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

Mill Creek Capital Advisors LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 62.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $28,000. Valued Wealth Advisors LLC grew its position in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the last quarter. Finally, LGT Financial Advisors LLC grew its position 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 buying an additional 227 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 3.9 %

BMY stock opened at $56.22 on Monday. The stock’s 50 day simple moving average is $52.73 and its 200 day simple moving average is $47.27. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market cap of $114.02 billion, a P/E ratio of -15.66, a price-to-earnings-growth ratio of 15.23 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping 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 period in the prior year, the business earned $2.00 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BMY shares. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday. They issued a “peer perform” rating on the stock. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Citigroup upped their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, UBS Group boosted 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. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.07.

Insider Buying and Selling

In related news, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

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.