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

Crescent Grove Advisors LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,349 shares of the biopharmaceutical company’s stock after acquiring an additional 459 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Bristol-Myers Squibb were worth $246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in Bristol-Myers Squibb by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,681,594 shares of the biopharmaceutical company’s stock worth $69,837,000 after purchasing an additional 40,605 shares in the last quarter. Algert Global LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $328,000. Doheny Asset Management CA purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $372,000. Creative Planning lifted its stake in Bristol-Myers Squibb by 38.8% in the second quarter. Creative Planning now owns 531,970 shares of the biopharmaceutical company’s stock valued at $22,093,000 after buying an additional 148,588 shares during the last quarter. Finally, Silver Lake Advisory LLC boosted its stake in Bristol-Myers Squibb by 1.2% during the 2nd quarter. Silver Lake Advisory LLC now owns 29,350 shares of the biopharmaceutical company’s stock worth $1,219,000 after purchasing an additional 344 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY opened at $59.68 on Monday. The firm has a market cap of $121.05 billion, a P/E ratio of -16.63, a PEG ratio of 2.02 and a beta of 0.45. The company has a 50 day simple moving average of $57.47 and a two-hundred day simple moving average of $52.62. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. UBS Group upped their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.27.

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.