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Summary
- Clover Health Investments (NASDAQ:CLOV) rose 18% in one year; it increased its presence to 101 new locations.
- Blueprint Medicines Corporation (NASDAQ:BPMC) received FDA approval for AVYAKITTM (avapritinib). Its stock grew nearly 19% in the past year.
- HCA Healthcare (NYSE:HCA) stock increased by nearly 116% in the past year. Its net income in the March quarter grew by 145% YoY.
Healthcare is a huge sector that includes companies involved in developing and commercializing drugs, medical devices, and other healthcare products and services.
The healthcare sector has seen rapid growth over the past year. Many new companies have forayed into the sector, and many of them are lining up for IPOs in the forthcoming quarters.
Here we discuss 5 hot healthcare companies that are making a buzz in the market.
Clover Health Investments, Corp. (NASDAQ:CLOV) is headquartered in Franklin, Tennessee and has a market capitalization of US$5.72 billion. It is a healthcare technology company aiming to provide sustainable and affordable healthcare to people. With the help of its software platform Clover Assistant, it provides healthcare services at a low cost.
In the quarter ended March 31, 2021, it logged total revenue of US$200.3 million, compared to US$165.5 million in the corresponding period of 2020. The company booked a net loss applicable to common shareholders of US$48.4 million in the March quarter, 2021, compared to US$28.1 million in the March quarter of the previous year. The reason for the losses could be attributed to increased sales, general and administration expenses.
On June 24, Clover Health announced to expand to 101 more countries. It currently provides a Medicare Advantage plan to 66,300 members in 108 counties. The share price increased nearly 18% in the past year. It was trading at US$13.09, up 0.93%, at 9:22 am ET on June 28.
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Source: Pixabay
Pfizer, Inc. (NYSE:PFE) has a market capitalization of US$218.20 billion. Its P/E ratio is 19.89. The company’s dividend yield is 4%, with an annualized dividend of US$1.56.
The company develops and markets biopharmaceutical products globally.
Its revenue was US$14.58 billion in the quarter ended April 4, 2021, compared to US$10.08 billion in the quarter ended March 29, 2020. About 52% of revenue, or US$7.6 billion, was generated in the US in the quarter, and the remaining amount from overseas.
Pfizer’s net income was US$4.88 billion attributable to common shareholders in the quarter compared to US$3.36 billion in the corresponding quarter of the previous year, reflecting a 45% increase year over year. PFE stock rose around 20% in the past year, ended June 25, 2021. It was trading at US$38.99, up 0.03%, at 9:54 am ET on June 28.
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Blueprint Medicines Corporation (NASDAQ:BPMC) has a market capitalization of US$5.25 billion. Its IPO came in 2015. It is a precision therapy company engaged in developing cancer drugs and hematologic disorder treatments for patients. It is headquartered in Cambridge, Massachusetts. Its P/E ratio is 15.99.
BPMC’s revenue rose from US$6.17 million to US$21.58 million YoY in the quarter ended March 31, 2021. It booked a net loss, applicable to common shareholders, of US$99.7 million, 10% less compared to a net loss of US$110.96 million in the corresponding quarter of 2020.
In June, the company received FDA approval for AVYAKITTM (avapritinib) for treating patients with advanced systemic mastocytosis.
The stock grew nearly 19% in the past year. It was trading at US$89.865, down 1.05%, as of June 28, 2021, at 10:40 am ET.
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Source: Pixabay
HCA Healthcare, Inc. (NYSE:HCA) is a Nashville, Tennessee-based healthcare provider and holding company. Its allied firms operated 186 hospitals, 121 surgery centers, and 21 endoscopy centers as of March 31, 2021. They also provide outpatient and ancillary services.
Its market capitalization is US$68.47 billion, and its P/E ratio is 15.48. Its revenue for the quarter ended March 31, 2021, was US$13.98 billion, compared to US$12.86 billion in the year-ago period. The company’s net income attributable to common shareholder was US$1.42 billion, 145% more compared to the net income of US$581 million in the same quarter of 2020.
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It plans to offer senior secured notes in the future for which BofA Securities and Wells Fargo Securities LLC are the joint book-running managers. The stock rose nearly 116% in the past year. It was trading at US$206.90, down 0.35%, at 11:10 am ET on June 28, 2021.
Jazz Pharmaceuticals plc (Ireland) (NASDAQ-GS: JAZZ) develops and markets drugs for sleeping disorders and hematology-oncology.
It is a Dublin-based company, and it has a market cap of US$11 billion. Its P/E ratio is 19.89.
The company earned revenue of US$607.58 million in the March quarter, 2021, compared to US$534.72 in the same quarter of the previous year. JAZZ’s net income was US$121.83 million against a net loss of US$157.83 million booked in the March quarter of 2020.
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On June 25, it announced that FDA recognized its Xywav™ drug, an oral solution for treating cataplexy or excessive daytime sleepiness (EDS) in patients of 7 years or more. Its stock price grew 65% in the past year, and it was trading at US$181.41 at 11:42 am ET on June 28, 2021.
Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
