Maryland State Retirement & Pension System Sells 14,080 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Bristol Myers Squibb by 12.9% during the first quarter, holding 94,852 shares valued at approximately $5.79 million.
• Bristol Myers Squibb recently posted earnings per share of $1.46 for the quarter, beating expectations, with revenues of $12.27 billion exceeding analyst estimates.
• Analysts set the consensus price target for Bristol Myers Squibb at $56.38 with a majority categorizing the stock as a "hold" while analysts have recently adjusted price targets downward.

Maryland State Retirement & Pension System decreased its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 12.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 94,852 shares of the biopharmaceutical company's stock after selling 14,080 shares during the period. Maryland State Retirement & Pension System's holdings in Bristol Myers Squibb were worth $5,785,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Beacon Harbor Wealth Advisors Inc. boosted its holdings in Bristol Myers Squibb by 1,995.8% in the 1st quarter. Beacon Harbor Wealth Advisors Inc. now owns 120,320 shares of the biopharmaceutical company's stock valued at $7,338,000 after purchasing an additional 114,579 shares during the period. Keynote Financial Services LLC raised its position in shares of Bristol Myers Squibb by 1.5% in the first quarter. Keynote Financial Services LLC now owns 31,826 shares of the biopharmaceutical company's stock worth $1,941,000 after buying an additional 467 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Bristol Myers Squibb by 49.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 101,816 shares of the biopharmaceutical company's stock valued at $6,210,000 after buying an additional 33,477 shares during the period. Altfest L J & Co. Inc. grew its position in Bristol Myers Squibb by 4.8% during the first quarter. Altfest L J & Co. Inc. now owns 37,913 shares of the biopharmaceutical company's stock worth $2,312,000 after buying an additional 1,745 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Bristol Myers Squibb by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after buying an additional 306,430 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMY. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Jefferies Financial Group lowered their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Trading Up 1.3%

Shares of NYSE BMY traded up $0.60 during mid-day trading on Friday, hitting $45.96. The stock had a trading volume of 9,987,114 shares, compared to its average volume of 13,753,402. The firm has a market cap of $93.55 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The business has a 50 day moving average price of $47.32 and a two-hundred day moving average price of $51.87. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 earnings per share. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

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.