5 Healthcare Stocks to Watch Amid Senate’s Healthcare Bill

In this article, we’ll analyze 5 healthcare stocks to watch amid Senate’s healthcare bill. To read our detailed analysis of these stocks and how they will be impacted by the new laws, go directly to see the 10 Healthcare Stocks to Watch Amid Senate’s Healthcare Bill.

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

Number of Hedge Fund Holders: 70

Bristol-Myers Squibb Company (NYSE:BMY) is a pharmaceutical company working to develop, license, and market biopharmaceutical products across the globe. Its products cater to hematology, oncology, cardiovascular, and several other diseases and conditions. Chris Schott at JPMorgan holds an ‘Overweight’ rating on Bristol-Myers Squibb Company (NYSE:BMY) shares as of this August, alongside an $85 price target.

The Senate’s recent healthcare bill is expected to cause many companies to lose patent exclusivity for their drugs by 2026 at the earliest. Bristol-Myers Squibb Company’s (NYSE:BMY) Eliquis is among those drugs. By May, Eliquis had driven up sales for the company by 37% to $2.6 billion. The impact of the act on this product could significantly harm Bristol-Myers Squibb Company (NYSE:BMY).

Bristol-Myers Squibb Company (NYSE:BMY) was owned by 70 hedge funds in the first quarter of 2022. Their total holdings were valued at $2.4 billion.

Carillon Tower Advisers, an investment management firm, mentioned Bristol-Myers Squibb Company (NYSE:BMY) in its first quarter 2022 investor letter. Here’s what the firm said:

“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. Bristol-Myers Squibb (NYSE:BMY), the biopharmaceutical company, entered into accelerated share repurchase agreements.”