Norway Savings Bank Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Norway Savings Bank decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,113 shares of the biopharmaceutical company’s stock after selling 1,040 shares during the period. Norway Savings Bank’s holdings in Bristol-Myers Squibb were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $34,000. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the second quarter worth approximately $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in Bristol-Myers Squibb during the 2nd quarter worth $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of BMY stock traded up $0.49 during trading hours on Tuesday, reaching $53.16. 4,398,295 shares of the company’s stock were exchanged, compared to its average volume of 14,829,289. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market cap of $107.76 billion, a PE ratio of -16.99, a PEG ratio of 13.75 and a beta of 0.46. The stock’s fifty day moving average price is $49.86 and its two-hundred day moving average price is $46.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Ratings Changes

Several brokerages have weighed in on BMY. UBS Group upped their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.00.

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.