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Is Bristol-Myers Squibb (BMY) Stock a Buy For 2021?

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Alex Smith
·3 min read
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Wedgewood Partners recently released its Q4 2020 Investor Letter, a copy of which you can download here. The Fund returned 12.2% for the fourth quarter of 2020. Meanwhile, the benchmark S&P 500 Index and the Russell 1000 Growth Index gained 12.2% and 11.4%, respectively. You should check out Wedgewood Partners' top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, Wedgewood Partners highlighted a few stocks and Bristol Myers Squibb Co (NYSE:BMY) is one of them. Bristol Myers Squibb Co (NYSE:BMY) is a pharmaceutical company. In the last three months, Bristol Myers Squibb Co (NYSE:BMY) stock gained 9.3% and on January 14th it had a closing price of $66.02. Here is what Wedgewood Partners 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."

Countries With Highest Medical Research Spending
Countries With Highest Medical Research Spending

Nestor Rizhniak/Shutterstock.com

In December 2020, we published an article revealing that Bristol Myers Squibb Co (NYSE:BMY) was one of the 10 best healthcare dividend stocks to buy now.

In Q3 2020, the number of bullish hedge fund positions on Bristol Myers Squibb Co (NYSE:BMY) stock decreased by about 9% from the previous quarter (see the chart here), so a number of other hedge fund managers don't believe in BMY's growth potential. Our calculations showed that Bristol Myers Squibb Co (NYSE:BMY) is ranked #11 among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.