Massachusetts Financial Services Co. MA Purchases New Stake in Bristol Myers Squibb Company (NYSE:BMY)

Massachusetts Financial Services Co. MA bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 37,683 shares of the biopharmaceutical company's stock, valued at approximately $2,298,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dakota Wealth Management increased its holdings in shares of Bristol Myers Squibb by 7.0% in the first quarter. Dakota Wealth Management now owns 278,549 shares of the biopharmaceutical company's stock valued at $16,989,000 after purchasing an additional 18,256 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at approximately $338,000. Apollon Wealth Management LLC increased its holdings in shares of Bristol Myers Squibb by 3.9% in the first quarter. Apollon Wealth Management LLC now owns 89,050 shares of the biopharmaceutical company's stock valued at $5,431,000 after purchasing an additional 3,343 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Bristol Myers Squibb by 20.7% in the first quarter. Sigma Planning Corp now owns 66,619 shares of the biopharmaceutical company's stock valued at $4,063,000 after purchasing an additional 11,416 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Bristol Myers Squibb by 8.3% in the first quarter. Catalyst Financial Partners LLC now owns 8,351 shares of the biopharmaceutical company's stock valued at $509,000 after purchasing an additional 642 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of BMY stock traded up $1.37 during trading hours on Tuesday, reaching $48.06. 9,587,086 shares of the company were exchanged, compared to its average volume of 12,741,133. Bristol Myers Squibb Company has a fifty-two week low of $41.90 and a fifty-two week high of $63.33. The stock's fifty day moving average is $47.47 and its two-hundred day moving average is $52.89. The company has a market cap of $97.80 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.48 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17.

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

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Insider Activity

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a report on Thursday, July 10th. UBS Group dropped their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group reduced their target price 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. Argus raised Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $57.69.

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.