Bank of Nova Scotia Buys 116,513 Shares of Bristol-Myers Squibb (NYSE:BMY)

Bank of Nova Scotia increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 25.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 581,750 shares of the biopharmaceutical company's stock after acquiring an additional 116,513 shares during the period. Bank of Nova Scotia's holdings in Bristol-Myers Squibb were worth $32,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $28,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $34,000. Westend Capital Management LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $38,000. Tacita Capital Inc purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at about $39,000. Finally, M Holdings Securities Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company's stock.

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Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $1.41 during trading on Tuesday, hitting $49.93. The company had a trading volume of 5,643,236 shares, compared to its average volume of 12,127,878. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a market cap of $101.60 billion, a P/E ratio of -11.30, a PEG ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business's 50-day moving average is $57.54 and its 200 day moving average is $56.78.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's payout ratio is currently -56.11%.

Analyst Ratings Changes

BMY has been the topic of a number of research analyst reports. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of "Hold" and an average target price of $57.67.

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.