Bristol-Myers Squibb Co (BMY) Short Interest Update
Bristol-Myers Squibb Co (NYSE:BMY) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 74,111,887 shares, a growth of 21.6% from the February 15th total of 60,972,039 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average daily volume of 24,159,361 shares, the days-to-cover ratio is presently 3.1 days.
Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its position in Bristol-Myers Squibb by 34.5% during the 4th quarter. American Century Companies Inc. now owns 4,390,458 shares of the biopharmaceutical company’s stock valued at $228,216,000 after purchasing an additional 1,125,410 shares during the last quarter. Sowell Financial Services LLC raised its position in Bristol-Myers Squibb by 18.5% during the 4th quarter. Sowell Financial Services LLC now owns 16,880 shares of the biopharmaceutical company’s stock valued at $877,000 after purchasing an additional 2,641 shares during the last quarter. Norges Bank bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $797,038,000. Actinver Wealth Management Inc. bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $879,000. Finally, Griffin Asset Management Inc. raised its position in Bristol-Myers Squibb by 1.7% during the 4th quarter. Griffin Asset Management Inc. now owns 200,754 shares of the biopharmaceutical company’s stock valued at $10,435,000 after purchasing an additional 3,337 shares during the last quarter. Institutional investors own 73.35% of the company’s stock.
Shares of BMY stock opened at $49.96 on Monday. The stock has a market cap of $80.88 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.22 and a beta of 0.81. Bristol-Myers Squibb has a 1-year low of $44.30 and a 1-year high of $67.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.50.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
A number of equities analysts have recently issued reports on BMY shares. William Blair reiterated an “outperform” rating on shares of Bristol-Myers Squibb in a report on Tuesday, November 27th. BMO Capital Markets cut their price objective on Bristol-Myers Squibb to $56.00 and set a “market perform” rating for the company in a report on Tuesday, November 27th. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Friday, December 7th. Credit Suisse Group reiterated a “hold” rating and issued a $59.00 price objective on shares of Bristol-Myers Squibb in a report on Thursday, December 13th. Finally, Morgan Stanley set a $54.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.40.
About Bristol-Myers Squibb
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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