Sovereign Financial Group Inc. Has $841,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Sovereign Financial Group Inc. lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,788 shares of the biopharmaceutical company’s stock after selling 434 shares during the period. Sovereign Financial Group Inc.’s holdings in Bristol-Myers Squibb were worth $841,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates grew its holdings in Bristol-Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Transce3nd LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Finally, Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BMY shares. Jefferies Financial Group lowered their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Finally, Argus upgraded Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.00.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 4,250 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 1.2%

Shares of BMY stock opened at $48.42 on Friday. The stock has a market cap of $98.54 billion, a P/E ratio of -10.95, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The stock has a fifty day moving average price of $49.34 and a 200 day moving average price of $55.06. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

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

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.