Bristol-Myers Squibb Company (NYSE:BMY) is included among the 11 Low PE High Dividend Stocks to Buy According to Analysts.
Bristol-Myers Squibb Company is a global pharmaceutical company. It announced on October 10 that it will acquire privately held cell therapy developer Orbital Therapeutics for $1.5 billion in cash, in an effort to diversify away from older products that are now facing competition from generics.
The acquisition broadens Bristol-Myers Squibb Company’s CAR T-cell immunotherapy portfolio through Orbital’s lead experimental therapy, OTX-201, which is designed to treat autoimmune diseases.
This is the company’s first major acquisition of the year and reflects its strategy to move beyond established blockbusters, such as the blood thinner Eliquis and cancer drug Revlimid, while assuring investors that its newer therapies can support long-term growth.
Alongside its expansion efforts, Bristol-Myers Squibb Company also maintains a consistent dividend record, having increased its payouts for 16 consecutive years. The company offers a quarterly dividend of $0.62 per share and has a dividend yield of 5.66%, as of October 14.
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