5 Best Stocks to Buy Before US Election Season 2024

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This article presents an overview of the 5 Best Stocks to Buy Before US Election Season 2024. For a detailed overview of such stocks, read our article 10 Best Stocks to Buy Before US Election Season 2024.

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

Number of Hedge Fund Investors: 60

Bristol-Myers Squibb Co (NYSE:BMY) is one of the best stocks to buy before US election 2024. Healthcare stocks often fall out of favor during election years. But that’s an opportunity for contrarian investors looking for value. According to a Reuters report, Patrick Kaser, a portfolio manager at Brandywine Global, said he’s Overweight Bristol-Myers Squibb Co (NYSE:BMY) along with a few other healthcare stocks since he believes these stocks are undervalued.

As of the end of the fourth quarter of 2023, 60 hedge funds tracked by Insider Monkey had stakes in Bristol-Myers Squibb Co (NYSE:BMY). The most significant stake in Bristol-Myers Squibb Co (NYSE:BMY) is owned by John Overdeck and David Siegel’s Two Sigma Advisors which owns a $457 million stake in Bristol-Myers Squibb Co (NYSE:BMY).

Madison Sustainable Equity Fund made the following comment about Bristol-Myers Squibb Company (NYSE:BMY) in its Q3 2023 investor letter:

“During the quarter, we sold our positions in Bristol-Myers Squibb Company (NYSE:BMY) and The Walt Disney Company. We added Texas Instruments as a new position. Bristol-Myers has been dealing with the loss of exclusivity for Revlimid, one of its key products. Although the company is launching new drugs in melanoma, heart failure, and psoriasis it will need additional products to offset the lower revenue in Revlimid.”

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