Norway Savings Bank Has $716,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Norway Savings Bank boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,190 shares of the biopharmaceutical company’s stock after purchasing an additional 1,200 shares during the quarter. Norway Savings Bank’s holdings in Bristol-Myers Squibb were worth $716,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $26,000. GoalVest Advisory LLC purchased a new position in Bristol-Myers Squibb during the 1st quarter worth $29,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $31,000. Live Oak Investment Partners bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $33,000. Finally, First Personal Financial Services raised its stake in shares of Bristol-Myers Squibb by 67.8% during the 1st quarter. First Personal Financial Services now owns 495 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 74.98% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.46 during midday trading on Friday, hitting $59.03. 22,379,176 shares of the company’s stock were exchanged, compared to its average volume of 8,954,007. Bristol-Myers Squibb has a 12-month low of $58.86 and a 12-month high of $81.43. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 1.08. The company has a market cap of $123.32 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.58 and a beta of 0.42. The business’s fifty day moving average price is $61.62 and its two-hundred day moving average price is $65.14.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.24). The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 EPS. As a group, research analysts forecast that Bristol-Myers Squibb will post 7.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total value of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at $402,545.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Bristol-Myers Squibb news, EVP Robert M. Plenge sold 732 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $61.14, for a total value of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares in the company, valued at $402,545.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays lowered their target price on Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. Morgan Stanley restated an “underweight” rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, July 19th. HSBC initiated coverage on Bristol-Myers Squibb in a research note on Friday, July 14th. They issued a “reduce” rating and a $56.00 price objective on the stock. Credit Suisse Group lowered their price objective on Bristol-Myers Squibb from $72.00 to $66.00 in a research note on Wednesday, July 12th. Finally, SVB Securities initiated coverage on Bristol-Myers Squibb in a research note on Monday, July 10th. They issued a “market perform” rating and a $66.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $70.67.

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.