Sagespring Wealth Partners LLC Has $1.32 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Sagespring Wealth Partners LLC lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 36.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,578 shares of the biopharmaceutical company’s stock after purchasing an additional 5,810 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,316,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Janney Montgomery Scott LLC raised its position in shares of Bristol-Myers Squibb by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 978,960 shares of the biopharmaceutical company’s stock worth $59,707,000 after purchasing an additional 24,233 shares during the period. Northstar Group Inc. raised its position in shares of Bristol-Myers Squibb by 5.9% during the first quarter. Northstar Group Inc. now owns 5,639 shares of the biopharmaceutical company’s stock worth $344,000 after purchasing an additional 315 shares during the period. Mission Wealth Management LP raised its position in shares of Bristol-Myers Squibb by 4.6% during the first quarter. Mission Wealth Management LP now owns 33,803 shares of the biopharmaceutical company’s stock worth $2,062,000 after purchasing an additional 1,472 shares during the period. Acropolis Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 5.3% during the first quarter. Acropolis Investment Management LLC now owns 35,796 shares of the biopharmaceutical company’s stock worth $2,183,000 after purchasing an additional 1,787 shares during the period. Finally, Good Life Advisors LLC raised its position in shares of Bristol-Myers Squibb by 15.6% during the first quarter. Good Life Advisors LLC now owns 77,125 shares of the biopharmaceutical company’s stock worth $4,704,000 after purchasing an additional 10,404 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Argus raised Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, Wall Street Zen lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.00.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $48.65 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a 50 day moving average of $48.62 and a 200-day moving average of $54.63. The company has a market capitalization of $99.01 billion, a P/E ratio of -11.01, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the company posted ($4.40) EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

About Bristol-Myers Squibb

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.