Bristol-Myers Squibb (NYSE:BMY) Short Interest Down 20.6% in March

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) was the recipient of 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. Approximately 1.5% of the company's shares are sold short. Based on an average daily volume of 12,090,000 shares, the days-to-cover ratio is currently 2.4 days.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of NYSE:BMY traded up $0.13 during trading on Thursday, hitting $48.66. 20,574,936 shares of the company were exchanged, compared to its average volume of 13,088,654. The firm's 50 day moving average price is $56.60 and its 200-day moving average price is $56.54. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. 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 stock has a market capitalization of $99.01 billion, a P/E ratio of -11.01, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. The firm had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. During the same period in the previous year, the company earned ($4.40) earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

Analyst Ratings Changes

BMY has been the topic of a number of research reports. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday. They issued an "overweight" rating and a $65.00 price target for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $58.00.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares of the company's stock, valued at approximately $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 SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds have recently modified their holdings of the business. Morse Asset Management Inc grew its position in Bristol-Myers Squibb by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company's stock valued at $517,000 after buying an additional 2,000 shares during the last quarter. Tudor Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $250,000. Pine Valley Investments Ltd Liability Co grew its holdings in Bristol-Myers Squibb by 1.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company's stock worth $2,323,000 after acquiring an additional 575 shares during the period. World Investment Advisors LLC raised its position in Bristol-Myers Squibb by 18.7% in the third quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company's stock worth $2,282,000 after acquiring an additional 6,954 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $1,724,000. 76.41% of the stock is currently owned by hedge funds and other 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.