Bristol-Myers Squibb (NYSE:BMY) Position Reduced by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 23.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,890 shares of the biopharmaceutical company’s stock after selling 1,200 shares during the period. Crescent Grove Advisors LLC’s holdings in Bristol-Myers Squibb were worth $201,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the third quarter worth $25,000. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth about $27,000. Valued Wealth Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $34,000. Finally, LGT Financial Advisors LLC raised its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BMY shares. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Barclays upped their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $55.28 on Thursday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.80. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a fifty day moving average price of $51.69 and a two-hundred day moving average price of $46.72. The firm has a market cap of $112.12 billion, a P/E ratio of -15.40, a PEG ratio of 13.14 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the company earned $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.83 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

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.