Agate Pass Investment Management LLC Makes New $213,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Agate Pass Investment Management LLC purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the first quarter, HoldingsChannel reports. The fund purchased 3,500 shares of the biopharmaceutical company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Transce3nd LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of Bristol-Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $47.80 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a 50 day moving average of $50.71 and a two-hundred day moving average of $55.46. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market cap of $97.27 billion, a P/E ratio of -10.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

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

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.19%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BMY shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. UBS Group decreased their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group decreased their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.00.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

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.