2 High-Yield Dividend Stocks to Buy and 1 to Avoid

Three healthcare stocks that investors may want to consider for a long-term, buy-and-hold strategy are Pfizer (NYSE:PFE), Abbott Laboratories (NYSE:ABT), and Medtronic (NYSE:MDT). All three of these companies have strong dividend programs that can provide a reliable income stream for investors.

Pfizer has a forward dividend yield of 6.2%. While its financial results have been weaker than in the past, the company has recently expanded its product lineup and pipeline through acquisitions and internal development. Pfizer's Padcev cancer drug and Abrysvo RSV vaccine show promise. The company has also continued to increase its dividend despite recent struggles.

Abbott Laboratories is a diversified medical device company that has been growing its revenue and earnings despite challenges in some of its segments. The company's medical devices segment, particularly its MitraClip and FreeStyle Libre products, are market leaders. Abbott is also well-positioned to grow in cancer diagnostics through its recent acquisition of Exact Sciences. As a Dividend King with 50 consecutive years of dividend increases, Abbott is a reliable income stock.

Lastly, Medtronic is planning to separate its diabetes care business, which is projected to result in a leaner and more focused company. Medtronic's cardiac ablation solutions segment is growing, and the company is launching innovative products like the Hugo robotic-assisted surgery device. Medtronic has also increased its dividend for 49 consecutive years and is close to achieving Dividend King status. Its upcoming dividend growth makes Medtronic an attractive long-term investment.