Core Viewpoint - Bristol-Myers Squibb Company (BMY) is a leading biopharmaceutical company with a strong oncology portfolio, but its stock has underperformed the market due to concerns over patent expirations and competition [1][4]. Company Overview - Bristol-Myers Squibb is based in Princeton, New Jersey, and focuses on developing treatments for serious diseases, including cancer and cardiovascular diseases [1]. - The company has a market capitalization of $111.2 billion and a strong portfolio that includes drugs like Opdivo, Revlimid, and Eliquis [1]. Stock Performance - Over the past year, BMY shares have declined by 8.3%, while the S&P 500 Index has increased by 16.1% [2]. - In the last six months, BMY stock has risen by 14.7%, outperforming the S&P 500's 9.2% increase [2]. Competitive Analysis - BMY has underperformed compared to the iShares U.S. Pharmaceuticals ETF, which gained 24.8% over the past year [3]. - Concerns over patent expirations for key drugs like Eliquis and Opdivo, slower growth, and rising competition in oncology have contributed to BMY's stock lagging [4]. Financial Outlook - Analysts project BMY's EPS to grow by 455.7% to $6.39 for FY2025 [5]. - The company has a strong earnings surprise history, beating consensus estimates in the last four quarters [5]. Analyst Ratings - The consensus rating for BMY is a "Moderate Buy," with nine "Strong Buy" ratings, one "Moderate Buy," 18 "Holds," and one "Strong Sell" [5]. - Recent upgrades from BofA Securities and Guggenheim have improved investor sentiment, citing the strength of BMY's R&D pipeline [6].

Core Insights - Three companies, Realty Income, Verizon, and Pfizer, have consistently raised their dividend payouts for over 16 years while offering attractive yields above 5% [2] Group 1: Realty Income - Realty Income has been providing monthly dividend payments for over 50 years, but its stock price has declined about 22% from its peak three years ago [4] - The company employs net leases, which ensure predictable cash flows, and has raised its dividend 131 times since going public in 1994 [5] - Realty Income's stock currently offers a yield of 5.5%, with total distributions in Q2 increasing by 3.7% year over year [6] - As of June, 98.6% of Realty Income's 15,606 properties were occupied, with an average lease term of nine years, ensuring steady cash flow growth [7] Group 2: Verizon - Verizon's stock is down about 28% from its all-time high in late 2019, yet it has raised its dividend for 18 consecutive years, currently offering a yield of 6.1% [8][9] - The company's wireless service revenue rose 2.2% year over year to $20.9 billion in Q2, contributing to a total revenue increase of 5.2% [9] - Verizon has raised its free cash flow forecast for 2025 to between $19.5 billion and $20.5 billion, indicating the ability to maintain dividends while reducing debt [10] Group 3: Pfizer - Pfizer's stock has decreased by about 59% from its 2021 peak, primarily due to concerns over expiring drug patents, but it has raised its dividend every year since 2009, currently offering a yield of 6.8% [11] - The company anticipates a revenue decline of $17 billion to $18 billion due to patent expirations starting in 2026, but it has prepared for this by acquiring Seagen for $43 billion [12] - By 2030, assets from Seagen and other acquisitions are expected to generate over $20 billion in annual sales, potentially allowing Pfizer to continue its dividend-raising streak [13]