Creative Planning Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Creative Planning raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 38.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 531,970 shares of the biopharmaceutical company’s stock after purchasing an additional 148,588 shares during the quarter. Creative Planning’s holdings in Bristol-Myers Squibb were worth $22,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $39,000. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $51.74 on Tuesday. The firm has a market capitalization of $104.88 billion, a P/E ratio of -16.69, a PEG ratio of 12.96 and a beta of 0.46. The stock has a fifty day moving average price of $48.71 and a 200 day moving average price of $46.28. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $58.06. 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 (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.64%. 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

Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Barclays lifted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Jefferies Financial Group lifted their price target 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, BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $55.00.

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.