Company decreased its stake in Bristol (BMY) by 61.69% based on its latest 2018Q2 regulatory filing with the SEC. Chemung Canal Trust Company sold 68,435 shares as the company’s stock rose 12.85% with the market. The institutional investor held 42,494 shares of the major pharmaceuticals company at the end of 2018Q2, valued at $2.35 million, down from 110,929 at the end of the previous reported quarter. Chemung Canal Trust Company who had been investing in Bristol for a number of months, seems to be less bullish one the $99.02B market cap company. The stock decreased 0.18% or $0.11 during the last trading session, reaching $60.68. About 2.75 million shares traded. Bristol-Myers Squibb Company (NYSE:BMY) has declined 4.27% since September 14, 2017 and is downtrending. It has underperformed by 19.89% the S&P500.

Chemung Canal Trust Company, which manages about $415.35 million US Long portfolio, upped its stake in Union (NYSE:UNP) by 34,985 shares to 38,538 shares, valued at $5.46 million in 2018Q2, according to the filing.

Analysts await Bristol-Myers Squibb Company (NYSE:BMY) to report earnings on October, 25. They expect $0.89 earnings per share, up 18.67 % or $0.14 from last year’s $0.75 per share. BMY’s profit will be $1.45B for 17.04 P/E if the $0.89 EPS becomes a reality. After $1.01 actual earnings per share reported by Bristol-Myers Squibb Company for the previous quarter, Wall Street now forecasts -11.88 % negative EPS growth.

More notable recent Bristol-Myers Squibb Company (NYSE:BMY) news were published by: Seekingalpha.com which released: “Iovance updates on TIL collaborations” on August 16, 2018, also Streetinsider.com with their article: “Natera (NTRA) Enters Agreement with Bristol-Myers (BMY) for Signatera ctDNA Assay” published on September 13, 2018, Seekingalpha.com published: “Bristol-Myers Squibb’s TYK2 inhibitor successful in mid-stage psoriasis study” on September 12, 2018. More interesting news about Bristol-Myers Squibb Company (NYSE:BMY) were released by: Seekingalpha.com and their article: “Why Yervoy’s Resurgence Will Gain Momentum” published on August 27, 2018 as well as 247Wallst.com‘s news article titled: “Short Sellers Back Off Major Pharma Stocks” with publication date: September 13, 2018.

Bristol-Myers Squibb Company (NYSE:BMY) Ratings Coverage

Among 11 analysts covering Bristol Myers (NYSE:BMY), 2 have Buy rating, 0 Sell and 9 Hold. Therefore 18% are positive. Bristol Myers had 14 analyst reports since March 20, 2018 according to SRatingsIntel. Credit Suisse maintained it with “Neutral” rating and $61 target in Friday, July 27 report. On Wednesday, August 8 the stock rating was upgraded by Atlantic Securities to “Neutral”. BMO Capital Markets maintained it with “Market Perform” rating and $51 target in Monday, July 23 report. The firm has “Hold” rating by Cowen & Co given on Friday, April 20. The rating was maintained by BMO Capital Markets with “Underperform” on Wednesday, April 18. As per Friday, March 23, the company rating was maintained by Jefferies. The stock of Bristol-Myers Squibb Company (NYSE:BMY) earned “Buy” rating by Guggenheim on Tuesday, April 17. Jefferies maintained Bristol-Myers Squibb Company (NYSE:BMY) rating on Friday, April 13. Jefferies has “Hold” rating and $6600 target. As per Friday, April 27, the company rating was upgraded by BMO Capital Markets. As per Monday, May 21, the company rating was downgraded by UBS.

Bristol-Myers Squibb Company (NYSE:BMY) Institutional Positions Chart

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