Kornitzer Capital Management Inc. KS Buys 3,884 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kornitzer Capital Management Inc. KS lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 268,143 shares of the biopharmaceutical company’s stock after buying an additional 3,884 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bristol-Myers Squibb were worth $13,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,873,696,000. Moneta Group Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 114,228.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares during the period. Pacer Advisors Inc. grew its stake in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $86,965,000. Finally, Cowa LLC grew its stake in shares of Bristol-Myers Squibb by 9,777.8% during the 1st quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock valued at $1,211,000 after acquiring an additional 1,641,110 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMY. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded up $0.63 during midday trading on Friday, reaching $48.93. 10,303,913 shares of the stock traded hands, compared to its average volume of 10,788,345. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market capitalization of $99.17 billion, a PE ratio of 12.68, a P/E/G ratio of 1.46 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93. The company’s 50 day moving average is $51.23 and its 200 day moving average is $51.51.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. Bristol-Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.90%. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

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.