Lipe & Dalton Increases Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Lipe & Dalton increased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,999 shares of the biopharmaceutical company’s stock after purchasing an additional 230 shares during the quarter. Bristol Myers Squibb makes up approximately 1.9% of Lipe & Dalton’s holdings, making the stock its 19th largest holding. Lipe & Dalton’s holdings in Bristol Myers Squibb were worth $3,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC boosted its position in shares of Bristol Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock worth $1,004,000 after purchasing an additional 190 shares during the last quarter. Marcum Wealth LLC lifted its holdings in 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 acquiring an additional 193 shares in the last quarter. Heron Bay Capital Management lifted its holdings in Bristol Myers Squibb by 2.1% during the fourth quarter. Heron Bay Capital Management now owns 10,795 shares of the biopharmaceutical company’s stock worth $611,000 after acquiring an additional 220 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in Bristol Myers Squibb by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company’s stock worth $2,968,000 after acquiring an additional 221 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its holdings in Bristol Myers Squibb by 0.8% during the fourth quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company’s stock worth $1,529,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Morgan Stanley cut their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a report on Thursday, July 10th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Jefferies Financial Group cut their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. UBS Group cut their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Argus upgraded Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.69.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by insiders.

Bristol Myers Squibb Stock Performance

NYSE BMY traded down $0.52 during trading on Friday, reaching $47.54. 1,935,345 shares of the company’s stock were exchanged, compared to its average volume of 12,757,486. The business has a 50 day moving average price of $47.45 and a 200-day moving average price of $53.00. The stock has a market capitalization of $96.75 billion, a P/E ratio of 17.82, a PEG ratio of 2.43 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. Bristol Myers Squibb Company has a fifty-two week low of $41.61 and a fifty-two week high of $63.33.

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

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.22%. Bristol Myers Squibb’s payout ratio is 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.