Enterprise Bank & Trust Co Acquires New Shares in Bristol-Myers Squibb (NYSE:BMY)

Enterprise Bank & Trust Co acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,104 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

Other hedge funds also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $27,000. LGT Financial Advisors LLC grew its position in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $39,000. Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the second quarter worth approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. BMO Capital Markets restated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Trading Up 0.6 %

NYSE:BMY opened at $52.80 on Thursday. The stock has a fifty day simple moving average of $49.50 and a 200 day simple moving average of $46.34. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $107.03 billion, a price-to-earnings ratio of -17.03, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.75 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.