The bear market has been nothing short of brutal for growth stocks. This makes it clear that now is the time for value. That’s why you need to discover the attractiveness of Bristol-Myers Squibb (BMY) stock. Read on below for the full story.
Bristol-Myers Squibb (BMJ) is the poster child for a stock to own during a bear market. First, because it’s in the defensive healthcare sector that doesn’t succumb when the economy is under pressure. Second, the north of 3% dividend yield is a welcome sight when your bank account isn’t paying out anything in cash.
Add it all up and you’ll understand why stocks were in positive territory in 2022, while most other stocks were painted red. Fortunately, with the market outlook still bleak due to the looming recession, BMY remains a great choice for the year ahead.
As mentioned above, healthcare is always a safe haven for investors amid recession and growth concerns, as most people will sacrifice spending elsewhere to stay on track. This idea is very clear in their long term track record with only 1 miss in the last 20 quarters. And that includes 4 straight beats in 2022.
On the POWR ratings on the front end, it is chock-full of high ratings pointing to strong price action ahead. That party starts with A overall + A for Value. After that you have a series of B’s for stability, sentiment and quality.
Stability indicates a lower beta and a better night’s sleep during difficult times. While Quality says it is an extremely well-run company that is likely to continue producing positive earnings results going forward.
For the record, BMY offers a healthy income that fits the growth and value story. When cash yields next to nothing, it certainly helps the ROI story when you add a dividend yield of close to 3% to the mix.
This is truly an all-weather stock. But especially beneficial to consider when the bearish storm clouds are still in the air.
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What to do now?
Check out my brand new presentation: “Stock market outlook for 2023” covering:
- Why 2023 a “Jekyll & Hyde” year for shares
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Wishing you a world of investment success!
Steve Reitmeister…but everyone calls me Reity (pronounced “Righty”)
CEO, Stock News Network and Editor, Reitmeister Total Return
BMY shares traded at $71.65 per share Thursday afternoon, down $0.29 (-0.40%). Year-to-date, BMY has gained 0.37%, versus a 4.02% gain in the benchmark S&P 500 index over the same period.
About the author: Steve Reitmeister
Steve is better known to the StockNews audience as “Reity”. Not only is he the CEO of the company, but he also shares his 40 years of investing experience in the Reitmeister Total Return Portfolio. Learn more about Reity’s background, along with links to his most recent articles and stock picks.
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