Bristol-Myers Squibb (NYSE:BMY – Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 43,760,000 shares, a decline of 18.2% from the August 15th total of 53,510,000 shares. Based on an average daily volume of 9,890,000 shares, the short-interest ratio is presently 4.4 days. Currently, 2.1% of the shares of the company are short sold.
Analyst Ratings Changes
A number of research firms recently issued reports on BMY. Daiwa Capital Markets began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, June 28th. They set an “outperform” rating and a $70.00 price objective for the company. TD Cowen lowered their price objective on shares of Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $87.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Barclays decreased their price target on shares of Bristol-Myers Squibb from $64.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, July 28th. Finally, HSBC assumed coverage on shares of Bristol-Myers Squibb in a research report on Friday, July 14th. They issued a “reduce” rating and a $56.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.67.
Insider Buying and Selling at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the completion of the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at approximately $402,545.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Powell sold 17,986 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Security Asset Management lifted its stake in shares of Bristol-Myers Squibb by 20.3% in the first quarter. Security Asset Management now owns 9,230 shares of the biopharmaceutical company’s stock valued at $640,000 after buying an additional 1,558 shares in the last quarter. Richard P Slaughter Associates Inc lifted its stake in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Richard P Slaughter Associates Inc now owns 22,040 shares of the biopharmaceutical company’s stock valued at $1,409,000 after buying an additional 750 shares in the last quarter. Talbot Financial LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $4,482,000. Ethic Inc. lifted its stake in shares of Bristol-Myers Squibb by 26.4% in the first quarter. Ethic Inc. now owns 121,524 shares of the biopharmaceutical company’s stock valued at $8,423,000 after buying an additional 25,385 shares in the last quarter. Finally, Atlas Wealth LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $276,000. 74.98% of the stock is owned by institutional investors.
Bristol-Myers Squibb Trading Down 0.8 %
BMY opened at $59.03 on Friday. Bristol-Myers Squibb has a twelve month low of $58.86 and a twelve month high of $81.43. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. The company has a fifty day moving average of $61.62 and a 200-day moving average of $65.14. The stock has a market cap of $123.32 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.24). The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $11.81 billion. Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 7.49 EPS for the current year.
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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.