Boring is beautiful. This saying is especially true during turbulent times. In case you haven’t noticed, current market and world conditions are quite turbulent.
In a highly volatile market, boring dividend stock Can be the ultimate defensive play. bristol myers squibb (BMY 0.57%) There is such a stock. It has achieved double digit growth year-on-year S&P 500 (^GSPC 1.36%) has fallen. I’d happily grab a Bristol Myers Squibb in any mishap.
today’s change
(-0.57%) $-0.34
current price
$59.37
key data points
market cap
$122B
day limit
$58.81 -$59.67
52wk range
$42.52 -$62.89
volume
13m
average volume
13m
gross margin
65.89%
dividend yield
4.17%
What about Bristol Myers Squibb’s patent rock?
Let’s look at what is probably the biggest objection about Bristol Myers Squibb – its patent cliff. The company’s two best-selling drugs, blood thinner Eliquis and cancer immunotherapy Opdivo, both lose patent exclusivity in 2028. The blood cancer drug Revlimid already faces generic competition.
However, Bristol Myers Squibb has not shied away from its challenges. The company’s revenues are shifting to its development portfolio, which primarily consists of new medicines. In 2025, this growth portfolio is expected to account for about 55% of total revenues, up from about 47% last year.
Bristol Myers Squibb also claims a promising pipeline. The drugmaker expects to report results of pivotal clinical studies for 28 programs by the end of 2028. Half of these programs are new treatments, while the other half are potential new indications for already approved drugs.
The company has also completed several key acquisitions to strengthen its growth prospects. For example, Bristol Myers Squibb bought Orbital Therapeutics last year to gain access to its next-generation CAR-T therapy, OTX-201. In 2024, BMS acquired Karunya Therapeutics, adding the potential blockbuster neuroscience drug KarXT to its pipeline.
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Image Source: Getty Images.
A Stock That Income Investors Should Like
Bristol Myers Squibb’s dividend is one of its greatest strengths. The company’s forward dividend yield is above 4.2%. Bristol has paid dividends for 94 consecutive years and has increased its dividend for 17 consecutive years.
If the stock market falls, it will likely be caused by a geopolitical crisis (such as the one currently associated with Iran’s blockade of the Strait of Hormuz), an alleged artificial intelligence (AI) bubble, or a sharp economic downturn. Bristol Myers Squibb’s business should perform well in any of these scenarios. Doctors will continue to prescribe the company’s treatments, and patients will continue to take them no matter what.
Is Bristol Myers Squibb a set-it-and-forget-it type of stock? I wouldn’t go that far. However, it is a reliable dividend payer that has survived and thrived for a long time. If the market falls, this big pharmaceutical stock is one I would be happy to keep in my portfolio.