Bristol-Myers Squibb Co (NYSE:BMY) Sees Significant Increase in Short Interest

Bristol-Myers Squibb Co (NYSE:BMY) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 111,320,900 shares, an increase of 6.3% from the May 30th total of 104,715,000 shares. Based on an average daily trading volume, of 14,060,000 shares, the days-to-cover ratio is currently 7.9 days. Currently, 6.8% of the shares of the stock are sold short.

In other news, insider Karen Murphy Santiago sold 3,065 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $47.56, for a total transaction of $145,771.40. Following the sale, the insider now owns 3,066 shares in the company, valued at approximately $145,818.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Theodore R. Samuels II acquired 5,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were bought at an average price of $47.29 per share, for a total transaction of $236,450.00. Following the transaction, the director now owns 27,000 shares in the company, valued at approximately $1,276,830. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.

A number of institutional investors have recently made changes to their positions in BMY. FMR LLC grew its holdings in Bristol-Myers Squibb by 313.9% in the 1st quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock worth $1,949,043,000 after acquiring an additional 30,981,844 shares during the last quarter. Norges Bank bought a new stake in Bristol-Myers Squibb in the 4th quarter worth $797,038,000. Nordea Investment Management AB grew its holdings in Bristol-Myers Squibb by 380.2% in the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock worth $298,324,000 after acquiring an additional 4,950,748 shares during the last quarter. Ronna Sue Cohen grew its holdings in Bristol-Myers Squibb by 4,702.2% in the 1st quarter. Ronna Sue Cohen now owns 1,518,227 shares of the biopharmaceutical company’s stock worth $1,518,000 after acquiring an additional 1,486,612 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Bristol-Myers Squibb by 96.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,783,732 shares of the biopharmaceutical company’s stock worth $144,698,000 after acquiring an additional 1,363,900 shares during the last quarter. 77.56% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Argus cut shares of Clorox from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a research report on Tuesday, May 28th. Barclays set a $24.00 price objective on shares of Orion Engineered Carbons and gave the company a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Masonite International from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $56.22.

Shares of NYSE:BMY opened at $44.45 on Wednesday. The stock has a market cap of $72.39 billion, a PE ratio of 11.17, a PEG ratio of 2.06 and a beta of 0.71. The stock has a fifty day simple moving average of $46.34. Bristol-Myers Squibb has a 52 week low of $43.81 and a 52 week high of $63.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.79 and a current ratio of 1.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. On average, equities research analysts predict that Bristol-Myers Squibb will post 4.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Wednesday, July 3rd. Bristol-Myers Squibb’s payout ratio is presently 41.21%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. 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 moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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