Bristol Myers Squibb Company $BMY Holdings Increased by Synovus Financial Corp

Key Points

• Synovus Financial Corp has increased its stake in Bristol Myers Squibb by 3.3%, owning 262,899 shares valued at approximately $16 million.
• The company reported a quarterly EPS of $1.46, surpassing estimated expectations of $1.07, with revenues reaching $12.27 billion against a forecast of $11.32 billion.
• Bristol Myers Squibb recently declared a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 5.2% with a 100% payout ratio.

Synovus Financial Corp increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,899 shares of the biopharmaceutical company's stock after acquiring an additional 8,352 shares during the quarter. Synovus Financial Corp's holdings in Bristol Myers Squibb were worth $16,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP increased its position in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company's stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. GQG Partners LLC boosted its holdings in Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Bristol Myers Squibb during the first quarter valued at approximately $624,369,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup cut their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, August 1st. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Finally, Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.75 during midday trading on Thursday, reaching $46.89. 7,869,919 shares of the company were exchanged, compared to its average volume of 13,180,743. The stock has a fifty day simple moving average of $47.04 and a 200 day simple moving average of $50.90. The stock has a market cap of $95.43 billion, a P/E ratio of 18.91, a PEG ratio of 2.41 and a beta of 0.36. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. Bristol Myers Squibb's revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

About Bristol Myers Squibb

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.