Kornitzer Capital Management Inc. KS Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Kornitzer Capital Management Inc. KS boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,387 shares of the biopharmaceutical company’s stock after purchasing an additional 1,040 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Bristol-Myers Squibb were worth $15,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of BMY. Deseret Mutual Benefit Administrators grew its position in Bristol-Myers Squibb by 5.8% during the third quarter. Deseret Mutual Benefit Administrators now owns 11,981 shares of the biopharmaceutical company’s stock worth $620,000 after buying an additional 655 shares in the last quarter. Montecito Bank & Trust grew its holdings in shares of Bristol-Myers Squibb by 2.7% during the third quarter. Montecito Bank & Trust now owns 12,224 shares of the biopharmaceutical company’s stock worth $632,000 after purchasing an additional 323 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Bristol-Myers Squibb by 4.4% in the third quarter. Principal Financial Group Inc. now owns 2,458,536 shares of the biopharmaceutical company’s stock worth $127,205,000 after purchasing an additional 102,790 shares during the last quarter. Graypoint LLC raised its stake in Bristol-Myers Squibb by 29.4% in the third quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after purchasing an additional 2,563 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in Bristol-Myers Squibb by 8.7% during the third quarter. Concurrent Investment Advisors LLC now owns 28,164 shares of the biopharmaceutical company’s stock valued at $1,457,000 after purchasing an additional 2,255 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of research analyst reports. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Citigroup lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.00.

Bristol-Myers Squibb Trading Down 0.7 %

NYSE:BMY traded down $0.40 during midday trading on Thursday, reaching $54.88. 817,540 shares of the stock traded hands, compared to its average volume of 14,367,494. The stock has a market capitalization of $111.31 billion, a P/E ratio of -15.40, a PEG ratio of 13.14 and a beta of 0.44. 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 fifty day moving average of $51.69 and a 200 day moving average of $46.72. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.80.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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. The company had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 0.83 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.37%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Phil M. Holzer sold 700 shares of the firm’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 completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb 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.