Investors Buy Large Volume of Bristol-Myers Squibb Put Options (NYSE:BMY)

Bristol-Myers Squibb Company (NYSE:BMY) saw unusually large options trading on Wednesday. Stock traders bought 781 put options on the company. This is an increase of approximately 117% compared to the average volume of 360 put options.

Bristol-Myers Squibb (BMY) opened at $60.86 on Monday. The firm has a market capitalization of $99,609.57, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. Bristol-Myers Squibb has a fifty-two week low of $46.01 and a fifty-two week high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. Bristol-Myers Squibb’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. equities research analysts anticipate that Bristol-Myers Squibb will post 2.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.56%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 61.42%.

A number of equities research analysts recently issued reports on BMY shares. Credit Suisse Group reissued a “hold” rating and issued a $61.00 target price (up previously from $58.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Cowen and Company reissued a “hold” rating and issued a $65.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, September 19th. Jefferies Group LLC lifted their target price on Bristol-Myers Squibb from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, September 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $60.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Finally, Leerink Swann lifted their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $64.93.

In other news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

Several institutional investors have recently bought and sold shares of BMY. Renaissance Technologies LLC raised its holdings in shares of Bristol-Myers Squibb by 108.5% during the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after buying an additional 7,020,200 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Bristol-Myers Squibb by 185.2% during the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after buying an additional 3,960,191 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after buying an additional 3,735,453 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Bristol-Myers Squibb by 2,990.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after buying an additional 3,516,536 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Bristol-Myers Squibb by 42,071.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after buying an additional 3,323,649 shares in the last quarter. 69.51% of the stock is owned by institutional investors.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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