Five Oceans Advisors Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

Five Oceans Advisors acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the first quarter, HoldingsChannel reports. The fund acquired 4,509 shares of the biopharmaceutical company’s stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $25,000. Park Square Financial Group LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth about $26,000. Fairway Wealth LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter worth about $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BMY. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Wall Street Zen lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. UBS Group dropped their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Piper Sandler assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $58.00.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Stock Down 2.2%

Shares of BMY stock opened at $48.65 on Tuesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a fifty day moving average of $48.62 and a 200-day moving average of $54.63. The company has a market capitalization of $99.01 billion, a price-to-earnings ratio of -11.01, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the prior year, the business earned ($4.40) EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 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 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.