Market Crash Predictions and 5 Stocks to Buy for Bad Times

2. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Hedge Fund Holders: 74

Bristol-Myers Squibb Company (NYSE:BMY) makes and sells biopharma products. The stock offers much needed stability to large investment portfolios during crisis times because of stable revenues and a predictable business model. 74 hedge funds in the database of Insider Monkey hold stakes worth $4.5 billion in Bristol-Myers Squibb Company (NYSE:BMY). 

In late December, JPMorgan analyst Chris Schott reiterated an Overweight rating on Bristol-Myers Squibb Company (NYSE:BMY) stock with a price target of $80, noting that the stock would rebound in 2022 with “new launched and pipeline catalysts”. Goldman Sachs analyst Chris Shibutani is also bullish on Bristol-Myers Squibb Company (NYSE:BMY) for 2022.

In its Q4 2020 investor letter, Wedgewood Partners, an asset management firm, highlighted a few stocks and Bristol-Myers Squibb Company (NYSE:BMY) was one of them. Here is what the fund said:

“Bristol-Myers Squibb recently reported accelerating sales as much of the medical services industry returned to work. The Company continues to expect double-digit earnings growth over the next few years, driven by existing drugs, in addition to a broad pipeline of new drugs and indications. While the market remains fixated on a couple of patent expirations that could occur over the next several years, we think this is well-known at this point, yet the market still undervalues a couple of key acquisitions the Company has made in the past few years, particularly Celgene, which was acquired for a song.”