Forum Financial Management LP Purchases 1,845 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Forum Financial Management LP lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 10.9% during the first quarter, Holdings Channel.com reports. The firm owned 18,729 shares of the biopharmaceutical company’s stock after buying an additional 1,845 shares during the period. Forum Financial Management LP’s holdings in Bristol Myers Squibb were worth $1,142,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BMY. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter worth about $26,000. Global Wealth Strategies & Associates raised its stake in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Transce3nd LLC bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the first quarter valued at $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a research report on Thursday, July 10th. UBS Group dropped their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given 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 a consensus rating of “Hold” and an average target price of $57.69.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol Myers Squibb stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Trading Up 1.9%

BMY stock opened at $48.07 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The company has a market capitalization of $97.82 billion, a PE ratio of 18.00, a P/E/G ratio of 2.43 and a beta of 0.36. The firm’s 50-day moving average is $47.45 and its 200 day moving average is $53.00. Bristol Myers Squibb Company has a 12 month low of $41.61 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share 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 business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($4.40) EPS. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 dividend yield of 5.16%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 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.