Clear Creek Financial Management LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Clear Creek Financial Management LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,963 shares of the biopharmaceutical company’s stock after selling 392 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Bristol-Myers Squibb were worth $619,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BMY. Greenwich Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth about $224,000. Fullcircle Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $211,000. AM Investment Strategies LLC increased its position in Bristol-Myers Squibb by 8.9% during the 3rd quarter. AM Investment Strategies LLC now owns 85,052 shares of the biopharmaceutical company’s stock valued at $4,401,000 after buying an additional 6,960 shares in the last quarter. Lakeside Advisors INC. purchased a new position in Bristol-Myers Squibb during the third quarter valued at $212,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in Bristol-Myers Squibb by 4.0% in the third quarter. Chicago Partners Investment Group LLC now owns 16,709 shares of the biopharmaceutical company’s stock worth $887,000 after acquiring an additional 649 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BMY shares. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $55.00 in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Stock Down 2.6 %

NYSE BMY opened at $54.32 on Monday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.20. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $110.13 billion, a P/E ratio of -15.13, a price-to-earnings-growth ratio of 15.49 and a beta of 0.44. The stock’s 50-day moving average price is $51.26 and its 200-day moving average price is $46.56.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The business 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 11.40%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

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.