Bristol Stock- Bristol-Myers Squibb (NYSE:BMY) Sees Significant Decline in Short Interest
Bristol-Myers Squibb (NYSE:BMY) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 16,860,000 shares, a decline of 33.0% from the March 15th total of 25,160,000 shares. Based on an average trading volume of 12,620,000 shares, the days-to-cover ratio is presently 1.3 days.
Shares of Bristol-Myers Squibb stock traded up $1.02 during trading on Friday, hitting $65.46. The stock had a trading volume of 14,587,995 shares, compared to its average volume of 12,447,142. The firm has a market cap of $146.23 billion, a price-to-earnings ratio of -595.85, a P/E/G ratio of 1.00 and a beta of 0.67. Bristol-Myers Squibb has a 12 month low of $54.07 and a 12 month high of $67.16. The business’s 50-day moving average is $62.10 and its 200 day moving average is $64.82. The company has a current ratio of 1.67, a quick ratio of 1.58 and a debt-to-equity ratio of 0.82.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.04. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The company had revenue of $11.07 billion for the quarter, compared to analysts’ expectations of $10.74 billion. During the same period in the prior year, the business earned $1.22 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 39.3% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.35 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Thursday, April 1st will be paid a $0.49 dividend. The ex-dividend date is Wednesday, March 31st. This represents a $1.96 dividend on an annualized basis and a yield of 2.99%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.79%.
A number of brokerages have commented on BMY. Truist Securities upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $74.00 in a research note on Tuesday. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, April 6th. TheStreet lowered Bristol-Myers Squibb from a “b” rating to a “c” rating in a report on Monday, March 8th. Truist Financial raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Truist upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $74.06.
In related news, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $62.20, for a total transaction of $1,555,000.00. Following the transaction, the chief executive officer now directly owns 528,980 shares of the company’s stock, valued at $32,902,556. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 27.4% during the 4th quarter. Principal Financial Group Inc. now owns 4,684,936 shares of the biopharmaceutical company’s stock valued at $290,607,000 after buying an additional 1,006,280 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of Bristol-Myers Squibb by 2.8% in the 4th quarter. Eaton Vance Management now owns 3,468,699 shares of the biopharmaceutical company’s stock worth $215,163,000 after acquiring an additional 93,349 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 15.0% in the 4th quarter. Bessemer Group Inc. now owns 2,639,320 shares of the biopharmaceutical company’s stock valued at $163,716,000 after purchasing an additional 343,869 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Bristol-Myers Squibb by 2.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,579,666 shares of the biopharmaceutical company’s stock valued at $160,017,000 after purchasing an additional 69,438 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its position in Bristol-Myers Squibb by 18.6% in the 4th quarter. AMF Pensionsforsakring AB now owns 2,475,546 shares of the biopharmaceutical company’s stock worth $153,747,000 after purchasing an additional 387,874 shares during the period. 72.41% of the stock is owned by hedge funds and other institutional investors.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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