Michael Burry’s 2022 Portfolio: Top 5 Stock Picks

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

Number of Hedge Fund Holders: 66

Scion Asset Management’s Stake Value: $21.90 million

Scion Asset Management’s 13F Portfolio: 10.87% 

According to regulatory filings for the first quarter of 2022, Bristol-Myers Squibb Company (NYSE:BMY) is Michael Burry’s largest holding, with 300,000 shares priced at $21.9 million. The New York-based biopharmaceutical firm develops, manufactures and sells a range of medicinal therapies around the globe. As of May 19, the company’s shares have gained 13.37% in the last year, and 22.75% in the year to date.

On May 17, Wells Fargo analyst Mohit Bansal raised the firm’s price target on Bristol-Myers Squibb Company (NYSE:BMY) to $70 from $65 and maintained an ‘Equal Weight’ rating on the company shares. The analyst thinks the stock has outperformed in the year to date thanks to the market favoring value stocks, and continues to see long-term challenges for the firm. He feels that the its new product portfolio could fall below its mark of $10-$13 billion by 2025.

Bristol-Myers Squibb Company (NYSE:BMY) posted EPS of $1.96 for the first quarter, exceeding analysts’ expectations by $0.07. The revenue posted during the first quarter was $11.65 billion, outperforming estimates by $308.4 million.

Out of all the hedge funds tracked by Insider Monkey, 66 reported bullish bets on Bristol-Myers Squibb Company (NYSE:BMY) at the end of Q4 2021, with a collective worth of $3,31 billion. This is down from 74 hedge funds a quarter ago. Two Sigma Advisors was the most prominent shareholder of Bristol-Myers Squibb Company (NYSE:BMY) during the first quarter, with a $318.4 million stake.

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