Bangor Savings Bank Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Bangor Savings Bank cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,854 shares of the biopharmaceutical company's stock after selling 15,191 shares during the period. Bangor Savings Bank's holdings in Bristol-Myers Squibb were worth $1,638,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $26,000. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $28,000. Transce3nd LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $28,000. Finally, Global Wealth Strategies & Associates increased its position in Bristol-Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Up 1.2%

NYSE BMY traded up $0.60 during trading hours on Monday, hitting $49.01. The company's stock had a trading volume of 9,861,388 shares, compared to its average volume of 13,044,821. The company has a market capitalization of $99.74 billion, a PE ratio of -11.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.38. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company's 50-day simple moving average is $49.34 and its two-hundred day simple moving average is $55.02.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter in the previous year, the firm earned ($4.40) earnings per share. Bristol-Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. Research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMY. Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Wall Street Zen lowered Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $58.00.

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.