The healthcare sector is an expansive domain that entails a wide range of companies. These companies are involved in the provision of medical services, the manufacture of medical equipment, and the development of pharmaceuticals. This sector plays a pivotal role in the well-being of society. Ensuring individuals receive the care and treatments they need to lead healthy lives. Furthermore, as the global population continues to age and as medical advancements are continually made, the demand for healthcare services and innovations is expected to increase. This makes it a focal point for economic activity.
Investing in healthcare stocks provides an opportunity to tap into a steadily growing market. The rationale behind this is straightforward, no matter the state of the economy, people will always require medical attention, medicines, and health-related products. Consequently, healthcare stocks can offer a form of resilience against economic downturns. Which can be especially appealing to investors looking for stability in their portfolios.
However, like any investment, putting money into healthcare stocks isn’t without its challenges. The industry is heavily regulated, and companies face rigorous testing and approval processes for new drugs and medical devices. There’s also the ever-present competition and rapid technological advancements that can make or break a company’s prospects. Nevertheless, for those who do their research and have a long-term perspective, investing in the healthcare sector can be both potentially financially rewarding and offer the added benefit of supporting advancements that improve and save lives. If this has you keen on investing in the healthcare sector, here are two healthcare stocks to watch in the stock market now.
Healthcare Stocks To Watch In The Stock Market Today
Eli Lily & Co. (LLY Stock)
To initiate, Eli Lilly and Company (LLY) is a global pharmaceutical company. In detail, the company focuses on discovering, developing, and delivering innovative medicines that address a variety of medical conditions, ranging from diabetes to oncology.
This week Eli Lilly & Co. announced that their oncology division, Loxo@Lilly, is set to present preclinical data on agents targeting various oncogenic mutations at the 2023 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics in Boston. The data includes information on the potential of these agents to combat specific cancer mutations. This will pave the way for the company’s new oncology drugs expected to enter clinical trials in 2024. Among the agents are a potent inhibitor for KRAS G12D mutations, a broad-spectrum KRAS inhibitor, and a human monoclonal antibody focused on Nectin-4.
In 2023 thus far, shares of LLY stock have surged by 47.05% year-to-date. Meanwhile, during Thursday morning’s trading session, Eli Lily & Co. stock is trading modestly higher off the open by 0.99% at $536.72 per share.
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Intuitive Surgical (ISRG Stock)
Next, Intuitive Surgical Inc. (ISRG) is a pioneer in the field of robotic-assisted, minimally invasive surgery. The company designs, manufactures, and markets the da Vinci surgical system. In detail, this is an advanced platform that allows surgeons to perform intricate procedures with enhanced precision, flexibility, and control.
Back in July, Intuitive Surgical reported its second quarter 2023 earnings results. Diving in, the company notched in earnings of $1.48 per share, along with revenue of $1.76 billion for Q2 203. This is versus analyst estimates for the quarter which were an EPS of $1.32 per share, and revenue estimates of $1.73 billion. Moreover, revenue also increased by 15.36% compared to the same period, the previous year.
Year-to-date, Intuitive Surgical stock has risen by 7.98% so far. With that, during Thursday morning’s trading session, shares of ISRG stock are trading slightly lower on the day so far by 1.19% at $286.82 a share.