Cardinal Capital Management Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cardinal Capital Management boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.8% during the first quarter, Holdings Channel.com reports. The firm owned 97,659 shares of the biopharmaceutical company’s stock after acquiring an additional 2,625 shares during the period. Cardinal Capital Management’s holdings in Bristol-Myers Squibb were worth $5,956,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LaFleur & Godfrey LLC raised its stake in shares of Bristol-Myers Squibb by 3.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock valued at $2,463,000 after acquiring an additional 1,487 shares during the period. Brighton Jones LLC raised its stake in shares of Bristol-Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after acquiring an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $13,094,000. Ellis Investment Partners LLC raised its stake in shares of Bristol-Myers Squibb by 19.5% in the fourth quarter. Ellis Investment Partners LLC now owns 5,186 shares of the biopharmaceutical company’s stock valued at $293,000 after acquiring an additional 848 shares during the period. Finally, Everhart Financial Group Inc. raised its stake in shares of Bristol-Myers Squibb by 20.7% in the fourth quarter. Everhart Financial Group Inc. now owns 7,565 shares of the biopharmaceutical company’s stock valued at $428,000 after acquiring an additional 1,296 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BMY. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group reduced their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Stock Down 2.2%

Shares of Bristol-Myers Squibb stock opened at $48.65 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm’s 50-day moving average is $48.62 and its two-hundred day moving average is $54.63. The stock has a market cap of $99.01 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The company had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period in the prior year, the business earned ($4.40) EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

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.