The healthcare industry, which is responsible for the development, manufacture, and distribution of medical products and services, is a critical sector of the economy. Healthcare stocks are the shares of businesses that produce pharmaceuticals, medical equipment, healthcare services, and biotechnology goods. Healthcare stocks are commonly seen as a defensive investment since they tend to do well regardless of broader economic conditions, owing to the fact that people constantly require access to medical care.
When considering their investing alternatives in healthcare equities, investors can examine demography, legislative changes, and technology improvements. An aging population, for example, may boost demand for healthcare products and services, while legislative changes may affect the pricing and availability of particular pharmaceuticals. Biotechnology firms may concentrate on researching novel therapies for chronic and rare diseases, whereas pharmaceutical firms may concentrate on manufacturing and marketing well-established medications.
Overall, healthcare companies can provide investors with diversification as well as the opportunity for long-term gain. However, before investing in the sector, it is critical to thoroughly assess each individual company’s financials, product pipeline, and regulatory environment. Considering all of this, let’s look at three trending healthcare stocks to watch in the stock market now.
Healthcare Stocks To Watch Now
- Pfizer Inc. (NYSE: PFE)
- UnitedHealth Group Inc. (NYSE: UNH)
- Moderna Inc. (NASDAQ: MRNA)
Pfizer (PFE Stock)
Starting off, Pfizer Inc. (PFE) is a leading global pharmaceutical company that develops and manufactures a range of innovative medicines and vaccines for various therapeutic areas. The company’s portfolio includes drugs for cancer, immunology, and rare diseases, as well as vaccines for infectious diseases.
Last week, Pfizer announced that its annual meeting of shareholders for 2023 will be held in a virtual-only format at 9:00 a.m. EDT on Thursday, April 27, 2023. The meeting is open to both shareholders and the general public. Pfizer has taken steps to ensure that the virtual meeting will offer shareholders and participants comparable rights and opportunities for participation as an in-person meeting would.
In the last month of trading action, shares of PFE stock are down 0.34%. Meanwhile, during Tuesday morning’s trading session, Pfizer stock is trading at $40.66 a share.
UnitedHealth Group (UNH Stock)
Next, UnitedHealth Group Inc. (UNH) is a health and well-being company that provides a range of products and services to help people achieve better health outcomes. The company operates through two main businesses: UnitedHealthcare, which provides health insurance coverage and related services, and Optum, which provides health services and information technology solutions.
Last week, UnitedHealth Group reported its 1st quarter 2023 financial results. Diving in, the healthcare company showed earnings of $6.26 per share, with revenue of $91.9 billion for the quarter. This is versus analysts’ consensus estimates which were earnings per share of $6.24 on revenue of $89.8 billion. Moreover, revenue increased by 14.7% in comparison to the same period, the previous year.
In the past month of trading, UNH stock has rallied back 5.38%. Though, ahead of Tuesday’s lunchtime trading action, shares of UNH stock are trading lower on the day so far by 0.54% at $502.62 a share.
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Moderna Inc. (MRNA Stock)
Last but not least, Moderna Inc. (MRNA) – Moderna is a biotechnology company focused on developing mRNA-based therapeutics and vaccines. The company’s mRNA technology platform is highly innovative and has the potential to revolutionize the way we treat and prevent diseases.
Back in February, Moderna reported its 4th quarter 2022 financial results. In detail, the company announced earnings of $3.61 per share, with revenue of $5.1 billion. This is versus Wall Street’s consensus estimates for the 4th quarter which were earnings of $4.66 per share, on revenue estimates of $5.1 billion.
In the past month, shares of MRNA stock have dropped by 8.22%. Meanwhile, on Tuesday going into the afternoon trading session, Moderna stock is trading at $141.90 a share.
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