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

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 310,361 shares of the biopharmaceutical company’s stock after acquiring an additional 3,844 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bristol Myers Squibb were worth $18,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BMY. Pinney & Scofield Inc. purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the fourth quarter worth $26,000. Transce3nd LLC purchased a new stake in Bristol Myers Squibb in the fourth quarter worth $28,000. Global Wealth Strategies & Associates increased its position in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb in the first quarter worth $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president directly owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Bristol Myers Squibb Price Performance

NYSE:BMY opened at $47.36 on Tuesday. The firm has a market capitalization of $96.38 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.38 and a beta of 0.36. Bristol Myers Squibb Company has a 52-week low of $39.93 and a 52-week high of $63.33. The stock has a fifty day moving average of $47.45 and a 200 day moving average of $53.14. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned ($4.40) earnings per share. On average, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.24%. Bristol Myers Squibb’s dividend payout ratio is 92.88%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BMY shares. Jefferies Financial Group decreased their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Morgan Stanley decreased their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a research report on Thursday, July 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.69.

About Bristol Myers Squibb

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.