#7 - Bristol-Myers Squibb (NYSE:BMY)
The last stock that will manage through rising interest rates is Bristol-Myers Squibb (NYSE:BMY). If Cigna proves that consumers will need health insurance, Bristol-Myers Squibb is evidence that they will need prescription drugs.
With a market cap that is currently over $1.59 billion, Bristol-Myers Squibb is one of the largest pharmaceutical companies in the world. In 2021, the company delivered just over $46 billion in revenue. And the company is on track to best that mark in 2022.
If you want supporting evidence for that, you need to look no further than the company’s product line. In 2021, the company had three drugs that achieved more than $5 billion in total sales. And the company has a strong pipeline that should allow the company to replace drugs that have lost their patent protection.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
Read More - Current Price
- $58.87
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 14 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $54.07 (8.2% Downside)
Investors are like consumers. And like the purchases they make at the grocery store or gas station, consumers have little control over interest rates. The same is true of investors. But there's money to be made in the market no matter how aggressive or dovish the Fed gets.
However, the point of this presentation is to help you find stocks that are likely to be strong performers even if interest rates continue to rise. These stocks fit that description for the reasons provided. And if there's a theme for all of the stocks on this list is that they are evergreen stocks. But that only amplifies the fact that these are stocks for you to consider in a rising interest rate environment.
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