Amica Mutual Insurance Co. Sells 17,093 Shares of Bristol-Myers Squibb (NYSE:BMY)

Amica Mutual Insurance Co. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 33.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,522 shares of the biopharmaceutical company’s stock after selling 17,093 shares during the period. Amica Mutual Insurance Co.’s holdings in Bristol-Myers Squibb were worth $1,392,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb during the fourth quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $34,000. Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $42,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $47,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. TD Cowen boosted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. 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 upped their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $54.93.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded up $0.13 during trading hours on Monday, reaching $48.24. The stock had a trading volume of 4,948,545 shares, compared to its average volume of 15,620,100. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.41. The stock has a fifty day moving average of $44.38 and a 200 day moving average of $46.56. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a market cap of $97.79 billion, a P/E ratio of -15.62, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $1.75 EPS. Sell-side analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.98%. Bristol-Myers Squibb’s 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.