Sugarloaf Wealth Management LLC Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Sugarloaf Wealth Management LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,370 shares of the biopharmaceutical company’s stock after selling 388 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $216,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BMY. Cigna Investments Inc. New boosted its position in shares of Bristol-Myers Squibb by 0.5% during the 4th quarter. Cigna Investments Inc. New now owns 26,379 shares of the biopharmaceutical company’s stock worth $1,898,000 after acquiring an additional 141 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Bristol-Myers Squibb by 2.5% during the 1st quarter. Catalyst Financial Partners LLC now owns 6,001 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 145 shares in the last quarter. Keystone Wealth Services LLC boosted its position in Bristol-Myers Squibb by 2.0% in the first quarter. Keystone Wealth Services LLC now owns 7,468 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 148 shares in the last quarter. Dillon & Associates Inc. boosted its position in Bristol-Myers Squibb by 3.9% in the first quarter. Dillon & Associates Inc. now owns 3,955 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 150 shares in the last quarter. Finally, Abbrea Capital LLC boosted its position in Bristol-Myers Squibb by 1.5% in the first quarter. Abbrea Capital LLC now owns 10,025 shares of the biopharmaceutical company’s stock valued at $695,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 74.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Daiwa Capital Markets started coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, June 28th. They set an “outperform” rating and a $70.00 target price for the company. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. SVB Securities began coverage on shares of Bristol-Myers Squibb in a report on Monday, July 10th. They set a “market perform” rating and a $66.00 target price on the stock. TD Cowen decreased their target price on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Atlantic Securities cut their price objective on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $70.67.

Insider Activity

In related news, 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 value of $1,101,642.50. Following the sale, the executive vice president now owns 27,868 shares in the company, valued at $1,706,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the executive vice president now directly owns 6,584 shares of the company’s stock, valued at $402,545.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at $1,706,915. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.1 %

NYSE BMY traded up $0.06 during trading on Tuesday, hitting $58.64. The company had a trading volume of 4,252,494 shares, compared to its average volume of 8,974,410. 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 one year low of $58.33 and a one year high of $81.43. The company has a market cap of $122.50 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.57 and a beta of 0.42. The company’s fifty day moving average is $61.62 and its 200-day moving average is $65.11.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.24). The firm 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 for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 7.44 earnings per share 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, 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.