Bristol-Myers Squibb (NYSE:BMY – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 20,030,000 shares, a decline of 8.1% from the September 15th total of 21,790,000 shares. Based on an average daily volume of 13,600,000 shares, the short-interest ratio is presently 1.5 days. Approximately 1.0% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.00.
Check Out Our Latest Stock Analysis on Bristol-Myers Squibb
Institutional Trading of Bristol-Myers Squibb
Bristol-Myers Squibb Price Performance
Bristol-Myers Squibb stock traded up $0.61 during mid-day trading on Wednesday, reaching $53.37. 7,623,039 shares of the company were exchanged, compared to its average volume of 14,824,158. The firm has a market cap of $108.19 billion, a PE ratio of -17.02, a PEG ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65. The company has a fifty day simple moving average of $49.97 and a 200-day simple moving average of $46.32.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.
Bristol-Myers Squibb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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