5 Best Healthcare Dividend Stocks To Buy Now

In this article, we discuss 5 best healthcare dividend stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Healthcare Dividend Stocks To Buy Now. 

5. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 61

Dividend Yield as of October 28: 1.89%

Abbott Laboratories (NYSE:ABT) is an American healthcare firm operating through Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices segments. Abbott Laboratories (NYSE:ABT) on September 15 declared a $0.47 per share quarterly dividend. The dividend is payable on November 15 to shareholders of the company as of October 14. Abbott Laboratories (NYSE:ABT) is one of the best dividend stocks to invest in. 

On October 21, Barclays analyst Matt Miksic reiterated an Overweight rating on Abbott Laboratories (NYSE:ABT) but lowered the price target on the shares to $114 from $118. The market reaction to the Q3 results returned Abbott Laboratories (NYSE:ABT) shares to early October levels, but the performance in Diabetes, EPD, and Cardio Devices is “encouraging,” the analyst told investors. The analyst said the post-earnings selloff in the shares was overdone.

According to Insider Monkey’s Q2 data, 61 hedge funds were long Abbott Laboratories (NYSE:ABT), compared to 68 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management featured as the largest stakeholder of the company, with 9.4 million shares worth over $1 billion. 

Diamond Hill Capital made the following comment about Abbott Laboratories (NYSE:ABT) in its Q3 2022 investor letter:

“Also among our bottom contributors were health care products manufacturer Abbott Laboratories (NYSE:ABT), global pharmaceutical company Pfizer, media and technology giant Alphabet, and insurance company American International Group (AIG).

Abbott has been working through a recall of its infant formula brand Similac in the US, which has continued to pressure its share price. Although the recall will impact near-term revenues, we are not concerned about any long-term impacts. We remain optimistic about the company given it is one of the highest quality names in health care, in our view, with a talented management team that makes smart capital allocation decisions. Abbott also has leading health care and consumer franchises with a particularly strong competitive position in its medical device business. The company continues to launch innovative products in key strategic areas (such as diabetes, structural heart, and diagnostics), which should help drive not only revenue growth but margin expansion.”