Hot stocks to buy right now? 3 healthcare stocks for your watchlist
3 top healthcare stocks to watch right now
As the stock market continues to show volatility, some investors may flock to more defensive stocks such as healthcare stocks. Certainly, the current global pandemic is influencing sentiment around the healthcare sector. However, this is an industry that will always have demand, no matter the circumstances. Take Alnylam Pharmaceuticals’ (NASDAQ: ALNY) recent financial report for example. The company reported revenue of $662 million for fiscal 2021, an 83% increase over the prior year. Now, Alnylam expects its full-year 2022 product sales to hit $1 billion. So, although it is still loss-making for the quarter, it gives us a picture that the demand for its products and services continues to increase.
Moreover, the demand for COVID-19 related products is not slowing down either. With speculation about the need for more booster doses due to new variants, vaccine makers such as Modern (NASDAQ: ARNM) and Pfizer (NYSE: PFE) will likely continue to benefit from the current situation. We have also seen Eli Lilly and company (NYSE: LLY) announcing an agreement with the US government to supply up to 600,000 doses of its investigational drug, bebtelovimab. It looks like the government will accept the doses if it gets emergency use authorization from the US Food and Drug Administration. With all that’s been said and done, it’s no surprise that many believe healthcare stocks could continue to grow. So here are some of the biggest names in the stock market today.
Healthcare stocks to watch this month
live is a clinical-stage immunology company focused on the management of serious infectious diseases. Currently, it has four technology platforms focused on antibodies, T cells, innate immunity and small interfering ribonucleic acids. Its development pipeline consists of product candidates targeting COVID-19, hepatitis B virus (HBV), human immunodeficiency virus (HIV) and influenza A virus. It’s no secret for anyone that VIR’s stock has struggled over the past year. However, there are also reasons to believe that better days could be ahead for the company.
For starters, Vir announced in January an extension of its partnership with the Bill & Melinda Gates Foundation. Continued collaboration should include the advancement of innovative platform technologies in the development of broadly neutralizing antibodies to provide a “vaccine effect” for HIV treatment and malaria prevention. This vaccine antibody concept is also currently being applied to its entire portfolio of potential product candidates. Additionally, the company will use it to fight other high-impact infectious diseases in low- and middle-income countries.
In addition to this, the company recently announced preclinical data suggesting that its sotrovimab may retain neutralizing activity against the BA.2 subvariant of Omicron. For those who don’t know, this is an experimental monoclonal antibody developed in collaboration with GlaxoSmithKline (NYSE:GSK). It appears that a 500mg dose of the drug would retain activity against the variant, just as it did against all other variants of concern. Given these latest developments, do you think VIR stock could recover soon?
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Another big healthcare company to note right now would be Badge. Essentially, it is committed to providing a range of skilled nursing services and life services for the elderly, physical, professional and other rehabilitation and health care services. With approximately 248 healthcare facilities across the country, Ensign is one of the leading companies in what it does. Although it has traded sideways for most of the past year, it has recently regained momentum, rising more than 7% over the past week.
Ensign began the month by announcing the acquisition of two skilled nursing facilities in California. First, there is the 119-bed skilled nursing facility located in San Bernardino, Arrowhead Springs Healthcare. The other would be the Desert Mountain Care Center, a 99-bed skilled nursing facility in Indio. These additions to the company’s California operations will strengthen its local clusters. Not to mention that it will further strengthen its ability to provide top-notch care to the patients it serves.
Investors should also note that Ensign announced its fourth quarter earnings report earlier this week. To say the least, it was an impressive quarter that met analysts’ expectations. The company’s GAAP diluted earnings per share for the quarter was $0.86, representing a 4.9% year-over-year increase. Meanwhile, its adjusted earnings per share hit a record $0.97, up 21.3% year-over-year. Additionally, the company also provided an upbeat 2022 full-year earnings forecast of $4.01 to $4.13 per diluted share. That said, would you consider investing in ENSG shares?
Unlike the previous two entries, Envista is a dental products company. In detail, its products focus on the diagnosis, treatment and prevention of diseases and conditions of the teeth and periodontium. It operates through two segments, Specialty Products & Technologies, and Equipment & Consumables. On the one hand, its Specialty Products & Technologies segment develops, manufactures and markets dental implant systems, dental prostheses and others. Meanwhile, the Equipment and Consumables segment specializes in dental equipment and supplies used in dental offices. This includes digital imaging systems, magnification systems, and other essentials in a dental practice.
Yesterday, Envista announced its fourth quarter and full year 2021 financial results. For the quarter, the company’s core sales were up 6.6% year over year. Additionally, its adjusted net income was $81.1 million, representing a 12% increase from the prior year quarter. Today, the company estimates it could deliver 6-8% core growth and deliver a full-year adjusted EBITDA margin of more than 30% next year. Overall, Envista has significantly exceeded pre-pandemic levels and continues to show promise over the long term.
Not to mention that it also recently announced that it has renewed its partnership agreement with Vitaldent Group. The Spanish organization of dental services provides quality and accessible dentistry to patients using the most advanced technology and professional care. The agreement reaffirms the Vitaldent network of clinics’ commitment to providing the highest quality products and services in all treatments. Ultimately, this would make Envista the preferred supplier of clear implants and aligners in many markets around the world. All things considered, do you consider NVST stock to be one of the top healthcare stocks to watch?
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