Short Interest in Bristol-Myers Squibb (NYSE:BMY) Decreases By 20.6%

Bristol-Myers Squibb (NYSE:BMY) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 29,400,000 shares, a drop of 20.6% from the March 15th total of 37,010,000 shares. Based on an average daily volume of 12,090,000 shares, the short-interest ratio is presently 2.4 days. Currently, 1.5% of the company’s shares are short sold.

Bristol-Myers Squibb Stock Down 0.6 %

Bristol-Myers Squibb stock traded down $0.28 during mid-day trading on Monday, reaching $48.95. The stock had a trading volume of 10,338,135 shares, compared to its average volume of 12,977,783. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a market capitalization of $99.60 billion, a price-to-earnings ratio of -11.07, a PEG ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a 50-day moving average price of $56.83 and a two-hundred day moving average price of $56.64.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.07%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Analysts Set New Price Targets

Several brokerages have weighed in on BMY. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Citigroup increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.67.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the company. Citizens & Northern Corp lifted its holdings in Bristol-Myers Squibb by 1.7% in the first quarter. Citizens & Northern Corp now owns 19,442 shares of the biopharmaceutical company’s stock valued at $1,186,000 after acquiring an additional 322 shares during the period. Proathlete Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $149,000. Abundance Wealth Counselors boosted its stake in shares of Bristol-Myers Squibb by 9.5% during the 1st quarter. Abundance Wealth Counselors now owns 35,039 shares of the biopharmaceutical company’s stock worth $2,132,000 after acquiring an additional 3,052 shares during the last quarter. Good Steward Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $1,155,000. Finally, Avior Wealth Management LLC grew its holdings in Bristol-Myers Squibb by 38.9% during the first quarter. Avior Wealth Management LLC now owns 5,503 shares of the biopharmaceutical company’s stock valued at $336,000 after purchasing an additional 1,542 shares during the period. 76.41% of the stock is owned by institutional investors.

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.