Bristol Myers Squibb Company $BMY Stock: Assenagon Asset Management S.A. Raises Position

Key Points

• Assenagon Asset Management increased its Bristol Myers Squibb position by 32.5% in the third quarter, bringing its holdings to 165,039 shares valued at approximately $10.3 million. Institutional investors collectively own 76.41% of BMY.
• Bristol Myers Squibb reported quarterly EPS of $2.04, exceeding estimates of $1.60, while revenue rose 5.7% year over year to $12.97 billion. Analysts hold a consensus “Moderate Buy” rating with an average price target of $64.88.
• The company declared a quarterly dividend of $0.63 per share, equivalent to $2.52 annually and a 4.3% yield; shares opened at $58.83, down 1.5%.

Assenagon Asset Management S.A. increased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 32.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 165,039 shares of the biopharmaceutical company's stock after purchasing an additional 40,470 shares during the period. Assenagon Asset Management S.A.'s holdings in Bristol Myers Squibb were worth $10,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Davis Asset Management L.P. acquired a new position in Bristol Myers Squibb in the 2nd quarter valued at approximately $27,000. Bayban acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $31,000. Addison Advisors LLC acquired a new stake in Bristol Myers Squibb during the 2nd quarter worth $32,000. Groupe la Francaise lifted its holdings in shares of Bristol Myers Squibb by 562.9% during the 2nd quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 501 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new stake in Bristol Myers Squibb in the 2nd quarter valued at approximately $35,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Down 1.5%

Shares of Bristol Myers Squibb stock opened at $58.83 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $68.64. The company has a market cap of $120.18 billion, a P/E ratio of 9.18, a PEG ratio of 0.30 and a beta of 0.19. The company's fifty day simple moving average is $63.43 and its two-hundred day simple moving average is $60.28.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The firm had revenue of $12.97 billion for the quarter, compared to analyst estimates of $11.74 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Research analysts anticipate that Bristol Myers Squibb Company will post 6.56 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 2nd will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 2nd. Bristol Myers Squibb's payout ratio is presently 55.51%.

Insider Buying and Selling at Bristol Myers Squibb

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. This represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.05% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Argus raised shares of Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Zacks Research raised Bristol Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 23rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Bristol Myers Squibb in a research note on Monday. Finally, UBS Group lowered shares of Bristol Myers Squibb from a "buy" rating to a "neutral" rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.88.

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company's portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.

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