Maryland State Retirement & Pension System Buys 1,354 Shares of Bristol-Myers Squibb (NYSE:BMY)

Maryland State Retirement & Pension System grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,870 shares of the biopharmaceutical company’s stock after purchasing an additional 1,354 shares during the period. Maryland State Retirement & Pension System’s holdings in Bristol-Myers Squibb were worth $8,670,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BMY. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $34,000. Turtle Creek Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $40,000. Wetzel Investment Advisors Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $40,000. Finally, Fairman Group LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $42,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays decreased their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $0.59 during mid-day trading on Friday, reaching $39.47. The stock had a trading volume of 1,314,090 shares, compared to its average volume of 15,636,516. The firm has a market cap of $80.01 billion, a price-to-earnings ratio of -12.92, a PEG ratio of 13.71 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.38 and a 12 month high of $65.38. The business has a fifty day moving average of $42.37 and a 200 day moving average of $47.86. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.08%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

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.