Bristol-Myers Squibb (NYSE:BMY) Short Interest Down 8.1% in September

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.00.

Institutional Trading of Bristol-Myers Squibb

Institutional investors and hedge funds have recently made changes to their positions in the company. Good Life Advisors LLC increased its position in shares of Bristol-Myers Squibb by 107.2% during the third quarter. Good Life Advisors LLC now owns 32,262 shares of the biopharmaceutical company’s stock valued at $1,669,000 after acquiring an additional 16,689 shares during the last quarter. Avaii Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 18.6% in the 3rd quarter. Avaii Wealth Management LLC now owns 12,120 shares of the biopharmaceutical company’s stock worth $627,000 after buying an additional 1,899 shares during the last quarter. Financial Advisors LLC bought a new position in Bristol-Myers Squibb during the third quarter valued at about $206,000. One Wealth Advisors LLC increased its holdings in Bristol-Myers Squibb by 206.9% during the third quarter. One Wealth Advisors LLC now owns 18,972 shares of the biopharmaceutical company’s stock worth $982,000 after buying an additional 12,790 shares during the last quarter. Finally, Naviter Wealth LLC raised its position in Bristol-Myers Squibb by 47.1% in the third quarter. Naviter Wealth LLC now owns 32,533 shares of the biopharmaceutical company’s stock worth $1,683,000 after acquiring an additional 10,412 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded up $0.61 during mid-day trading on Wednesday, reaching $53.37. 7,623,039 shares of the company were exchanged, compared to its average volume of 14,824,158. The firm has a market cap of $108.19 billion, a PE ratio of -17.02, a PEG ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65. The company has a fifty day simple moving average of $49.97 and a 200-day simple moving average of $46.32.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.