First Interstate Bank Sells 1,977 Shares of Bristol-Myers Squibb (NYSE:BMY)

First Interstate Bank lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,625 shares of the biopharmaceutical company’s stock after selling 1,977 shares during the period. First Interstate Bank’s holdings in Bristol-Myers Squibb were worth $2,393,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $5,161,000. Lincoln National Corp raised its holdings in Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares during the period. Chapin Davis Inc. lifted its stake in Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $755,000. Finally, Scotia Capital Inc. raised its holdings in shares of Bristol-Myers Squibb by 48.6% during the fourth quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock worth $12,146,000 after acquiring an additional 77,471 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $48.50 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.42. The company has a market capitalization of $98.33 billion, a price-to-earnings ratio of -15.65, a PEG ratio of 12.62 and a beta of 0.46. The company has a 50-day simple moving average of $46.09 and a 200 day simple moving average of $46.53. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BMY. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Finally, TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.67.

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.