Kornitzer Capital Management Inc. KS Buys 1,040 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kornitzer Capital Management Inc. KS raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 291,387 shares of the biopharmaceutical company’s stock after buying an additional 1,040 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bristol-Myers Squibb were worth $15,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb in the first quarter valued at $27,000. Valued Wealth Advisors LLC boosted its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $55.00 in a research note on Friday, October 25th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, TD Cowen lifted their price target 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. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Down 0.7 %

Shares of Bristol-Myers Squibb stock traded down $0.40 on Thursday, hitting $54.88. The company had a trading volume of 817,540 shares, compared to its average volume of 14,367,494. The stock has a market capitalization of $111.31 billion, a price-to-earnings ratio of -15.40, a P/E/G 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. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.80. The stock has a 50 day moving average of $51.69 and a 200-day moving average of $46.72.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the business earned $2.00 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.83 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Insider Buying and Selling 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 bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

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.