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Healthcare stocks have emerged as winners during the coronavirus pandemic, next to technology stocks. The healthcare sector got a boost especially because of biotech companies which received massive attention because of the COVID-19 vaccine development race.
One such company is Novavax, Inc. (NASDAQ:NVAX) which reported 89% efficiency in its trials in the UK. With such positivity coming in from the company, investors rushed to buy the stock, and as on 8 February, 4:00PM EST the Novavax share price stood at USD 319.93, a 10.25% increase.
Apart from biotech stocks, the rapidly increasing sector of MedTech is also gaining market attention. The telemedicine industry companies offered medical solutions digitally, which worked best for the patients during the coronavirus pandemic. Teladoc Health Inc (NYSE:TDOC) witnessed an impressive growth during the time of crisis. Many such companies attracted investors attention, driving the entire healthcare segment towards gain.
In this backdrop, let us explore three top healthcare stocks in the stock market today.
Source: Copyright © 2021 Kalkine Media Pty Ltd.
Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson is an American multinational medical device company operating out of New Brunswick, New Jersey. This blue-chip pharma stock develops medical devices, pharmaceuticals, and various packaged goods.
JNJ is also developing a coronavirus vaccine for which it has recently submitted an emergency use authorization (EUA) application. Johnson & Johnson is developing the vaccine through its biotech firm Janssen Biotech. The company also revealed its investigational single-dose vaccine is ready to be shipped immediately once it receives the authorization.
According to JNJ, its vaccine reduces the severity of COVID-19 symptoms, which would help lower the number of patients in the hospitals. The high number of patients has increased the pressure on healthcare systems globally. If the vaccine is approved, Johnson & Johnson would be a serious contender giving tough competition to other vaccine makers worldwide.
Johnson & Johnson also reported strong revenue performance last week. The company added USD 22 billion to its books, making it a stock worth watching in 2021.
Johnson & Johnson (NYSE:JNJ) share price last traded at USD 164.92, up 0.29% as on 8 February 2021, 4:00PM EST.
Source: Copyright © 2020 Kalkine Media Pty Ltd.
Moderna Inc. (NASDAQ:MRNA)
Moderna is one of the widely known biotech stocks of 2020. The American pharmaceutical and biotechnology company focuses on drug research and development and produces various vaccine technologies. It operates from Cambridge, Massachusetts.
The company gained a lot of traction because of its COVID-19 vaccine development announcements, offering many hopes to the world. Moderna is one of the few companies offering authorized vaccines for emergency use in the US. The biotech company recently announced two positive developments for which stock price rallied.
While Singapore accepted its interim authorization for COVID-19 vaccine, Switzerland increased the order of its vaccine by 6 million doses. Moderna states that international approval adds global credibility to its vaccine.
Moderna faced neck-and-neck competition from another American pharma company Pfizer Inc. (NYSE:PFE) to develop and roll out COVID-19 vaccine. Notably, with its sale of vaccine doses, Moderna is estimated to clock in more than USD 11 billion in 2021. There is a strong possibility that the company will see significant recurring revenues as well.
Moderna Inc. (NASDAQ:MRNA) share price last traded at USD 185.98, up 5.53% as on 8 February 2021, 4:00PM EST.
Source: Copyright © 2020 Kalkine Media Pty Ltd.
Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)
This American biotechnology company is another company that has sprung to spotlight in the healthcare segment. Regeneron Pharmaceuticals, Inc. is based out of Westchester County, New York and develops medicines for serious diseases. Regeneron is a leading player in the biotech industry, and its stock witnessed one of the best years in 2020.
Regeneron released its earnings report recently, which seems to have pleased the investors. Looking at the company’s performance, 2021 seems like another great year for REGN stock.
In the fourth-quarter report, Regeneron informed investors of having clocked a total revenue of USD 2.42 billion. It is a 30% growth year-over-year. Additionally, the company posted earnings per share (EPS) of USD 10.24. The biotech company noted that its eye disease treatment - Eylea, saw improved demand in the market. That fetched the company sales of USD 1.34 billion in quarter four.
Similarly, global net sales for its eczema drug Dupixent also increased to 56% year-over-year, which added USD 1.17 billion to sales. Regeneron also has various other products in the pipeline for clinical development.
Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) share price last traded at USD 494.90, down 0.82% as on 8 February 2021, 4:00PM EST.