GYL Financial Synergies LLC Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

GYL Financial Synergies LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,101 shares of the biopharmaceutical company’s stock after selling 3,636 shares during the quarter. GYL Financial Synergies LLC’s holdings in Bristol-Myers Squibb were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BMY. Norges Bank purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $1,560,524,000. Capital International Investors lifted its stake in shares of Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. M&G Plc acquired a new position in shares of Bristol-Myers Squibb in the first quarter worth about $392,608,000. Pzena Investment Management LLC lifted its stake in shares of Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after acquiring an additional 6,701,097 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BMY. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. BMO Capital Markets decreased their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays increased their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.93.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.04 during mid-day trading on Friday, hitting $47.66. The company had a trading volume of 550,522 shares, compared to its average volume of 15,636,138. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. The business’s 50-day simple moving average is $44.24 and its 200-day simple moving average is $46.59. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.41. The firm has a market cap of $96.61 billion, a P/E ratio of -15.36, a PEG ratio of 12.51 and a beta of 0.44.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

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.