Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Eastern Bank

Eastern Bank grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 715.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 45,290 shares of the biopharmaceutical company’s stock after acquiring an additional 39,735 shares during the quarter. Eastern Bank’s holdings in Bristol-Myers Squibb were worth $2,343,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BMY. Global Assets Advisory LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $5,161,000. Sunbelt Securities Inc. boosted its position in Bristol-Myers Squibb by 19.1% during the 1st quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after acquiring an additional 1,614 shares during the period. RMR Wealth Builders boosted its position in Bristol-Myers Squibb by 9.8% during the 1st quarter. RMR Wealth Builders now owns 5,805 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 517 shares during the period. Brookstone Capital Management boosted its position in Bristol-Myers Squibb by 36.4% during the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $83,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $52.76 on Wednesday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.77. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $106.95 billion, a price-to-earnings ratio of -17.02, a P/E/G ratio of 13.75 and a beta of 0.46. The stock’s fifty day simple moving average is $50.53 and its 200-day simple moving average is $46.35.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Jefferies Financial Group boosted their price objective on 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 reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Company Profile

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.