Short Interest in Bristol-Myers Squibb Co (BMY) Decreases By 26.9%
Bristol-Myers Squibb Co (NYSE:BMY) was the recipient of a large decline in short interest in March. As of March 29th, there was short interest totalling 48,063,938 shares, a decline of 26.9% from the March 15th total of 65,779,147 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average trading volume of 18,357,735 shares, the days-to-cover ratio is currently 2.6 days.
Several research analysts recently commented on BMY shares. Societe Generale upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating in a research note on Tuesday, January 15th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research note on Thursday, January 3rd. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, March 5th. Credit Suisse Group restated a “hold” rating and set a $59.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, February 15th. Finally, Bank of America set a $53.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.13.
Several hedge funds have recently added to or reduced their stakes in the company. Steinberg Global Asset Management boosted its holdings in shares of Bristol-Myers Squibb by 39.4% in the 1st quarter. Steinberg Global Asset Management now owns 12,701 shares of the biopharmaceutical company’s stock valued at $803,000 after acquiring an additional 3,590 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 13.2% in the 1st quarter. Palisade Asset Management LLC now owns 12,420 shares of the biopharmaceutical company’s stock valued at $593,000 after acquiring an additional 1,450 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 13.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 12,299 shares of the biopharmaceutical company’s stock valued at $586,000 after acquiring an additional 1,478 shares during the last quarter. TIAA FSB boosted its holdings in shares of Bristol-Myers Squibb by 2.6% in the 1st quarter. TIAA FSB now owns 122,050 shares of the biopharmaceutical company’s stock valued at $5,823,000 after acquiring an additional 3,134 shares during the last quarter. Finally, Paragon Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the first quarter worth $254,000. 74.27% of the stock is currently owned by institutional investors and hedge funds.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.95 billion. Bristol-Myers Squibb had a net margin of 21.95% and a return on equity of 48.99%. Bristol-Myers Squibb’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. Research analysts forecast that Bristol-Myers Squibb will post 4.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 41.21%.
TRADEMARK VIOLATION WARNING: This piece was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://theolympiareport.com/2019/04/16/short-interest-in-bristol-myers-squibb-co-bmy-decreases-by-26-9.html.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
Read More: How Investors Use a Balance Sheet
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.