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

Bristol-Myers Squibb Company (NYSE:BMY) was the target of some unusual options trading activity on Wednesday. Traders purchased 781 put options on the stock. This is an increase of 117% compared to the average volume of 360 put options.

Shares of Bristol-Myers Squibb (BMY) opened at $61.25 on Wednesday. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $66.10. The company has a market cap of $99,822.34, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. equities analysts forecast that Bristol-Myers Squibb will post 2.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th were paid a $0.39 dividend. The ex-dividend date was Thursday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.55%. Bristol-Myers Squibb’s dividend payout ratio is currently 61.42%.

A number of brokerages have commented on BMY. Zacks Investment Research downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. SunTrust Banks, Inc. raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Credit Suisse Group reiterated a “hold” rating and set a $61.00 price target (up from $58.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Piper Jaffray Companies reiterated a “hold” rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Finally, BMO Capital Markets set a $49.00 price target on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target 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 shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now directly 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 accessible through this link. Company insiders own 0.23% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BMY. Tradewinds Capital Management LLC grew its stake in shares of Bristol-Myers Squibb by 34.6% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 500 shares during the period. Atlantic Trust LLC acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth $111,000. Massey Quick Simon & CO. LLC grew its stake in shares of Bristol-Myers Squibb by 523.5% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 1,492 shares during the period. Welch Investments LLC grew its stake in shares of Bristol-Myers Squibb by 3.9% during the 1st quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock worth $115,000 after purchasing an additional 79 shares during the period. Finally, Blue Chip Partners Inc. grew its stake in shares of Bristol-Myers Squibb by 0.8% during the 1st quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 17 shares during the period. 69.51% of the stock is currently owned by institutional investors.

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About Bristol-Myers Squibb

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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