Kornitzer Capital Management Inc. KS grew its position in Bristol-Myers Squibb Co (NYSE:BMY) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,985 shares of the biopharmaceutical company’s stock after acquiring an additional 31,615 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bristol-Myers Squibb were worth $12,516,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of BMY. Financial Gravity Wealth Inc. purchased a new stake in Bristol-Myers Squibb during the first quarter worth about $26,000. Private Ocean LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth about $28,000. Trust Department MB Financial Bank N A purchased a new stake in Bristol-Myers Squibb during the first quarter worth about $32,000. James Investment Research Inc. boosted its holdings in Bristol-Myers Squibb by 36.5% during the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 219 shares in the last quarter. Finally, Endurance Wealth Management Inc. boosted its holdings in Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 500 shares in the last quarter. 77.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE BMY traded up $0.04 on Wednesday, hitting $46.55. The company’s stock had a trading volume of 4,300,156 shares, compared to its average volume of 16,761,281. Bristol-Myers Squibb Co has a 12-month low of $42.48 and a 12-month high of $63.69. The stock has a market cap of $77.40 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.73. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The company has a 50 day simple moving average of $45.29.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
A number of analysts recently commented on the stock. Argus downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective on the stock. in a report on Monday, May 20th. Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a report on Tuesday, May 28th. They set a “buy” rating and a $54.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. began coverage on shares of Bristol-Myers Squibb in a report on Friday, May 3rd. They set an “overweight” rating and a $62.00 price objective on the stock. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $55.88.
In other news, insider Karen Murphy Santiago sold 3,065 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total value of $145,771.40. Following the completion of the transaction, the insider now owns 3,066 shares of the company’s stock, valued at $145,818.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Bertolini acquired 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, with a total value of $491,920.00. Following the transaction, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The disclosure for this purchase can be found here. Insiders own 0.13% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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