Top Health Care Stocks To Watch Right Now
In a world where a global pandemic has been overshadowing our daily lives, health care stocks would often be top picks in the stock market. After a year and a half, many people would expect that we could return to our normal lives. However, the reality is, COVID-19 has caused tremendous pain and loss to many people around the world and continues to be a threat even today. This is why testing and diagnosing for COVID-19 remains a priority.
We saw the U.S. government agreeing to purchase point-of-care COVID-19 tests from Abbott Laboratories (NYSE: ABT) and Celltrion earlier today. These tests are to be shipped to nursing homes and other high-risk populations. This is part of the government’s broader plan to purchase $2 billion in rapid coronavirus tests. Besides, vaccine companies such as Moderna (NASDAQ: MRNA) and Pfizer (NYSE: PFE) played significant roles to get us to where we are today. Nevertheless, health care services will always be a necessity even in post-pandemic times. With that in mind, here is a list of the top four health care stocks to watch in the stock market today.
Best Health Care Stocks To Watch Before October 2021
- Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
- Inotiv Inc (NASDAQ: NOTV)
- Bausch Health Companies Inc (NYSE: BHC)
- Inmode Ltd (NASDAQ: INMD)
Regeneron Pharmaceuticals
Regeneron is a biotechnology company that specializes in medicines for the treatment of serious diseases. In detail, the company commercializes medicines and product candidates for eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases, and rare diseases. It has been a bullish year for the company stock thus far, increasing more than 30% since the start of the year.
Last week, the company announced that the U.S. government has agreed to purchase an additional 1.4 million doses of REGEN-COV (casirivimab and imdevimab). This new agreement will bring the total dose purchased by the U.S. government to nearly 3 million doses. This antibody cocktail is currently authorized to treat certain infected patients to reduce the risk of hospitalization or death from COVID-19. Although vaccination has been proven to be effective, there are still many people who are suffering from the virus. So treatment for COVID-19 is still a necessity at this point.
In addition, the company and Sanofi (NASDAQ: SNY) will be presenting its new Dupixent® (dupilumab) analyses in patients as young as six years old with moderate-to-severe atopic dermatitis at the 14th World Congress of Pediatric Dermatology Annual Congress (WCPD) and the 30th European Academy of Dermatology and Venereology Congress (EADV). The results will provide insight into the clinical and real-world experience of the drug on disease measures including itch, disease severity, sleep, and anxiety. Given these new developments, would you add REGN stock to your watchlist?
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Inotiv
Following that, we have the international contract research company, Inotiv. Essentially, the company provides drug discovery and development services, and analytical instruments. It does so by focusing on providing drug developers with scientific research and analytical instrumentation. It would be an understatement to say that NOTV stock has had a fantastic year so far. Even though it is taking a breather today, NOTV stock has risen by around 50% just this month.
In fact, the company has recently announced that it has entered into an agreement to purchase Envigo. The combined company will enable drug developers to access products and services for the entirety of discovery and nonclinical development within one organization. The merger will also indirectly strengthen Inotiv’s presence in North America and add several locations in Western Europe to bolster the company’s global service delivery.
On top of that, the company’s financials are also trending in the right direction. In August, the company reported an increase of 45.2% to $22.9 million for its third quarter. Also, there was an increase in operating expenses that reflects higher strategic investment to support additional future revenue growth. With the weakness in NOTV stock today, would it be an opportune time to load up?
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Bausch Health Companies
Another top health care stock in focus today would be Bausch. For those unaware, the Canada-based company develops and markets a range of branded and generic pharmaceuticals, medical devices, and over-the-counter products. However, it primarily focuses on the therapeutic areas of eye health, gastroenterology, and dermatology.
The recent climb is likely due to a bullish recommendation from JPMorgan Chase’s analyst, Chris Schott. He pointed out that the sum-of-the-parts calculation of the company could be worth more than $40. Well, a large portion of his estimate consists of the Bausch & Lomb eye care division assumed to be $30 while the Solta dermatology-device unit supports the additional $7 per share of value. So, it appears that this analysis was sufficient to move the hearts of prospective investors.
After all, the company’s fundamentals have also been relatively stable over the years. For instance, the company reported revenues of $ 2.1 billion for its second quarter, representing an increase of 26% year-over-year. Bausch also launched expanded parameters for Bausch+Lomb Ultra® Multifocal for Astigmatism contact lenses during the quarter. Considering this information, will BHC stock make your list of top health care stocks to buy now?
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Inmode
Inmode is an Israel-based company that specializes in energy-based, minimally-invasive surgical aesthetic and medical treatment solutions. The Company’s proprietary technologies are used by physicians in a variety of procedures. This includes fat reduction with simultaneous skin tightening, face and body contouring, and ablative skin rejuvenation treatments. Therefore, the company’s area of expertise in today’s world is often in high demand.
For starters, Inmode recently announced the launch of the EvolveX platform with Transform technology. The EvolveX is a hands-free, zero downtime full-body transforming solution. Inmode believes that EvolveX is the only all-in-one system equipped with clinically proven technologies to remodel skin, treat fat and sculpt muscles.
Hence, the versatility of EvolveX multi-modalities will allow physicians to focus on individual patient needs by selectively delivering procedures that produce consistent transformative results. Investors are also responding positively to the announced plans for a 2-for-1 stock split last week. So much so that INMD stock has risen over 17% just within the past week. Given all this, will INMD stock enter your list of health care stocks to watch before October 2021?
