Bristol-Myers Squibb (NYSE:BMY) Stake Boosted by Demars Financial Group LLC

Demars Financial Group LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 966,187 shares of the biopharmaceutical company’s stock after acquiring an additional 84,545 shares during the period. Demars Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $58,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BMY. LaFleur & Godfrey LLC lifted its stake in shares of Bristol-Myers Squibb by 3.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 1,487 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Bristol-Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $13,094,000. Ellis Investment Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 19.5% in the 4th quarter. Ellis Investment Partners LLC now owns 5,186 shares of the biopharmaceutical company’s stock valued at $293,000 after purchasing an additional 848 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its stake in shares of Bristol-Myers Squibb by 20.7% in the 4th quarter. Everhart Financial Group Inc. now owns 7,565 shares of the biopharmaceutical company’s stock valued at $428,000 after purchasing an additional 1,296 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Samit Hirawat purchased 4,250 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were acquired 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 directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $48.65 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock 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 has a 1-year low of $39.35 and a 1-year high of $63.33. The firm’s 50-day moving average price is $48.62 and its two-hundred day moving average price is $54.63.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.40) earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BMY shares. Jefferies Financial Group reduced their price objective on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler began coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $58.00.

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.