Assenagon Asset Management S.A. Buys 7,245 Shares of Bristol-Myers Squibb (NYSE:BMY)

Assenagon Asset Management S.A. boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,191 shares of the biopharmaceutical company’s stock after acquiring an additional 7,245 shares during the period. Assenagon Asset Management S.A.’s holdings in Bristol-Myers Squibb were worth $3,321,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Capital International Investors boosted its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth about $392,608,000. Pzena Investment Management LLC lifted its holdings in Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Bristol-Myers Squibb by 77.1% during the 1st 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. Finally, Federated Hermes Inc. raised its position in shares of Bristol-Myers Squibb by 86.3% during the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after buying an additional 3,495,704 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.3 %

Shares of BMY opened at $52.68 on Thursday. The company’s fifty day simple moving average is $50.98 and its 200-day simple moving average is $46.48. The company has a market cap of $106.79 billion, a P/E ratio of -16.99, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.03.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.56%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BMY shares. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.38.

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.