4 Top Health Care Stocks To Watch In The Stock Market Now
Health care stocks stand amongst the largest sectors in today’s stock market. It comprises companies that sell medical supplies, medical services, and even those that offer medical insurances. As some would say, “The greatest wealth is health“. Many people compromise health in pursuit of wealth in their youth, only to then rely on wealth to nurse their health as they age. Whether it is for prevention or to treat a certain disease, the health care industry will always be relevant.
For instance, health care companies such as CVS Health Corp (NYSE: CVS) play a major role in rolling out vaccinations to combat COVID-19. The company has administered well over 17 million doses and allows walk-in vaccination. CVS stock is currently looking at gains of over 20% year-to-date. For one thing, health care stocks will likely continue to grow once we’ve overcome the pandemic. No matter how you slice it, health care will likely remain essential regardless of the state of the world. With all that in mind, do you have a list of top health care stocks to buy in the stock market now?
Health Care Stocks To Buy [Or Sell] In June
- Veeva Systems Inc (NYSE: VEEV)
- Johnson & Johnson (NYSE: JNJ)
- Cigna Corp (NYSE: CI)
- Sanofi SA (NASDAQ: SNY)
Veeva Systems Inc
First, we have one of the leading providers of cloud-based software solutions for the global life sciences industry, Veeva. Its solution enables companies to realize the benefits of modern cloud-based architecture and mobile applications for their business functions. In short, it helps companies to bring products to the market faster and more efficiently. VEEV stock has been up by over 30% over the past year.
Last week, the company reported an impressive earnings report. Its revenue came in at $433.57 million, up by 29% year-over-year. Out of which, subscription revenue climbed by 26%. Furthermore, its adjusted earnings grew by 37.9%. This is impressive as it exceeded the expectations of analysts. Besides, Veeva also saw the addition of 59 new customers, taking the total count to more than 1000 customers.
On April 15, the company and leading clinical research organization Parexel announced a strategic collaboration. This collaboration involves Parexel standardizing Veeva’s suite of clinical operations applications to streamline operations. Besides, Parexel will have early access and provide input into Veeva’s clinical products. In a world where tech plays a huge factor in health care, it puts the company in an ideal position moving forward. All things considered, would you buy VEEV stock?
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Johnson & Johnson
Next, we have one of the leading health care companies in the world, Johnson & Johnson (JNJ). It engages in the research and development, manufacturing, and sale of a range of products in the health care field. In the past year, the company has been making headlines due to its production of COVID-19 vaccines. JNJ stock has been trending upwards since the start of the year, up by almost 10% during this period.
On Monday, Denmark’s government asked the country’s health authorities to reconsider the decision to exclude JNJ and AstraZeneca’s (NASDAQ: AZN) COVID-19 shots from its vaccination program. It appears there has been a delay in the country’s vaccination program due to the delivery of fewer Moderna (NASDAQ: MRNA) and CureVac (NASDAQ: CVAC) vaccines than expected.
In addition, South Korea will be getting 1 million doses of JNJ’s vaccine this week mainly to inoculate military personnel. The country has reported a lower death toll compared to many developed countries from COVID-19. There may have been some hiccups along the way with claims of side effects associated with JNJ’s vaccine. However, most of it has been cleared and the need for vaccination far exceeds the minute chance of side effects. With that in mind, would JNJ stock be a viable investment now?
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Cigna Corp
Cigna Corp is a health services company that offers medical, dental insurance, and related products and services. With approximately 190 million customers and patient relationships in more than 30 countries, the company is able to harness actionable insights that address whole-person health and drive better health outcomes. The company stock has been on a healthy incline this year. It has risen over 25% year-over-year.
In May, the company along with Oscar Health, Inc (NYSE: OSCR) announced that Cigna Administered by Oscar small group health insurance will be available to Arizona employers. Small businesses throughout Arizona continue to struggle from the impact brought on by the pandemic. Hence, it is important that small businesses are getting aid to get back on their feet and keep their doors open. Thus, Cigna Administered by Oscar meets those needs by offering affordable health plans for small businesses.
Financially, the company reported earnings of $4.73 per share in its latest first-quarter earnings report. This is mostly attributed to higher pharmacy revenues, fees, and other income. Also, it reported revenues of $41 billion, up by 6.5% year-over-year. Given how health care is in the limelight over the past year, the company’s products and services are in high demand. So, would you say that CI stock is worth investing in now?
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Sanofi SA
To sum up the list, we have the French health care company, Sanofi. Essentially, the company focuses on the research, development, manufacturing, and marketing of therapeutic solutions. Its three operating segments are Pharmaceuticals, Consumer Health Care (CHC), and Vaccines. Despite trading sideways for the past year, it appears that SNY stock has been trending upwards since March.
Just last week, the company along with GlaxoSmithKline (NYSE: GSK) started enrollment in their Phase 3 clinical study to assess the safety, efficacy, and immunogenicity of their COVID-19 vaccine candidate. The primary endpoint of the study is the prevention of symptomatic COVID-19 in adults, with secondary endpoints being the prevention of severe COVID-19 disease and the prevention of asymptomatic infection. Should this be successful, it would serve as a boost to both companies as we strive to fight against the global pandemic.
Earlier in May, Sanofi also entered into a three-year research collaboration with Stanford University School of Medicine. Together, the two organizations will work to advance the understanding of immunology and inflammation through open scientific exchange. In the field of science and health care, research is always ongoing and is the foundation of new groundbreaking discoveries. Hence, would you take a bet with SNY stock at this point in time?
