Kendall Capital Management Purchases 2,985 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kendall Capital Management boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,632 shares of the biopharmaceutical company’s stock after acquiring 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 SEC filing.

Several other institutional investors have also added to or reduced their stakes in BMY. Swedbank AB lifted its position in Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after acquiring an additional 28,427 shares in the last quarter. Pettinga Financial Advisors LLC lifted its position in Bristol-Myers Squibb by 8.7% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 886 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Bristol-Myers Squibb by 8.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 28,164 shares of the biopharmaceutical company’s stock valued at $1,457,000 after acquiring an additional 2,255 shares in the last quarter. Graypoint LLC lifted its position in Bristol-Myers Squibb by 29.4% in the 3rd quarter. Graypoint LLC now owns 11,293 shares of the biopharmaceutical company’s stock valued at $584,000 after acquiring an additional 2,563 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Bristol-Myers Squibb by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,458,536 shares of the biopharmaceutical company’s stock worth $127,205,000 after buying an additional 102,790 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Truist Financial boosted their price target 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. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of NYSE BMY opened at $61.16 on Friday. 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 cap of $124.11 billion, a price-to-earnings ratio of -13.84, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.11. The stock has a 50-day moving average price of $57.39 and a two-hundred day moving average price of $55.13.

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

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Company 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.