Kendall Capital Management Has $2.69 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Kendall Capital Management grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,632 shares of the biopharmaceutical company’s stock after purchasing an additional 2,985 shares during the quarter. Kendall Capital Management’s holdings in Bristol-Myers Squibb were worth $2,694,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp grew its position in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $488,000. Inspire Trust Co. N.A. lifted its stake in shares of Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after buying an additional 34,418 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMY. Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley raised their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $57.86.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $61.16 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a market cap of $124.11 billion, a P/E ratio of -13.84, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a 50 day simple moving average of $57.39 and a 200 day simple moving average of $55.13. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.11.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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%. Sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.