Bangor Savings Bank lowered its stake in Bristol-Myers Squibb Company (NYSE:BMY) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,910 shares of the biopharmaceutical company’s stock after selling 210 shares during the period. Bangor Savings Bank’s holdings in Bristol-Myers Squibb were worth $267,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. American National Bank boosted its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares in the last quarter. Welch Investments LLC boosted its stake in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at $116,000. State of Alaska Department of Revenue boosted its stake in shares of Bristol-Myers Squibb by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 60 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. boosted its stake in shares of Bristol-Myers Squibb by 61.8% in the first quarter. Prentiss Smith & Co. Inc. now owns 2,333 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 891 shares in the last quarter. 69.79% of the stock is owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Company (BMY) traded up 0.86% during trading on Wednesday, reaching $57.40. The company’s stock had a trading volume of 7,675,528 shares. The company’s 50-day moving average is $55.66 and its 200-day moving average is $54.52. The stock has a market cap of $94.13 billion, a PE ratio of 20.96 and a beta of 1.17. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $63.65.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. Bristol-Myers Squibb’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Equities analysts expect that Bristol-Myers Squibb Company will post $2.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.72%. Bristol-Myers Squibb’s payout ratio is 56.73%.
Several brokerages have weighed in on BMY. BidaskClub cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Leerink Swann dropped their price objective on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 28th. Vetr cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 price objective for the company. in a report on Tuesday, July 25th. Piper Jaffray Companies set a $60.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $63.33.
In related news, Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by insiders.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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