5 Best Healthcare Dividend Stocks To Buy Now

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

Bristol-Myers Squibb Co (NYSE: BMY) is a solid dividend stock having a 3.1% yield and years of consecutive  hikes. The company recently announced that it will raise its dividend by 8.9% to $0.49 per share in 2021. This comes after a 9.8% hike to $0.45 per share quarterly dividend announced by the company last year.  Since 2010, Bristol-Myers’ dividend has risen consistently from $0.32 per share to the present levels.

The New York-based company in November won an approval from the European Commission for Opdivo (nivolumab), its cancer drug which it is pitching as a second-line treatment for certain forms of esophageal squamous cell carcinoma. The drug will be the first immunotherapy to be approved for a gastroesophageal cancer in the E.U.

In its Q3  2020 Investor Letter, Generation PMCA, managed by co-founders Randall Abramson and Herb Abramson, said the following about Birstol-Myers:

“Bristol Myers Squibb is a leading biopharmaceutical company focused on oncology, autoimmune diseases, cardiovascular diseases, and fibrosis. The market has been overly concerned with the loss of exclusivity of Revlimid in 2 years and Eliquis in 5 years. We believe the company has the ability to offset these patent expirations via M&A (it recently announced the acquisition of MyoKardia) and its compelling pipeline, including TYK-2, Opvido, Ozanimod, and Zeposia. To account for the risks associated with drug development and M&A, our valuation models assume zero growth after the next 5 years. The company has a 2.9% dividend yield and our FMV is $75.”

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