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.
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
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