Bristol-Myers Squibb (NYSE:BMY) Sees Significant Drop in Short Interest

by · The Markets Daily

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 20,030,000 shares, a drop of 8.1% from the September 15th total of 21,790,000 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily volume of 13,600,000 shares, the short-interest ratio is presently 1.5 days.

Bristol-Myers Squibb Stock Down 0.4 %

NYSE:BMY traded down $0.19 during mid-day trading on Thursday, reaching $53.18. The company’s stock had a trading volume of 7,947,385 shares, compared to its average volume of 14,789,954. The firm has a market capitalization of $107.80 billion, a PE ratio of -17.22, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The stock has a fifty day moving average of $50.10 and a 200-day moving average of $46.37. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.59.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. boosted its position in Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares in the last quarter. Paragon Capital Management LLC increased its stake in Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 222 shares during the last quarter. OmniStar Financial Group Inc. raised its holdings in Bristol-Myers Squibb by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares during the period. LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in Bristol-Myers Squibb by 18.1% during the 1st quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 236 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on BMY shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday. They set a “market perform” rating and a $56.00 price objective on the stock. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.20.

Read Our Latest Stock Analysis on Bristol-Myers Squibb

About Bristol-Myers Squibb

(Get 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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