Bristol Myers Squibb Company (NYSE:BMY) Shares Bought by Kinsale Capital Group Inc.

Key Points

• Kinsale Capital Group Inc. increased its holdings in Bristol Myers Squibb by 18.7%, now owning 132,090 shares valued at approximately $8,056,000.
• Bristol Myers Squibb recently reported an EPS of $1.80 for the quarter, exceeding analysts' expectations, while revenue was $11.20 billion, down 5.6% year-over-year.
• The company declared a quarterly dividend of $0.62 per share, providing an annual yield of 5.12% with a payout ratio of 92.88%.

Kinsale Capital Group Inc. boosted its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,090 shares of the biopharmaceutical company's stock after buying an additional 20,820 shares during the period. Bristol Myers Squibb accounts for about 2.0% of Kinsale Capital Group Inc.'s portfolio, making the stock its 23rd largest holding. Kinsale Capital Group Inc.'s holdings in Bristol Myers Squibb were worth $8,056,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $26,000. Transce3nd LLC acquired a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates lifted its holdings in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb in the first quarter valued at approximately $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 1.9%

NYSE:BMY traded down $0.91 during trading hours on Monday, hitting $47.52. The company's stock had a trading volume of 7,442,527 shares, compared to its average volume of 11,713,821. The stock has a market capitalization of $96.71 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.53 and a beta of 0.36. The stock has a fifty day moving average of $47.67 and a 200-day moving average of $52.53. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. Bristol Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.40) earnings per share. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.22%. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Analyst Ratings Changes

BMY has been the topic of a number of research reports. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Jefferies Financial Group decreased their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Finally, Morgan Stanley decreased their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $58.53.

Bristol Myers Squibb 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.