Udine Wealth Management Inc. Has $2.28 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Udine Wealth Management Inc. increased its position in Bristol-Myers Squibb (NYSE:BMY) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,328 shares of the biopharmaceutical company’s stock after buying an additional 972 shares during the period. Bristol-Myers Squibb accounts for approximately 1.5% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Udine Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pines Wealth Management LLC lifted its stake in shares of Bristol-Myers Squibb by 8.2% in the first quarter. Pines Wealth Management LLC now owns 4,559 shares of the biopharmaceutical company’s stock valued at $278,000 after buying an additional 345 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Bristol-Myers Squibb by 13.1% in the 1st quarter. SeaCrest Wealth Management LLC now owns 27,260 shares of the biopharmaceutical company’s stock valued at $1,663,000 after acquiring an additional 3,159 shares in the last quarter. Procyon Advisors LLC boosted its stake in Bristol-Myers Squibb by 52.3% during the 1st quarter. Procyon Advisors LLC now owns 28,423 shares of the biopharmaceutical company’s stock valued at $1,733,000 after purchasing an additional 9,763 shares during the last quarter. Next Level Private LLC increased its holdings in Bristol-Myers Squibb by 1.5% during the 1st quarter. Next Level Private LLC now owns 73,234 shares of the biopharmaceutical company’s stock worth $4,467,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Insight Advisors LLC PA raised its stake in shares of Bristol-Myers Squibb by 8.9% in the first quarter. Insight Advisors LLC PA now owns 4,653 shares of the biopharmaceutical company’s stock worth $284,000 after purchasing an additional 382 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Trading Up 1.2%

Shares of BMY stock opened at $48.42 on Friday. 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 market cap of $98.54 billion, a P/E ratio of -10.95, a PEG ratio of 2.07 and a beta of 0.38. The company has a 50 day moving average of $49.34 and a 200-day moving average of $55.06. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33.

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

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average cost 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 $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BMY has been the topic of several analyst reports. UBS Group cut their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price for the company. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.