Crescent Grove Advisors LLC Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Crescent Grove Advisors LLC reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 53.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,090 shares of the biopharmaceutical company’s stock after selling 5,785 shares during the period. Crescent Grove Advisors LLC’s holdings in Bristol-Myers Squibb were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Northwest Financial Advisors purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $27,000. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb in the first quarter valued at approximately $27,000. Accordant Advisory Group Inc purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $34,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.1 %

Shares of BMY traded down $0.54 during mid-day trading on Wednesday, reaching $48.44. The stock had a trading volume of 7,779,499 shares, compared to its average volume of 15,766,904. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.41. The firm has a market cap of $98.19 billion, a price-to-earnings ratio of -15.63, a P/E/G ratio of 12.51 and a beta of 0.44. The business’s fifty day moving average is $44.12 and its 200 day moving average is $46.59. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the company posted $1.75 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMY. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target on the stock. in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. BMO Capital Markets dropped their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.86.

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.