Mill Creek Capital Advisors LLC Sells 9,989 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mill Creek Capital Advisors LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 62.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,034 shares of the biopharmaceutical company’s stock after selling 9,989 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares during the period. Graypoint LLC grew its holdings in Bristol-Myers Squibb by 29.4% during the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after purchasing an additional 2,563 shares during the period. Xponance Inc. grew its holdings in Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares during the period. Finally, Plato Investment Management Ltd grew its holdings in Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after purchasing an additional 21,041 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMY. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Citigroup increased their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley increased their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE BMY opened at $56.22 on Monday. The stock’s 50-day simple moving average is $52.73 and its two-hundred day simple moving average is $47.27. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $114.02 billion, a price-to-earnings ratio of -15.66, a PEG ratio of 15.23 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the business posted $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. Bristol-Myers Squibb’s payout ratio is -66.85%.

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.