Bristol-Myers Squibb Target of Unusually High Options Trading (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) was the target of unusually large options trading activity on Friday. Stock traders acquired 53,817 call options on the stock. This is an increase of 37% compared to the average volume of 39,409 call options.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays lifted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. BMO Capital Markets restated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Trading Up 1.6 %

NYSE:BMY opened at $50.91 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $58.46. The firm has a market cap of $103.20 billion, a price-to-earnings ratio of -16.42, a P/E/G ratio of 12.96 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company’s 50 day moving average is $48.53 and its 200-day moving average is $46.33.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter last year, the firm posted $1.75 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Assets Advisory LLC bought a new stake in Bristol-Myers Squibb in the 1st quarter valued at $5,161,000. Lincoln National Corp increased its holdings in Bristol-Myers Squibb by 7.7% in the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,052 shares during the period. Chapin Davis Inc. increased its holdings in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after buying an additional 4,159 shares during the period. Sierra Summit Advisors LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $755,000. Finally, Scotia Capital Inc. increased its holdings in Bristol-Myers Squibb by 48.6% in the 4th quarter. Scotia Capital Inc. now owns 236,724 shares of the biopharmaceutical company’s stock valued at $12,146,000 after buying an additional 77,471 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Company Profile

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.