Generation PMCA recently released its Q3 2020 Investor Letter. The fund is managed by co-founders Randall Abramson and Herb Abramson. The investment firm serves its clients through two distinct areas: Portfolio Management and Capital Advisory services. You should check out Generation PMCA’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the said letter, Generation PMCA highlighted a few stocks and Bristol Myers Squibb Co (NYSE:BMY) is one of them. Bristol Myers Squibb Co (NYSE:BMY) is a pharmaceutical company. Year-to-date, Bristol Myers Squibb Co (NYSE:BMY) stock lost 4% and on November 20th it had a closing price of $61.61. Here is what Generation PMCA said:
“Bristol Myers Squibb is a leading biopharmaceutical company focused on oncology, autoimmune diseases, cardiovascular diseases, and fibrosis. The market has been overly concerned with the loss of exclusivity of Revlimid in 2 years and Eliquis in 5 years. We believe the company has the ability to offset these patent expirations via M&A (it recently announced the acquisition of MyoKardia) and its compelling pipeline, including TYK-2, Opvido, Ozanimod, and Zeposia. To account for the risks associated with drug development and M&A, our valuation models assume zero growth after the next 5 years. The company has a 2.9% dividend yield and our FMV is $75.”
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Earlier this month, we published an article revealing that Bristol Myers Squibb Co (NYSE:BMY) is one of the top 5 leading healthcare surging on pent-up demand.
In Q2 2020, the number of bullish hedge fund positions on Bristol Myers Squibb Co (NYSE:BMY) stock increased by about 8% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in BMY’s growth potential. Our calculations showed that Bristol Myers Squibb Co (NYSE:BMY) is ranked #10 among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.
