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

Sagespring Wealth Partners LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 36.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 21,578 shares of the biopharmaceutical company’s stock after buying 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 reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at $1,989,525,000. Ameriprise Financial Inc. raised its holdings in Bristol-Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after acquiring an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP raised its holdings in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $257,618,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Argus raised Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Piper Sandler assumed coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target for the company. Finally, Wall Street Zen cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.00.

Bristol-Myers Squibb Trading Down 2.2%

Shares of BMY stock opened at $48.65 on Tuesday. The stock has a market cap of $99.01 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.38. The stock has a 50-day moving average of $48.62 and a 200-day moving average of $54.63. 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 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released 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 business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter last year, the firm posted ($4.40) earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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.