Assenagon Asset Management S.A. Decreases Holdings in Bristol-Myers Squibb Co (BMY)

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Assenagon Asset Management S.A. trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 7.7% during the first quarter, HoldingsChannel reports. The firm owned 61,631 shares of the biopharmaceutical company’s stock after selling 5,141 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Bristol-Myers Squibb were worth $2,940,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in shares of Bristol-Myers Squibb by 1.0% in the third quarter. Vanguard Group Inc now owns 128,376,159 shares of the biopharmaceutical company’s stock valued at $7,969,593,000 after acquiring an additional 1,229,553 shares in the last quarter. BlackRock Inc. increased its holdings in Bristol-Myers Squibb by 0.9% in the fourth quarter. BlackRock Inc. now owns 115,573,078 shares of the biopharmaceutical company’s stock valued at $6,007,489,000 after buying an additional 999,193 shares during the last quarter. Northern Trust Corp increased its holdings in Bristol-Myers Squibb by 4.4% in the fourth quarter. Northern Trust Corp now owns 22,576,884 shares of the biopharmaceutical company’s stock valued at $1,173,547,000 after buying an additional 954,877 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Bristol-Myers Squibb by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 17,303,884 shares of the biopharmaceutical company’s stock valued at $899,456,000 after buying an additional 180,711 shares during the last quarter. Finally, Norges Bank purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $797,038,000. Institutional investors own 74.09% of the company’s stock.

Several equities analysts recently commented on BMY shares. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Bank of America set a $53.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Friday, January 25th. ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Thursday, April 4th. Finally, Barclays raised Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $53.00 to $55.00 in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $57.64.

Shares of BMY stock opened at $46.85 on Monday. The stock has a market cap of $76.63 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.19 and a beta of 0.77. Bristol-Myers Squibb Co has a 1 year low of $44.30 and a 1 year high of $63.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.79 and a current ratio of 1.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.72 billion. Bristol-Myers Squibb had a return on equity of 48.72% and a net margin of 22.23%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. Analysts predict that Bristol-Myers Squibb Co will post 4.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 41.21%.

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Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Further Reading: Outstanding Shares and The Effect on Share Price

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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