Ipswich Investment Management Co. Inc. Sells 290 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ipswich Investment Management Co. Inc. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,305 shares of the biopharmaceutical company’s stock after selling 290 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Bristol-Myers Squibb were worth $1,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Dakota Wealth Management bought a new stake in Bristol-Myers Squibb during the first quarter worth about $332,000. Covestor Ltd raised its holdings in Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,082 shares in the last quarter. NewEdge Advisors LLC raised its stake in Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after buying an additional 57,444 shares during the period. Ergoteles LLC bought a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp raised its stake in Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after buying an additional 68,018 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of NYSE:BMY opened at $48.93 on Friday. The company has a market capitalization of $99.17 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The business’s 50 day simple moving average is $51.23 and its 200 day simple moving average is $51.47.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Analysts Set New Price Targets

Several research firms have issued reports on BMY. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $61.18.

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.