Jim Cramer Discusses These 11 Stocks & Reveals Why Tech Stocks Are Down

3. Bristol-Myers Squibb. Co (NYSE:BMY)

Number of Hedge Fund Holders In Q4 2024: 88

Bristol-Myers Squibb. Co (NYSE:BMY) is one of Cramer’s top pharmaceutical stocks. While his favorite is weight loss drug maker Eli Lilly, the host is a fan of the firm’s schizophrenia drug. In his previous comments about Bristol-Myers Squibb. Co (NYSE:BMY), Cramer has called the firm’s COBENFY schizophrenia drug a “silver bullet” for the disease. This time around, he commented on the firm along the lines of ill-advised business spinoffs:

“These are ill-advised. Some banker came in and said, you want a higher multiple? Get rid of the stuff that does, just is kind of, you know, doesn’t grow, grows 7%, and just blow out with your 18% drug. Well you know, that’s fine. Until you have a hole in your pipeline. And then what do you do? Look at Bristol-Myersss, okay, that stock has a PE of 8 because it doesn’t have this kind of. . .I just say that you know these companies do this stuff David, and then when you really drill down on it, they just say, well Jim, you’ll a generalist, what do you know?”