Cedar Brook Financial Partners LLC Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Cedar Brook Financial Partners LLC raised its position in Bristol-Myers Squibb (NYSE:BMY) by 23.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,301 shares of the biopharmaceutical company’s stock after purchasing an additional 1,930 shares during the period. Cedar Brook Financial Partners LLC’s holdings in Bristol-Myers Squibb were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $26,000. GoalVest Advisory LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth $29,000. Coppell Advisory Solutions Corp. acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $31,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $33,000. Finally, First Personal Financial Services boosted its stake in Bristol-Myers Squibb by 67.8% during the 1st quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 200 shares during the period. 74.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BMY. SVB Leerink restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, July 10th. HSBC began coverage on shares of Bristol-Myers Squibb in a research note on Friday, July 14th. They issued a “reduce” rating and a $56.00 target price for the company. BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Daiwa Capital Markets began coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, June 28th. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Morgan Stanley restated an “underweight” rating and issued a $59.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.14.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.69 during mid-day trading on Thursday, hitting $60.34. 1,686,886 shares of the company’s stock traded hands, compared to its average volume of 8,782,300. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.28 and a current ratio of 1.39. The firm’s 50 day simple moving average is $61.88 and its 200 day simple moving average is $65.33. Bristol-Myers Squibb has a 1 year low of $59.45 and a 1 year high of $81.43. The company has a market cap of $126.06 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.24). The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. Bristol-Myers Squibb had a net margin of 17.62% and a return on equity of 50.51%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 earnings per share. Sell-side analysts expect that Bristol-Myers Squibb will post 7.49 EPS for the current year.

Insider Activity

In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total value of $44,754.48. Following the sale, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at $402,545.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the sale, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.