3 Dividend-Paying Pharmaceutical Stocks To Buy This Summer

This month, ABBV announced positive top-line results from the Phase 3 maintenance study of FORTIFY, showing that risankizumab 360 mg achieved the co-primary endpoints of endoscopic response and clinical remission at one year in adult patients with moderate to severe Crohn’s disease. This result could be a gamechanger for ABBV if the drug’s usage is approved. The stock has gained 18.6% over the past nine months to close yesterday’s trading session at $111.40.

ABBV’s POWR Ratings are consistent with this promising outlook. The stock has an overall B rating, which equates to Buy in our proprietary rating system. It has a B grade for Growth, Value, and Quality. Click here to see ABBV’s ratings for Stability, Sentiment, and Momentum as well. ABBV is ranked #10 in the same industry.

Eli Lilly and Company (LLY)

LLY is a drug manufacturing company that is engaged in the discovery, development, manufacturing, and marketing of products in the human pharmaceutical product segment. Its products include Diabetes and other endocrinology products, such as Baqsimi, Basaglar, Forteo, and Humalog.

The company declared an $0.85 quarterly dividend per share payable on June 10. LLY’s dividend pay-outs have grown at a 9.5% CAGR over the past five years and 13.7% over the past three years. While its four-year average dividend yield is 2.2%, its current dividend translates to a 1.71% yield.

LLY’s revenue increased 16.1% year-over-year to $6.81 billion for the first quarter, ended March 31. The company’s non-GAAP net income came in at $1.70 billion, which represents a 15.7% year-over-year rise. Its EPS was $1.87, up 16.1% from its year-ago value.

For the quarter ending September 30, 2021, analysts expect LLY’s EPS and revenue to increase 22.7% and 15.3%, respectively,  to $1.89 and $6.62 billion. It surpassed consensus EPS estimates in three of the trailing four quarters.

The company announced on May 22 that in a pre-specified analysis of the Phase 2 SERENITY study, its product mirikizumab improved fatigue in patients with moderately to severely active Crohn’s disease (CD). The stock has soared 29.4% over the past year to close yesterday’s trading session at $199.13.

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