Bristol-Myers Squibb Co (BMY) Short Interest Update
Bristol-Myers Squibb Co (NYSE:BMY) was the target of a significant drop in short interest during the month of March. As of March 29th, there was short interest totalling 48,063,938 shares, a drop of 26.9% from the March 15th total of 65,779,147 shares. Based on an average daily volume of 18,357,735 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.9% of the company’s shares are short sold.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Bristol-Myers Squibb by 1.0% during the third quarter. Vanguard Group Inc. now owns 128,376,159 shares of the biopharmaceutical company’s stock worth $7,969,593,000 after purchasing an additional 1,229,553 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Bristol-Myers Squibb by 1.0% during the third quarter. Vanguard Group Inc now owns 128,376,159 shares of the biopharmaceutical company’s stock worth $7,969,593,000 after purchasing an additional 1,229,553 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Bristol-Myers Squibb by 0.9% during the fourth quarter. BlackRock Inc. now owns 115,573,078 shares of the biopharmaceutical company’s stock worth $6,007,489,000 after purchasing an additional 999,193 shares in the last quarter. Dodge & Cox lifted its stake in shares of Bristol-Myers Squibb by 0.8% during the third quarter. Dodge & Cox now owns 32,969,186 shares of the biopharmaceutical company’s stock worth $2,046,727,000 after purchasing an additional 264,100 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Bristol-Myers Squibb by 4.4% during the fourth quarter. Northern Trust Corp now owns 22,576,884 shares of the biopharmaceutical company’s stock worth $1,173,547,000 after purchasing an additional 954,877 shares in the last quarter. Institutional investors own 74.27% of the company’s stock.
BMY has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, March 5th. BMO Capital Markets reiterated a “buy” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a report on Thursday, January 3rd. Credit Suisse Group reiterated a “hold” rating and issued a $59.00 target price on shares of Bristol-Myers Squibb in a report on Friday, February 15th. Bank of America reduced their target price on Bristol-Myers Squibb from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, February 19th. Finally, Morgan Stanley set a $54.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Thursday, December 20th. 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 stock currently has a consensus rating of “Hold” and a consensus price target of $59.13.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, January 24th. The biopharmaceutical company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a return on equity of 48.99% and a net margin of 21.95%. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Bristol-Myers Squibb will post 4.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 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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