Good Life Advisors LLC Has $4.70 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Good Life Advisors LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,125 shares of the biopharmaceutical company's stock after buying an additional 10,404 shares during the quarter. Good Life Advisors LLC's holdings in Bristol-Myers Squibb were worth $4,704,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BMY. Vanguard Group Inc. raised its stake in Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock valued at $10,743,262,000 after purchasing an additional 1,373,209 shares during the last quarter. Capital International Investors raised its stake in Bristol-Myers Squibb by 7.5% during 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 purchasing an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC raised its stake in Bristol-Myers Squibb by 2.7% during 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 purchasing an additional 1,187,231 shares during the last quarter. Norges Bank acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at $1,989,525,000. Finally, Ameriprise Financial Inc. raised its stake in Bristol-Myers Squibb by 59.9% during 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 purchasing an additional 12,011,983 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of Bristol-Myers Squibb stock in a transaction 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Down 2.2%

Shares of NYSE:BMY traded down $1.10 during midday trading on Monday, hitting $48.65. The stock had a trading volume of 14,967,837 shares, compared to its average volume of 13,003,429. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. 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 business's 50-day simple moving average is $48.71 and its 200-day simple moving average is $54.70. The company has a market cap of $99.01 billion, a P/E ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its 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. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same period last year, the business earned ($4.40) earnings per share. The firm's revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group lowered their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald reaffirmed 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 lowered 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, Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.