Have $1,000 to Invest? This Dirt Cheap Pharma Stock Pays You 4.2% to Wait.
Bristol Myers Squibb (NYSE: BMY) has one of the highest dividend yields among major pharmaceutical stocks . At current prices, its shares have a forward yield of around 4.2%. However, consider the yield not as the sole reason to buy, but as an incentive to wait until the company's turnaround is complete. While the company faces major patent-exclusivity losses in the coming years, the success of Bristol Myers Squibb's "growth portfolio" could offset them. The resulting ease of uncertainty could lead to a rerating of shares. Image source: Getty Images. Continue reading