Signature Wealth Management Group Acquires 1,179 Shares of Bristol-Myers Squibb (NYSE:BMY)

Signature Wealth Management Group raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,162 shares of the biopharmaceutical company’s stock after acquiring an additional 1,179 shares during the quarter. Bristol-Myers Squibb makes up 1.8% of Signature Wealth Management Group’s holdings, making the stock its 15th largest holding. Signature Wealth Management Group’s holdings in Bristol-Myers Squibb were worth $4,584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Wealthspire Advisors LLC grew its position in Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after acquiring an additional 170 shares in the last quarter. Bedel Financial Consulting Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after purchasing an additional 175 shares during the last quarter. King Wealth Management Group boosted its holdings in Bristol-Myers Squibb by 2.6% in the fourth quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock worth $413,000 after purchasing an additional 182 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in Bristol-Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock valued at $1,004,000 after buying an additional 190 shares in the last quarter. Finally, Marcum Wealth LLC lifted its position in shares of Bristol-Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock worth $1,177,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $49.71 on Monday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a fifty day moving average price of $48.71 and a two-hundred day moving average price of $54.70. The firm has a market capitalization of $101.15 billion, a P/E ratio of -11.25, a P/E/G ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm posted ($4.40) EPS. As a group, analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BMY. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. UBS Group cut 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. Finally, Jefferies Financial Group dropped their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $58.00.

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.