Bristol-Myers Squibb (NYSE:BMY) Short Interest Up 14.3% in October


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Bristol-Myers Squibb (NYSE:BMY) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totalling 15,710,000 shares, an increase of 14.3% from the October 15th total of 13,750,000 shares. Based on an average daily volume of 10,400,000 shares, the days-to-cover ratio is currently 1.5 days.

In other news, CEO Giovanni Caforio sold 39,840 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $62.70, for a total value of $2,497,968.00. Following the transaction, the chief executive officer now owns 445,584 shares of the company’s stock, valued at approximately $27,938,116.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fiduciary Planning LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $25,000. JCIC Asset Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 37.8% in the 2nd quarter. JCIC Asset Management Inc. now owns 620 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 170 shares in the last quarter. HBC Financial Services PLLC grew its holdings in shares of Bristol-Myers Squibb by 166.7% in the 2nd quarter. HBC Financial Services PLLC now owns 800 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 500 shares in the last quarter. Paces Ferry Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $64,000. Finally, CVA Family Office LLC grew its holdings in shares of Bristol-Myers Squibb by 118.0% in the 2nd quarter. CVA Family Office LLC now owns 1,090 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 590 shares in the last quarter. Institutional investors own 64.80% of the company’s stock.

Shares of BMY traded down $0.48 during midday trading on Friday, hitting $61.61. The stock had a trading volume of 8,305,175 shares, compared to its average volume of 13,572,248. The company has a 50 day simple moving average of $71.81 and a two-hundred day simple moving average of $81.00. Bristol-Myers Squibb has a twelve month low of $45.76 and a twelve month high of $68.34. The firm has a market cap of $139.40 billion, a price-to-earnings ratio of -560.04, a price-to-earnings-growth ratio of 1.12 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.67 and a quick ratio of 1.58.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Tuesday, November 10th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.14. Bristol-Myers Squibb had a positive return on equity of 27.48% and a negative net margin of 0.11%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the business posted $1.17 EPS. The company’s revenue for the quarter was up 75.5% on a year-over-year basis. Analysts forecast that Bristol-Myers Squibb will post 6.35 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Thursday, October 1st. Bristol-Myers Squibb’s payout ratio is 38.38%.

A number of research analysts have recently weighed in on the company. Cfra reissued a “buy” rating and issued a $70.00 price target on shares of Bristol-Myers Squibb in a research note on Sunday, July 26th. Sanford C. Bernstein reissued a “market perform” rating and issued a $72.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, November 10th. Gabelli downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Friday, November 6th. Societe Generale raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Monday, November 16th. Finally, Guggenheim raised Bristol-Myers Squibb from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, October 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $73.69.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products in the following therapeutic classes: hematology, oncology, cardiovascular, and immunology. 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 active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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