5 Best Cancer Stocks To Buy Now

In this article, we discuss 5 best cancer stocks to buy. If you want to read our detailed discussion on the oncology industry, head over to 14 Best Cancer Stocks To Buy Now.

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

Number of Hedge Fund Holders: 66

Bristol-Myers Squibb Company (NYSE:BMY) is one of the best cancer stocks to buy. It is a global biopharmaceutical company engaged in the research, development, licensing, manufacturing, marketing, and distribution of biopharmaceutical products. These products are focused on addressing different medical conditions, including hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. On September 20, Bristol-Myers Squibb Company (NYSE:BMY) declared a $0.57 per share quarterly dividend, in-line with previous. The dividend is to be paid on November 1, to shareholders of record as of October 6.

According to Insider Monkey’s second quarter database, 66 hedge funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY), in contrast to the last quarter when 69 funds had invested in the stock. Richard S. Pzena’s Pzena Investment Management is the leading position holder in the company, with 4.33 million shares worth $276.75 million.

RGA Investment Advisors made the following comment about Bristol-Myers Squibb Company (NYSE:BMY) in its Q3 2022 investor letter:

“Bristol-Myers Squibb Company (NYSE:BMY), which we referenced above, boasts a double digit free cash flow yield that gets divided roughly equally between repurchases, a dividend and M&A in what is the best environment for acquisitions perhaps ever. In 2019, BMY acquired Celgene, who had one of the better corporate development programs in the industry. We view this as a great outlet for us as generalists considering a company like BMY should truly thrive with the ability to acquire outstanding assets and science at depressed valuations. We touched on the Turning Point acquisition above and we expect the company to be increasingly active in the M&A landscape. Importantly, Celgene also came to BMY with a phenomenal CAR-T platform. CAR-T is a cell therapy that activates the body’s immune system to target cancers. This will be a key growth vector alongside M&A in overcoming the company’s patent cliff.”