Sanibel Captiva Trust Company Inc. Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sanibel Captiva Trust Company Inc. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 23.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,005 shares of the biopharmaceutical company’s stock after purchasing an additional 4,549 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Bristol-Myers Squibb were worth $997,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $27,000. Accordant Advisory Group Inc acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.32 during midday trading on Tuesday, reaching $48.98. 8,777,447 shares of the company traded hands, compared to its average volume of 15,816,809. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.41. The firm has a market capitalization of $99.29 billion, a price-to-earnings ratio of -15.90, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The company has a fifty day moving average price of $43.88 and a 200 day moving average price of $46.57.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.90%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BMY. BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen lifted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Barclays lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.86.

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.