Elevation Point Wealth Partners LLC Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Elevation Point Wealth Partners LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,643 shares of the biopharmaceutical company’s stock after selling 487 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $3,333,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BMY. LaFleur & Godfrey LLC lifted its position in shares of Bristol-Myers Squibb by 3.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock worth $2,463,000 after buying an additional 1,487 shares during the last quarter. Brighton Jones LLC increased its holdings 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 acquiring an additional 4,935 shares during the period. Sovran Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $274,000. Avestar Capital LLC increased its holdings in shares of Bristol-Myers Squibb by 31.6% in the 4th quarter. Avestar Capital LLC now owns 14,890 shares of the biopharmaceutical company’s stock valued at $842,000 after acquiring an additional 3,575 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 24.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,709 shares of the biopharmaceutical company’s stock valued at $436,000 after acquiring an additional 1,490 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. UBS Group cut their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wall Street Zen cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $49.71 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week 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’s fifty day simple moving average is $48.71 and its 200-day simple moving average is $54.77. The stock has a market cap of $101.15 billion, a PE ratio of -11.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data 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 negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period in the previous year, the firm earned ($4.40) EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the transaction, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This 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 link. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company 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.