Mill Creek Capital Advisors LLC Buys 464 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mill Creek Capital Advisors LLC boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,023 shares of the biopharmaceutical company’s stock after acquiring an additional 464 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ESL Trust Services LLC purchased a new position in Bristol-Myers Squibb in the first quarter valued at approximately $27,000. LGT Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth $39,000. Fairman Group LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $50.02 on Tuesday. The stock has a market cap of $101.39 billion, a price-to-earnings ratio of -16.13, a P/E/G ratio of 12.59 and a beta of 0.46. The stock’s 50-day moving average is $47.88 and its 200 day moving average is $46.38. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $59.28.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. TD Cowen lifted their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $55.00.

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.