Gradient Investments LLC Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Gradient Investments LLC raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 371,587 shares of the biopharmaceutical company’s stock after acquiring an additional 45,856 shares during the period. Gradient Investments LLC’s holdings in Bristol-Myers Squibb were worth $23,763,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $26,000. GoalVest Advisory LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter worth about $29,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $31,000. Live Oak Investment Partners acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $33,000. Finally, First Personal Financial Services lifted its stake in shares of Bristol-Myers Squibb by 67.8% in the first quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY opened at $59.03 on Friday. The stock has a fifty day moving average of $61.62 and a 200-day moving average of $65.14. The firm has a market capitalization of $123.32 billion, a P/E ratio of 15.70, a PEG ratio of 1.58 and a beta of 0.42. Bristol-Myers Squibb has a 12-month low of $58.86 and a 12-month high of $81.43. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08.

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

Analyst Ratings Changes

BMY has been the topic of several research reports. Credit Suisse Group cut their price objective on Bristol-Myers Squibb from $72.00 to $66.00 in a research note on Wednesday, July 12th. Truist Financial restated a “buy” rating and set a $84.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday. Wells Fargo & Company lowered their target price on Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, July 28th. Daiwa Capital Markets initiated coverage on Bristol-Myers Squibb in a report on Wednesday, June 28th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $59.00 target price on shares of Bristol-Myers Squibb in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.67.

Insider Buying and Selling

In related news, EVP Robert M. Plenge sold 732 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the sale, the executive vice president now directly owns 6,584 shares in the company, valued at $402,545.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Bristol-Myers Squibb news, EVP Robert M. Plenge sold 732 shares of the 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, 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. 0.09% of the stock is owned by corporate insiders.

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.