Providence Capital Advisors LLC raised its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,400 shares of the biopharmaceutical company’s stock after purchasing an additional 7,900 shares during the quarter. Providence Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,467,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Private Ocean LLC bought a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $28,000. James Investment Research Inc. raised its position in shares of Bristol-Myers Squibb by 36.5% during the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 219 shares during the period. Endurance Wealth Management Inc. lifted its holdings in Bristol-Myers Squibb by 119.6% in the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in Bristol-Myers Squibb by 47.4% in the first quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 300 shares during the last quarter. Finally, HMS Capital Management LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at approximately $45,000. Institutional investors own 80.27% of the company’s stock.
BMY has been the subject of several recent analyst reports. Goldman Sachs Group started coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 target price for the company. UBS Group decreased their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Argus cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target for the company. in a report on Monday, May 20th. Bank of America raised their price objective on Bristol-Myers Squibb from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Finally, ValuEngine upgraded shares of Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $55.74.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. On average, research analysts forecast that Bristol-Myers Squibb Co will post 4.28 EPS for the current fiscal year.
In other news, Director Robert J. Bertolini acquired 11,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, with a total value of $491,920.00. Following the purchase, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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