Kornitzer Capital Management Inc. KS Acquires 15,130 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kornitzer Capital Management Inc. KS raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,517 shares of the biopharmaceutical company's stock after purchasing an additional 15,130 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Bristol-Myers Squibb were worth $17,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 107.9% in the 4th quarter. Venturi Wealth Management LLC now owns 6,025 shares of the biopharmaceutical company's stock worth $341,000 after acquiring an additional 3,127 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Bristol-Myers Squibb by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 386,277 shares of the biopharmaceutical company's stock worth $21,848,000 after acquiring an additional 7,343 shares during the last quarter. Citizens & Northern Corp lifted its holdings in shares of Bristol-Myers Squibb by 35.7% in the 4th quarter. Citizens & Northern Corp now owns 19,120 shares of the biopharmaceutical company's stock worth $1,081,000 after acquiring an additional 5,026 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Finally, Wealth Quarterback LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.4% in the 4th quarter. Wealth Quarterback LLC now owns 18,927 shares of the biopharmaceutical company's stock worth $1,071,000 after acquiring an additional 443 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of NYSE:BMY traded up $0.06 during midday trading on Friday, reaching $55.85. The company's stock had a trading volume of 11,100,311 shares, compared to its average volume of 10,886,042. The firm has a market capitalization of $113.33 billion, a P/E ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. The firm has a 50 day moving average of $56.99 and a 200-day moving average of $54.30. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

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

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a $0.62 dividend. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. Bristol-Myers Squibb's payout ratio is presently -56.11%.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. Bank of America reissued a "neutral" rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Leerink Partners raised shares of Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of "Hold" and an average price target of $57.86.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on 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 purchase, the executive vice president now owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company 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.