Bristol Myers Squibb Company (NYSE:BMY) Sees Significant Decline in Short Interest

Bristol Myers Squibb Company (NYSE:BMY) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 29,894,882 shares, a drop of 19.1% from the January 15th total of 36,975,176 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 12,741,067 shares, the short-interest ratio is presently 2.3 days. Based on an average daily trading volume, of 12,741,067 shares, the short-interest ratio is presently 2.3 days. Currently, 1.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMY. Vanguard Group Inc. increased its position in Bristol Myers Squibb by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 198,727,768 shares of the biopharmaceutical company’s stock valued at $10,719,376,000 after buying an additional 2,743,759 shares in the last quarter. State Street Corp raised its position in Bristol Myers Squibb by 1.4% during the 4th quarter. State Street Corp now owns 97,980,438 shares of the biopharmaceutical company’s stock worth $5,285,065,000 after buying an additional 1,385,206 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after acquiring an additional 10,195,775 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Bristol Myers Squibb by 13.1% in the 4th quarter. Geode Capital Management LLC now owns 52,638,346 shares of the biopharmaceutical company’s stock valued at $2,837,026,000 after acquiring an additional 6,084,046 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at $1,947,272,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research analyst reports. Morgan Stanley restated an “underweight” rating and issued a $40.00 target price on shares of Bristol Myers Squibb in a research note on Friday, February 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Wells Fargo & Company restated an “outperform” rating and issued a $60.00 target price (up previously from $55.00) on shares of Bristol Myers Squibb in a research note on Friday, February 6th. UBS Group raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $65.00 in a research note on Wednesday, January 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Bristol Myers Squibb in a research note on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.20.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded down $0.46 during mid-day trading on Tuesday, reaching $60.28. The company’s stock had a trading volume of 12,873,654 shares, compared to its average volume of 12,992,969. The stock has a market cap of $122.76 billion, a P/E ratio of 17.47, a PEG ratio of 0.17 and a beta of 0.29. The firm’s fifty day moving average price is $55.70 and its two-hundred day moving average price is $49.72. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $63.33. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 2.32.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.39). Bristol Myers Squibb had a net margin of 14.64% and a return on equity of 69.65%. The firm had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same period in the prior year, the firm earned $1.67 EPS. Bristol Myers Squibb’s revenue for the quarter was up 1.3% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. On average, equities analysts forecast that Bristol Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 2nd were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is 73.04%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.