Fagan Associates Inc. Has $3.20 Million Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Fagan Associates Inc. increased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 743.5% during the first quarter, Holdings Channel.com reports. The fund owned 52,522 shares of the biopharmaceutical company’s stock after buying an additional 46,295 shares during the period. Fagan Associates Inc.’s holdings in Bristol Myers Squibb were worth $3,203,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the 4th quarter worth about $26,000. Transce3nd LLC purchased a new position in Bristol Myers Squibb in the fourth quarter worth $28,000. Global Wealth Strategies & Associates boosted its position 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 worth $29,000 after purchasing an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb during the 1st quarter valued at approximately $31,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Down 0.8%

Shares of BMY traded down $0.38 during midday trading on Monday, hitting $46.98. The stock had a trading volume of 1,151,682 shares, compared to its average volume of 13,389,141. Bristol Myers Squibb Company has a 1 year low of $41.90 and a 1 year high of $63.33. The firm has a market cap of $95.61 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. 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 stock’s 50 day moving average is $47.47 and its 200 day moving average is $52.89.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently announced 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 5.28%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is 92.88%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on BMY. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. UBS Group decreased their target price on shares of 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. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $57.69.

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.