Scotia Capital Inc. Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Scotia Capital Inc. boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 66.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,885 shares of the biopharmaceutical company’s stock after acquiring an additional 136,425 shares during the quarter. Scotia Capital Inc.’s holdings in Bristol-Myers Squibb were worth $19,394,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp grew its holdings in Bristol-Myers Squibb by 3.9% during the 4th 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 in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at about $488,000. Inspire Trust Co. N.A. increased its position in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after acquiring an additional 29,044 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Bristol-Myers Squibb by 14.0% in the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company’s stock worth $4,451,000 after acquiring an additional 9,692 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at about $474,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 6.1 %

BMY stock opened at $50.45 on Friday. The firm’s 50-day moving average is $57.88 and its two-hundred day moving average is $56.73. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $102.66 billion, a price-to-earnings ratio of -11.41, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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%. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.92%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.