Richard P Slaughter Associates Inc Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Richard P Slaughter Associates Inc grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,040 shares of the biopharmaceutical company’s stock after purchasing an additional 750 shares during the period. Richard P Slaughter Associates Inc’s holdings in Bristol-Myers Squibb were worth $1,409,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BMY. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $1,873,696,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 114,228.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 193.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,214,000 shares of the biopharmaceutical company’s stock worth $186,351,000 after purchasing an additional 4,755,058 shares during the last quarter. Boston Partners boosted its stake in shares of Bristol-Myers Squibb by 31.1% during the 1st quarter. Boston Partners now owns 18,080,568 shares of the biopharmaceutical company’s stock worth $1,252,480,000 after purchasing an additional 4,286,479 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 2,077.2% during the 1st quarter. Pacer Advisors Inc. now owns 4,049,072 shares of the biopharmaceutical company’s stock worth $280,641,000 after acquiring an additional 3,863,095 shares during the period. 74.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction 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 transaction, the executive vice president now owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the transaction, the executive vice president now owns 6,584 shares of the company’s stock, valued at $402,545.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BMY. HSBC began coverage on shares of Bristol-Myers Squibb in a report on Friday, July 14th. They set a “reduce” rating and a $56.00 price objective on the stock. Atlantic Securities cut their price objective on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. Morgan Stanley reiterated an “underweight” rating and set a $59.00 price objective on shares of Bristol-Myers Squibb in a report on Wednesday, July 19th. SVB Leerink reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, July 10th. Finally, Cantor Fitzgerald cut their price objective on shares of Bristol-Myers Squibb from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.77.

Bristol-Myers Squibb Stock Down 0.3 %

BMY stock opened at $59.49 on Friday. The company has a market capitalization of $124.28 billion, a P/E ratio of 15.82, a PEG ratio of 1.58 and a beta of 0.42. The firm has a 50 day simple moving average of $61.78 and a 200-day simple moving average of $65.29. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. Bristol-Myers Squibb has a twelve month low of $59.28 and a twelve month high of $81.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. On average, equities research analysts predict that Bristol-Myers Squibb will post 7.49 earnings per share for the current fiscal year.

Bristol-Myers Squibb Profile

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.