Nepsis Inc. Makes New $13.71 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Nepsis Inc. bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 224,806 shares of the biopharmaceutical company's stock, valued at approximately $13,711,000. Bristol-Myers Squibb comprises 3.4% of Nepsis Inc.'s holdings, making the stock its 18th largest holding.

Other hedge funds also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $28,000. Transce3nd LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $28,000. Finally, Global Wealth Strategies & Associates boosted its stake in Bristol-Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMY. UBS Group cut 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. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Wall Street Zen downgraded shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Finally, Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $0.99 during trading hours on Friday, hitting $49.71. 9,394,854 shares of the company were exchanged, compared to its average volume of 13,000,634. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market capitalization of $101.15 billion, a PE ratio of -11.25, a PEG ratio of 2.07 and a beta of 0.38. The firm has a fifty day simple moving average of $48.71 and a 200-day simple moving average of $54.77. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted ($4.40) EPS. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

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.