Three Dividend-Paying Pharmaceutical Equities Offer Hope Amid COVID-19 Crisis

Three dividend-paying pharmaceutical investments to purchase amid the COVID-19 crisis avoid focusing solely on the top contenders for developing vaccines to protect against the dreaded novel coronavirus, since the share price of many of those stocks already have rocketed. However, an exchange-traded fund (ETF) offers exposure to promising vaccine makers as they pursue testing that may result in obtaining approval from the Food and Drug Administration (FDA) within months rather than years.

Bob Carlson, leader of the Retirement Watch investment newsletter, said he firmly recommends Bristol Myers Squibb (NYSE:BMY). He first advised buying the stock on June 29 and it since has risen $57.80 to $62.51, while also paying a $0.45 per share dividend on July 2. Bristol Myers Squibb’s trailing 12-month price-to-earnings (P/E) ratio is 10.87 times its earnings, compared to the Medical — Biomedical and Genetics industry’s ratio of 25.78 times earnings, according to Zacks. As a result, Bristol Myers Squibb trades at a big discount compared to its industry peers as it tries to absorb Celgene. Pfizer Inc (NYSE:PFE), a New York City-based multinational pharmaceutical company, offers a current dividend yield of 3.99% and trades at a P/E ratio of 14.99. That P/E ratio tops Bristol Myers Squibb’s P/E ratio but is much lower than the 25.78 times earnings of the Medical – Biomedical and Genetics industry.

Source: Dividend Investor

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