Cardinal Capital Management Has $3.08 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Cardinal Capital Management boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 12.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 56,860 shares of the biopharmaceutical company’s stock after buying an additional 6,210 shares during the period. Cardinal Capital Management’s holdings in Bristol-Myers Squibb were worth $3,084,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $40,000. Wetzel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $40,000. Finally, Fairman Group LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.99 during trading hours on Thursday, hitting $41.51. The stock had a trading volume of 16,967,229 shares, compared to its average volume of 15,719,265. The company has a 50-day moving average of $43.25 and a two-hundred day moving average of $48.27. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a market cap of $84.14 billion, a PE ratio of -13.56, a price-to-earnings-growth ratio of 14.28 and a beta of 0.43. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, BMO Capital Markets decreased their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.00.

Check Out Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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