Michael Burry Sells These 5 Stocks to Brace for Impact

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

Number of Hedge Fund Holders: 70

Bristol-Myers Squibb Company (NYSE:BMY) is an American biopharmaceutical firm. Michael Burry added Bristol-Myers Squibb Company (NYSE:BMY) to his portfolio in Q4 2021. He exited his $22 million stake in the company in the second quarter of 2022.

On the other hand, JPMorgan analyst Chris Schott raised the price target on Bristol-Myers Squibb Company (NYSE:BMY) to $85 from $80 and kept an Overweight rating on the shares after the Q2 results.

According to Insider Monkey’s data, Bristol-Myers Squibb Company (NYSE:BMY) was part of 70 hedge fund portfolios at the end of Q1 2022, compared to 66 funds in the earlier quarter. John Overdeck and David Siegel’s Two Sigma Advisors held the largest position in the company, with 4.3 million shares worth $318.4 million. 

Here is what Carillon Clarivest Capital Appreciation Fund has to say about Bristol-Myers Squibb Company (NYSE:BMY) in its Q1 2022 investor letter: 

“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.”