Investors Buy High Volume of Put Options on Bristol-Myers Squibb (BMY)
Bristol-Myers Squibb Company (NYSE:BMY) saw unusually large options trading on Wednesday. Stock investors acquired 781 put options on the company. This is an increase of 117% compared to the average volume of 360 put options.
Bristol-Myers Squibb (NYSE:BMY) opened at $62.22 on Friday. The company has a market capitalization of $101.85 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.46 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. Bristol-Myers Squibb had a return on equity of 32.41% and a net margin of 20.56%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. equities analysts expect that Bristol-Myers Squibb will post 2.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.51%. Bristol-Myers Squibb’s payout ratio is 61.42%.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at $2,777,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BMY. Renaissance Technologies LLC grew its stake in shares of Bristol-Myers Squibb by 108.5% during the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after acquiring an additional 7,020,200 shares during the period. Franklin Resources Inc. grew its stake in shares of Bristol-Myers Squibb by 185.2% during the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after acquiring an additional 3,960,191 shares during the period. Jennison Associates LLC grew its stake in shares of Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after acquiring an additional 3,735,453 shares during the period. Janus Henderson Group PLC grew its stake in shares of Bristol-Myers Squibb by 2,990.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after acquiring an additional 3,516,536 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Bristol-Myers Squibb by 42,071.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after acquiring an additional 3,323,649 shares during the period. Institutional investors own 68.93% of the company’s stock.
BMY has been the topic of a number of research reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Vetr lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 price target for the company. in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Finally, UBS Group AG (USA) reissued a “buy” rating and issued a $72.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.93.
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About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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