Foundation Resource Management Inc. Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Foundation Resource Management Inc. reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,935 shares of the biopharmaceutical company’s stock after selling 3,584 shares during the quarter. Bristol-Myers Squibb makes up 1.5% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 24th largest position. Foundation Resource Management Inc.’s holdings in Bristol-Myers Squibb were worth $9,328,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC grew its holdings in shares of Bristol-Myers Squibb by 3.5% during the fourth 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 in the last quarter. Brighton Jones LLC grew its holdings in shares of Bristol-Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of Bristol-Myers Squibb by 76.4% during the fourth quarter. Silver Oak Securities Incorporated now owns 6,997 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 3,030 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $4,377,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $199,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 1.2%

NYSE BMY opened at $48.42 on Monday. The company’s fifty day simple moving average is $49.34 and its 200-day simple moving average is $55.02. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. 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 cap of $98.54 billion, a P/E ratio of -10.95, a PEG ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business 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 business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.40) earnings per share. Equities research analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group lowered their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price on the stock. Jefferies Financial Group decreased their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction 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. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

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.