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With an annual dividend yield of 5.79%, Sanofi (NASDAQ:SNY) is included among the 12 Best NASDAQ Stocks to Buy for Dividends.

Sanofi (NASDAQ:SNY) is a healthcare biopharmaceutical company that engages in the research, development, manufacture, and marketing of therapeutic solutions.

Sanofi (NASDAQ:SNY) announced on June 22 that it was appointing Dr Paulo Fontoura as its new Executive Vice President, Global Head of Research & Development Pharma. Dr. Fontoura will replace Dr. Houman Ashrafian and will take charge of his new role on September 1. As head of R&D pharma, he will oversee the company's research, translational medicine, clinical development, and regulatory affairs arms, driving innovation while focusing on advancing a differentiated pipeline and accelerating the delivery of medicines.

Following the announcement, BofA analyst Sachin Jain stated that the leadership change is likely to be viewed favorably by investors, given Sanofi's recent series of setbacks in R&D. However, the analyst highlighted Dr. Fontoura's "mixed track record" from his time at Roche and noted that his new role will likely be a multi-year project to revitalize Sanofi's R&D organization.

Bofa maintains a 'Neutral' rating and €92 price target on Sanofi (NASDAQ:SNY), implying an upside of almost 25% from the current levels.

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