Phocas Financial Corp. Invests $138,000 in Bristol-Myers Squibb (NYSE:BMY)

Phocas Financial Corp. purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,916 shares of the biopharmaceutical company’s stock, valued at approximately $138,000.

A number of other large investors also recently modified their holdings of BMY. Dakota Wealth Management acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $332,000. Covestor Ltd increased its position in shares of Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares during the period. NewEdge Advisors LLC increased its position in shares of Bristol-Myers Squibb by 53.2% during the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares during the period. Ergoteles LLC bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp increased its position in shares of Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares during the period. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ann Powell sold 11,183 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $74.69, for a total transaction of $835,258.27. Following the transaction, the executive vice president now owns 23,043 shares of the company’s stock, valued at $1,721,081.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bristol-Myers Squibb news, EVP Ann Powell sold 11,183 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.69, for a total value of $835,258.27. Following the transaction, the executive vice president now owns 23,043 shares of the company’s stock, valued at $1,721,081.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Giovanni Caforio sold 240,000 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total value of $17,916,000.00. Following the completion of the transaction, the chief executive officer now directly owns 236,104 shares in the company, valued at approximately $17,625,163.60. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $66.53 on Friday. The stock’s fifty day moving average is $70.96 and its 200-day moving average is $72.91. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.25. The stock has a market capitalization of $139.63 billion, a PE ratio of 22.55, a PEG ratio of 1.47 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $65.28 and a 52 week high of $81.43.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.71 by $0.11. Bristol-Myers Squibb had a return on equity of 51.60% and a net margin of 13.71%. The company had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $11.20 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 8.07 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, April 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 77.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BMY. Cantor Fitzgerald began coverage on Bristol-Myers Squibb in a research report on Tuesday, January 17th. They set an “overweight” rating and a $95.00 price objective on the stock. Morgan Stanley boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. Atlantic Securities boosted their price objective on Bristol-Myers Squibb from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Jefferies Financial Group began coverage on Bristol-Myers Squibb in a research report on Monday, March 6th. They issued a “hold” rating and a $62.00 price target on the stock. Finally, StockNews.com began coverage on Bristol-Myers Squibb in a research report on Thursday. They issued a “strong-buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.69.

Bristol-Myers Squibb Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.