Clear Creek Financial Management LLC Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Clear Creek Financial Management LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,963 shares of the biopharmaceutical company’s stock after selling 392 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Bristol-Myers Squibb were worth $619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC increased its holdings in shares of Bristol-Myers Squibb by 30.2% in the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 3,213 shares during the last quarter. Lincoln National Corp boosted its position in shares of Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after acquiring an additional 3,052 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Bristol-Myers Squibb by 26.1% in the first quarter. Salomon & Ludwin LLC now owns 2,530 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 523 shares in the last quarter. Whittier Trust Co. increased its position in Bristol-Myers Squibb by 28.0% in the first quarter. Whittier Trust Co. now owns 88,597 shares of the biopharmaceutical company’s stock worth $4,804,000 after purchasing an additional 19,382 shares during the last quarter. Finally, Smith Salley Wealth Management lifted its position in Bristol-Myers Squibb by 100.1% during the first quarter. Smith Salley Wealth Management now owns 15,347 shares of the biopharmaceutical company’s stock valued at $832,000 after purchasing an additional 7,676 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $54.32 on Monday. The stock has a market cap of $110.13 billion, a price-to-earnings ratio of -15.13, a price-to-earnings-growth ratio of 15.49 and a beta of 0.44. The firm has a 50-day moving average of $51.26 and a two-hundred day moving average of $46.56. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.20. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 earnings per share. On average, research analysts forecast that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Analysts Set New Price Targets

BMY has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.00.

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.