First Interstate Bank Has $3.27 Million Holdings in Bristol Myers Squibb Company (NYSE:BMY)

First Interstate Bank lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 53,541 shares of the biopharmaceutical company’s stock after selling 2,129 shares during the quarter. First Interstate Bank’s holdings in Bristol Myers Squibb were worth $3,265,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BMY. Polar Asset Management Partners Inc. bought a new position in Bristol Myers Squibb during the 4th quarter worth about $16,651,000. Avaii Wealth Management LLC increased its holdings in Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after purchasing an additional 67,221 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Bristol Myers Squibb by 1.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after purchasing an additional 869 shares in the last quarter. Shorepoint Capital Partners LLC increased its holdings in Bristol Myers Squibb by 2.2% during the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Bristol Myers Squibb by 17.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company’s stock worth $33,582,000 after purchasing an additional 80,087 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. Argus upgraded Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Jefferies Financial Group reduced their price target 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 investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president owned 83,513 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Stock Up 0.7%

Shares of BMY traded up $0.33 on Wednesday, reaching $47.37. The company’s stock had a trading volume of 1,927,834 shares, compared to its average volume of 12,818,097. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $96.39 billion, a PE ratio of 17.74, a PEG ratio of 1.38 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $39.71 and a twelve month high of $63.33. The firm has a fifty day moving average of $47.65 and a 200-day moving average of $53.46.

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, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted ($4.40) EPS. Equities analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 92.88%.

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.