Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Crescent Grove Advisors LLC

by · The Markets Daily

Crescent Grove Advisors LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 53.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,090 shares of the biopharmaceutical company’s stock after selling 5,785 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Bristol-Myers Squibb were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. RTD Financial Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $1,579,000. Onyx Bridge Wealth Group LLC increased its position in Bristol-Myers Squibb by 4.1% during the second quarter. Onyx Bridge Wealth Group LLC now owns 16,292 shares of the biopharmaceutical company’s stock worth $677,000 after buying an additional 640 shares in the last quarter. Investment House LLC raised its holdings in shares of Bristol-Myers Squibb by 39.4% in the second quarter. Investment House LLC now owns 45,395 shares of the biopharmaceutical company’s stock worth $1,885,000 after acquiring an additional 12,825 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Bristol-Myers Squibb by 9.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 6,613 shares of the biopharmaceutical company’s stock valued at $275,000 after acquiring an additional 551 shares in the last quarter. Finally, Legacy Capital Group California Inc. boosted its stake in shares of Bristol-Myers Squibb by 76.7% during the second quarter. Legacy Capital Group California Inc. now owns 6,733 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 2,922 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price on the stock. in a research report on Monday, July 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Finally, TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $54.86.

Read Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Down 1.1 %

NYSE BMY traded down $0.54 during trading hours on Wednesday, hitting $48.44. The company had a trading volume of 7,779,499 shares, compared to its average volume of 15,766,904. The firm’s 50 day moving average is $44.12 and its 200 day moving average is $46.59. The company has a market capitalization 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. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41. 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 – Get Free Report) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 earnings per share. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. 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 4.95%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

About Bristol-Myers Squibb

(Free Report)

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.

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