In this article, we will take a look at the 10 Healthcare Stocks with Highest Dividends.
In December, CNBC reported that health-care job growth is propping up the labor market at a time when many other industries are struggling. Labor economists see this as a worrying signal for job seekers and the broader US economy. Employers in the health care and social services sector added 695,000 jobs in 2025 through November, based on data from the US Bureau of Labor Statistics. At the same time, total job gains across the U.S. economy reached 610,000. That gap stands out, as without hiring in health care, the economy would have lost about 85,000 jobs.
The J.P. Morgan 44th Annual Healthcare Conference offered a clearer sense of what may lie ahead for the industry. Discussions at the conference showed that researchers are continuing to find benefits for GLP-1s beyond weight loss. Data points to their ability to help prevent diabetes and reduce cardiovascular risks.
Several industry and government leaders described GLP-1s as a “strategic investment” in addressing health risks linked to obesity. There is also a broader implication. Expanding access to these drugs could reduce chronic noncommunicable diseases in obese populations, which may lower overall healthcare utilization. At the same time, the Trump administration said it had brokered a deal to lower GLP-1 prices for Medicare and Medicaid recipients. This could support wider use, especially as a GLP-1 pill enters the market.
Taken together, these developments suggest that demand for GLP-1s will grow, and competition among manufacturers is likely to intensify.
Given this, we will take a look at some of the best healthcare stocks with the highest dividends.
Our Methodology:
For this list, we screened for dividend stocks within the healthcare sector and picked those with dividend yields above 2%, as of April 15. These stocks are also popular among hedge funds. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10. Elevance Health, Inc. (NYSE:ELV)
Dividend Yield as of April 15: 2.2%
On April 13, Truist lowered its price recommendation on Elevance Health, Inc. (NYSE:ELV) to $375 from $390. It reiterated a Buy rating on the shares. The change came as part of a broader Q1 preview for Healthcare Services. The firm still takes a positive view on the sector. It points to steady demand, long-term structural tailwinds, and a reimbursement environment that looks more stable. The recent Final Medicare Advantage Rule was described as an “encouraging data point,” according to the analyst. Truist also noted that the group benefits from its scale and domestic focus. It sees the sector as defensive in nature. At the same time, companies are gaining from AI, automation, and better connectivity across systems. Strong free cash flow and financial flexibility are expected to support continued investment, M&A activity, and shareholder returns.
On April 8, Evercore ISI analyst Elizabeth Anderson initiated coverage of Elevance Health with an In Line rating and a $345 price target. The firm described Elevance as a diversified managed care company with “resilient” earnings in the current environment. It suggested the company could meet or exceed its 2026 guidance. Still, there are some concerns. Evercore sees downside risk to 2027 estimates. It also flagged a “meaningful likelihood” that the One Big Beautiful Bill work requirements could trigger “another wave of rate-acuity mismatch” in Medicaid.
Elevance Health, Inc. (NYSE:ELV) operates as a health insurer in the United States. The business is organized into four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other.
9. Johnson & Johnson (NYSE:JNJ)
Dividend Yield as of April 15: 2.25%
On April 15, Barclays analyst Matt Miksic raised the firm’s price recommendation on Johnson & Johnson (NYSE:JNJ) to $255 from $234. It reiterated an Equal Weight rating on the shares. The analyst noted that the company’s pharma unit delivered its sixth consecutive quarter of double-digit organic growth. In a research note, Barclays said it expects J&J’s new products, along with “durable” core growth in medical technology and pharma, to support its goal of double-digit sales growth by the end of the decade.
During the Q1 2026 earnings call, CEO and Chairman Joaquin Duato said the company delivered operational sales growth of 6.4%. He explained that the company’s growth strategy remains focused on oncology, immunology, neuroscience, cardiovascular, surgery, and vision. He also said the company now has 28 platforms or products generating at least $1 billion in annual revenue and is on track to reach its 2026 target of $100 billion in annual revenue for the first time.
Speaking about oncology, Duato said DARZALEX continues to serve as the gold standard in multiple myeloma, with sales of $4 billion and operational sales growth of 18%. He also pointed to the FDA approval of TECVAYLI in combination with DARZALEX FASPRO, noting that the regimen could position itself as a potential new standard of care as early as the second-line setting.
Johnson & Johnson (NYSE:JNJ) and its subsidiaries are engaged in the research and development, manufacture, and sale of a range of products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech.
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