Cresset Asset Management LLC Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Cresset Asset Management LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438,528 shares of the biopharmaceutical company's stock after selling 96,514 shares during the quarter. Cresset Asset Management LLC's holdings in Bristol-Myers Squibb were worth $24,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Transce3nd LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $38,000. Finally, Tacita Capital Inc bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $39,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BMY shares. Jefferies Financial Group reduced their price target on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Citigroup increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, Truist Financial lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Stock Down 1.0 %

Shares of NYSE BMY opened at $50.05 on Tuesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock has a market cap of $101.86 billion, a P/E ratio of -11.32, a PEG ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The business's fifty day simple moving average is $55.53 and its 200-day simple moving average is $56.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company's revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned ($4.40) EPS. As a group, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb's payout ratio is 92.88%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company's stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate 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.

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