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.

Shares of Bristol-Myers Squibb stock opened at $46.50 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Bristol-Myers Squibb has a 12-month low of $44.30 and a 12-month high of $63.69. The company has a market cap of $75.25 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 2.37 and a beta of 0.79.

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%.

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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.

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