5 Beaten Down Stocks Billionaires Are Crazy About

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

Number of Billionaire Holders: 18

Based in New Jersey, Bristol-Myers Squibb Company (NYSE:BMY) is a biotechnology company focused on the discovery, development, and delivery of innovative medicines for serious diseases across oncology, hematology, immunology, cardiovascular disease, and fibrosis.

On October 8, Bristol-Myers Squibb Company (NYSE:BMY) announced that it had entered into a definitive merger agreement to acquire Mirati Therapeutics, Inc. (NASDAQ:MRTX), in an all-cash transaction which values the target company at $4.8 billion. The acquisition is expected to strengthen and diversify the oncology portfolio of the company.

On December 6, the Board of Directors of Bristol-Myers Squibb Company (NYSE:BMY) declared a quarterly dividend of $0.60 per share, representing a 5.3% increase over last year’s quarterly rate. This marks the 15th consecutive year of dividend increases and the 92nd consecutive year of dividend payments.