Pacific Sage Partners LLC Makes New Investment in Bristol Myers Squibb Company (NYSE:BMY)

Pacific Sage Partners LLC purchased a new position in Bristol Myers Squibb Company (NYSE:BMY) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,469 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Bristol Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares in the last quarter. Capital International Investors lifted its position in Bristol Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC lifted its position in Bristol Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank bought a new position in Bristol Myers Squibb in the 4th quarter valued at approximately $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its position in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BMY. UBS Group lowered their price objective 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 reissued a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of “Hold” and an average price target of $58.00.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $46.97 on Tuesday. The stock has a market capitalization of $95.59 billion, a PE ratio of 17.59, a P/E/G ratio of 1.39 and a beta of 0.38. The business has a 50 day simple moving average of $48.12 and a two-hundred day simple moving average of $54.21. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted ($4.40) EPS. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is 92.88%.

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.