Grimes & Company Inc. Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Grimes & Company Inc. raised its position in Bristol-Myers Squibb (NYSE:BMY) by 10.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 380,641 shares of the biopharmaceutical company’s stock after purchasing an additional 35,677 shares during the period. Grimes & Company Inc.’s holdings in Bristol-Myers Squibb were worth $20,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $34,000. VisionPoint Advisory Group LLC increased its stake in shares of Bristol-Myers Squibb by 300.5% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 553 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.0 %

Shares of BMY traded up $0.02 during midday trading on Friday, hitting $41.53. The company had a trading volume of 20,542,742 shares, compared to its average volume of 15,934,426. The company’s 50-day simple moving average is $42.97 and its 200-day simple moving average is $48.14. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a market capitalization of $84.19 billion, a P/E ratio of -13.40, a P/E/G ratio of 14.20 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.78%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

About Bristol-Myers Squibb

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.