5 Healthcare Dividend Stocks Hedge Funds are Buying

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

Number of Hedge Fund Holders: 81
Dividend Yield: 2.9%

Bristol-Myers Squibb Company (NYSE: BMY), a New York-based biopharmaceuticals company, is next on our list of healthcare dividend stocks that hedge funds are buying. The company ranks 2nd on our list and is one of the largest pharmaceutical companies in the world, being consistently ranked on the Fortune 500 list.

This July, Robyn Karnauskas, an analyst at Truist, took over coverage of shares of Bristol-Myers Squibb Company (NYSE: BMY). The analyst has a Buy rating on the shares alongside a $74 price target.

In the second quarter of 2021, Bristol-Myers Squibb Company (NYSE: BMY) had an EPS of $1.93, beating estimates by $0.03. The company’s revenue was $11.70 billion, up 15.54% year over year and beating estimates by $474.30 million. Bristol-Myers Squibb Company (NYSE: BMY) has gained 13.35% in the past 6 months and 11.89% year to date.

By the end of the first quarter of 2021, 81 hedge funds out of the 866 tracked by Insider Monkey held stakes in Bristol-Myers Squibb Company (NYSE: BMY) worth roughly $5.04 billion. This is compared to 131 hedge funds in the previous quarter with a total stake value of approximately $6.1 billion.