Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,034 shares of the biopharmaceutical company’s stock after purchasing an additional 353 shares during the quarter. Cardinal Capital Management’s holdings in Bristol-Myers Squibb were worth $5,375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth $25,000. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

BMY stock opened at $53.85 on Tuesday. 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 $61.10. The stock’s 50 day moving average price is $57.21 and its 200 day moving average price is $54.15. The firm has a market cap of $109.22 billion, a P/E ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. On average, sell-side analysts expect that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.61%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $57.86.

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.