Bristol-Myers Squibb (NYSE:BMY) Short Interest Up 10.0% in November

Bristol-Myers Squibb (NYSE:BMY) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 25,770,000 shares, a growth of 10.0% from the October 31st total of 23,420,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average trading volume of 11,080,000 shares, the days-to-cover ratio is presently 2.3 days.

Insider Transactions at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Inspire Trust Co. N.A. raised its stake in shares of Bristol-Myers Squibb by 39.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Bristol-Myers Squibb by 0.3% during the 3rd quarter. Synovus Financial Corp now owns 260,181 shares of the biopharmaceutical company’s stock worth $13,462,000 after purchasing an additional 822 shares in the last quarter. Optimist Retirement Group LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth about $2,258,000. Wilmington Savings Fund Society FSB boosted its position in shares of Bristol-Myers Squibb by 85.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 159,681 shares of the biopharmaceutical company’s stock worth $8,262,000 after acquiring an additional 73,383 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $1,724,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Morgan Stanley increased their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.07.

Bristol-Myers Squibb Trading Up 1.2 %

Shares of BMY stock traded up $0.72 on Monday, reaching $59.94. 9,031,828 shares of the stock were exchanged, compared to its average volume of 14,237,022. The firm has a 50 day moving average of $54.61 and a two-hundred day moving average of $48.27. The stock has a market cap of $121.57 billion, a P/E ratio of -16.70, a price-to-earnings-growth ratio of 15.89 and a beta of 0.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the company earned $2.00 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -66.85%.

About Bristol-Myers Squibb

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.