Bristol-Myers Squibb (NYSE:BMY) Short Interest Update

Bristol-Myers Squibb (NYSE:BMY) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 28,010,000 shares, an increase of 6.0% from the July 31st total of 26,420,000 shares. Based on an average trading volume of 15,740,000 shares, the short-interest ratio is presently 1.8 days. Approximately 1.4% of the company’s stock are sold short.

Bristol-Myers Squibb Stock Up 1.2 %

BMY opened at $50.54 on Wednesday. The stock has a market capitalization of $102.45 billion, a P/E ratio of -16.30, a price-to-earnings-growth ratio of 12.92 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $62.00. The business’s 50-day simple moving average is $45.49 and its 200-day simple moving average is $46.56. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Large investors have recently added to or reduced their stakes in the business. Northwest Financial Advisors purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $27,000. LGT Financial Advisors LLC grew its position in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the second quarter valued at $39,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen increased their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays increased their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $54.67.

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.