Health care is a multi-faceted sector that intersects with many aspects of our lives. It impacts everything from our personal well-being to the stability of national economies. As a cornerstone of both personal care and the broader economic landscape, the health care sector provides fertile ground for investment. Encompassing a broad array of industries such as pharmaceuticals, biotechnology, health care facilities, and managed health care among others. Companies within this sector often exhibit strong growth prospects, with their revenues being driven by factors like demographic trends, technological advancements, and evolving regulatory environments.
Stock investments in health care offer a unique mix of stability and potential for significant growth. Owing to the sector’s essential nature, health care stocks often display defensive characteristics during economic downturns. This comes as individuals still require medical attention, regardless of economic conditions. At the same time, the sector is also a hotbed of innovation. This is where advancements in fields such as gene editing, personalized medicine, and digital health can drive significant capital appreciation.
However, investing in health care stocks is not without its risks. The sector is heavily regulated, and companies often face significant challenges in bringing new products to market. Additionally, the sector is subject to policy risks as governments around the world grapple with issues of health care cost and access. As a result, prospective investors need to carefully analyze and understand the diverse factors when considering health care investments. Keeping this in mind, here are two trending health care stocks to watch in the stock market now.
Health Care Stocks To Watch Right Now
UnitedHealth Group (UNH Stock)
Leading off, UnitedHealth Group (UNH) is the largest health care services company in the world. In brief, the company provides a diverse range of insurance and health care products and services. The company’s robust portfolio includes serving millions of people with health benefits and providing a plethora of services to the health care community.
Earlier this week, UnitedHealth Group announced plans to release its financial results for the second quarter of 2023. The disclosure is set to occur prior to the opening of the stock market on Friday, July 14, 2023. The company will then conduct a teleconference at 8:45 a.m. Eastern Time, to further delve into the financial results, and engage in a discussion with analysts and investors.
Over the last five trading days, shares of UNH stock are trading up 2.75%. Meanwhile, during Friday morning’s trading session, UNH stock is trading at $479.84 a share.
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Medtronic (MDT Stock)
Second, Medtronic (MDT) is a global leader in medical technology and services. The company is known for creating medical devices that treat a wide range of chronic diseases, like diabetes, cardiovascular diseases, and neurological disorders.
Late last month, Medtronic announced its earnings for Q4 fiscal 2023 financial results. In detail, the company reported earnings of $1.57 per share on an $8.5 billion revenue. This is versus consensus estimates of $1.56 per share and revenue estimates of $8.3 billion. Additionally, UNH also notched in a 5.6% increase in revenue on a year-over-year basis. What’s more, Medtronic has provided projections for fiscal 2024, anticipating earnings to fall between $5.00 and $5.10 per share and expecting revenue to range from $32.47 billion to $32.63 billion.
Looking at the past five trading days, shares of MDT stock are trading slightly lower by 0.61%. While, during Friday morning’s trading session, MDT stock is trading at $87.44 per share.
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