Kornitzer Capital Management Inc. KS Buys 8,768 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kornitzer Capital Management Inc. KS boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,347 shares of the biopharmaceutical company’s stock after acquiring an additional 8,768 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bristol-Myers Squibb were worth $12,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital International Investors increased its stake in shares of Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Primecap Management Co. CA increased its stake in shares of Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after purchasing an additional 1,246,066 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock valued at $586,999,000 after purchasing an additional 1,840,424 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BMY shares. Deutsche Bank Aktiengesellschaft cut their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Finally, Barclays raised their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Trading Down 1.2 %

Shares of NYSE:BMY traded down $0.60 during midday trading on Thursday, reaching $49.36. The company’s stock had a trading volume of 2,491,447 shares, compared to its average volume of 15,289,416. The firm has a market capitalization of $100.06 billion, a price-to-earnings ratio of -16.11, a PEG ratio of 12.92 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a 50 day moving average price of $45.64 and a two-hundred day moving average price of $46.59. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.42.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the company posted $1.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.