Cidel Asset Management Inc. Has $1.19 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cidel Asset Management Inc. grew its position in Bristol-Myers Squibb (NYSE:BMY) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,980 shares of the biopharmaceutical company’s stock after purchasing an additional 1,133 shares during the period. Cidel Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Management Associates Inc bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $226,000. Shepherd Financial Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 4.7% in the fourth quarter. Shepherd Financial Partners LLC now owns 9,428 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 423 shares during the last quarter. Realta Investment Advisors acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $451,000. Golden State Wealth Management LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at $199,000. Finally, Lodestar Private Asset Management LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $257,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $56.96 on Friday. The company has a market capitalization of $115.51 billion, a price-to-earnings ratio of -15.86, a PEG ratio of 2.10 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock’s 50 day moving average is $57.61 and its 200-day moving average is $53.65.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Equities research analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.