Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its stake in Bristol Myers Squibb Company (NYSE:BMY) by 5.9% in the 1st quarter, Holdings Channel reports. The firm owned 15,492 shares of the biopharmaceutical company’s stock after buying an additional 862 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Bristol Myers Squibb were worth $945,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bedel Financial Consulting Inc. raised its stake in shares of Bristol Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 175 shares during the last quarter. King Wealth Management Group raised its stake in shares of Bristol Myers Squibb by 2.6% during the fourth quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 182 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Bristol Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock worth $1,004,000 after buying an additional 190 shares during the last quarter. Marcum Wealth LLC raised its stake in shares of Bristol Myers Squibb by 1.0% during the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock worth $1,177,000 after buying an additional 193 shares during the last quarter. Finally, Chatham Capital Group Inc. raised its stake in shares of Bristol Myers Squibb by 0.9% during the fourth quarter. Chatham Capital Group Inc. now owns 21,795 shares of the biopharmaceutical company’s stock worth $1,233,000 after buying an additional 200 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group reduced their price target on shares of 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 investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.00.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were bought 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 of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Performance

Shares of BMY opened at $46.68 on Friday. Bristol Myers Squibb Company has a 12 month low of $39.35 and a 12 month high of $63.33. The firm has a fifty day simple moving average of $47.96 and a 200 day simple moving average of $54.02. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.38 and a beta of 0.38. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted ($4.40) earnings per share. Research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Bristol Myers Squibb Company 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.