Bristol-Myers Squibb (BMY) is the poster child for a stock to own during a bear market. First, because it’s in the defensive healthcare industry which doesn’t buckle when the economy is under pressure. Second, the north of 3% dividend yield is a welcome sight when you bank account pays nothing on cash.
Add it all up and you understand why shares were in positive territory in 2022 when most other stocks were painted red. Gladly with the market outlook still dark because of looming recession, BMY continues to be a terrific choice for the year ahead.
As noted above, healthcare is always a safe haven for investors in the midst of recession and growth concerns as most people will sacrifice spending in other places to stay on a healthy track. This notion shows up quite clearly in their long term earning track record with only 1 miss in the past 20 quarters. And that includes 4 straight beats in 2022.
On the POWR Ratings front it is chock full of high ratings that point to strong price action ahead. That party starts with A overall + A for Value. After that you have a string of B’s for Stability, Sentiment and Quality.
Stability points to lower beta and better nights sleep during rough times. Whereas Quality says it’s extremely well run company likely to continue to produce positive earnings results in the future.
Just for good measure BMY offers healthy income to go along with the growth and value story. When cash is paying virtually nothing, then it certainly helps the ROI story when you add a nearly 3% dividend yield into the mix.
This really is an all-weather value stock. But especially beneficial to consider when the bearish storm clouds are still in the air.
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BMY shares were trading at $71.65 per share on Thursday afternoon, down $0.29 (-0.40%). Year-to-date, BMY has gained 0.37%, versus a 4.02% rise in the benchmark S&P 500 index during the same period.
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