Bangor Savings Bank Cuts Stock Holdings in Bristol Myers Squibb Company $BMY

Bangor Savings Bank trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,474 shares of the biopharmaceutical company’s stock after selling 380 shares during the quarter. Bangor Savings Bank’s holdings in Bristol Myers Squibb were worth $1,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Bristol Myers Squibb by 28.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,104 shares of the biopharmaceutical company’s stock valued at $422,000 after acquiring an additional 2,042 shares during the last quarter. TruWealth Advisors LLC raised its stake in shares of Bristol Myers Squibb by 23.3% during the second quarter. TruWealth Advisors LLC now owns 249,589 shares of the biopharmaceutical company’s stock valued at $11,553,000 after acquiring an additional 47,163 shares during the last quarter. Sage Capital Advisors llc raised its stake in shares of Bristol Myers Squibb by 60.7% during the second quarter. Sage Capital Advisors llc now owns 85,234 shares of the biopharmaceutical company’s stock valued at $3,946,000 after acquiring an additional 32,181 shares during the last quarter. Fiduciary Financial Group LLC raised its stake in shares of Bristol Myers Squibb by 59.7% during the second quarter. Fiduciary Financial Group LLC now owns 7,191 shares of the biopharmaceutical company’s stock valued at $342,000 after acquiring an additional 2,688 shares during the last quarter. Finally, HBW Advisory Services LLC raised its stake in shares of Bristol Myers Squibb by 9.4% during the second quarter. HBW Advisory Services LLC now owns 4,715 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 407 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the sale, the executive vice president owned 167,379 shares in the company, valued at $7,922,048.07. This represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $46.22 on Friday. The stock has a market cap of $94.08 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.43 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm’s 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $50.13.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMY. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Citigroup decreased their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, August 1st. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and a consensus target price of $56.38.

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.