Maple Capital Management Inc. Invests $201,000 in Bristol-Myers Squibb (NYSE:BMY)

Maple Capital Management Inc. bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel reports. The firm bought 3,559 shares of the biopharmaceutical company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 0.6% during the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after buying an additional 170 shares during the period. Edmp Inc. grew its holdings in Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after purchasing an additional 171 shares in the last quarter. Trust Point Inc. grew its holdings in Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC grew its holdings in Bristol-Myers Squibb by 2.4% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 179 shares in the last quarter. Finally, Meridian Management Co. grew its holdings in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMY. Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $59.71 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market capitalization of $121.17 billion, a P/E ratio of -13.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. The company’s 50 day moving average price is $57.15 and its two-hundred day moving average price is $54.70. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is -56.11%.

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.