Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,985 shares of the biopharmaceutical company’s stock after selling 270 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Bristol-Myers Squibb were worth $1,034,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth approximately $25,000. Hollencrest Capital Management raised its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $27,000. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $28,000. Finally, Valued Wealth Advisors LLC increased its holdings in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BMY shares. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday. BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Friday. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $56.22 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market cap of $114.02 billion, a PE ratio of -15.66, a P/E/G ratio of 15.83 and a beta of 0.44. The stock has a fifty day moving average price of $52.73 and a 200 day moving average price of $47.23. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $2.00 EPS. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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.