Redmile Group LLC Grows Holdings in Bristol-Myers Squibb Co (NYSE:BMY)

Redmile Group LLC boosted its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 87.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,599,700 shares of the biopharmaceutical company’s stock after purchasing an additional 745,000 shares during the quarter. Bristol-Myers Squibb comprises about 2.2% of Redmile Group LLC’s portfolio, making the stock its 16th biggest position. Redmile Group LLC’s holdings in Bristol-Myers Squibb were worth $76,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Bristol-Myers Squibb by 5.9% in the fourth quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock valued at $445,300,000 after buying an additional 474,820 shares during the last quarter. Chescapmanager LLC grew its holdings in shares of Bristol-Myers Squibb by 22.1% during the fourth quarter. Chescapmanager LLC now owns 361,755 shares of the biopharmaceutical company’s stock worth $18,804,000 after purchasing an additional 65,367 shares during the last quarter. Perella Weinberg Partners Capital Management LP grew its holdings in shares of Bristol-Myers Squibb by 10.9% during the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 1,905 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of Bristol-Myers Squibb by 30.7% during the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock worth $10,331,000 after purchasing an additional 50,798 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $73,000. Institutional investors own 77.54% of the company’s stock.

In related news, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $47.56, for a total transaction of $145,771.40. Following the completion of the sale, the insider now owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodore R. Samuels II acquired 5,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average cost of $47.29 per share, with a total value of $236,450.00. Following the transaction, the director now owns 27,000 shares in the company, valued at $1,276,830. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

Shares of Bristol-Myers Squibb stock opened at $47.56 on Monday. The stock has a market capitalization of $77.79 billion, a PE ratio of 11.95, a P/E/G ratio of 2.22 and a beta of 0.74. The company has a current ratio of 1.93, a quick ratio of 1.79 and a debt-to-equity ratio of 0.37. Bristol-Myers Squibb Co has a 1 year low of $44.30 and a 1 year high of $63.69.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 EPS. Sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.18 earnings per share for the current year.

A number of equities analysts recently issued reports on BMY shares. BMO Capital Markets reissued a “buy” rating and set a $59.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, February 19th. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, March 5th. Goldman Sachs Group started coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They set a “buy” rating and a $54.00 price target on the stock. Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target on the stock. in a report on Monday, May 20th. Finally, Bank of America lowered their price target on Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $56.34.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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