8 healthcare stocks to explore in July

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8 healthcare stocks to explore in July

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Summary

  • These companies are engaged in a range of activities, from drug development to health insurance.
  • The healthcare sector has seen a steady growth momentum during the pandemic.
  • Many healthcare companies witnessed 100% in their share prices.

Prices of healthcare stocks have gone up sharply since last year. Healthcare companies are engaged in developing and commercializing drugs, providing medical care, insurance, nursing, manufacturing medical equipment & devices and running hospitals. Although healthcare is a non-cyclical industry, it received a major push on account of the novel coronavirus, which continues to plague the nations.

Here we explore eight healthcare stocks that may grow bigger.

Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) is a biopharmaceutical company to create differentiated and small molecule medicines for genetically defined diseases.

Its market capitalization is US$3.45 billion, and its P/E ratio is 2.46.

AGIO’s March quarter revenue was US$ 41.4 million compared to US$ 87.1 million for the corresponding quarter, 2020.

Its net income was US$ 1.9 billion for the March quarter, 2021, compared to a net loss of US$ 40.3 million for the same quarter in the previous year. The reason for increased net income was the sale of its oncology business to Servier.

Its stock gained nearly 24% year to date.

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Source: Pixabay.

Progyny, Inc. Common Stock (NASDAQ: PGNY) has a market capitalization of US$5.39 billion and a P/E ratio of 106.89. Progyny, a benefits management company, provides fertility and family building benefits solutions. In 2016, it started a fertility benefit solution with five employer clients and now have reached over 180 employer clients.

Its revenue for the quarter ended March 31, 2021, was US$ 122 million, 51% up year over year. It comprised of fertility and pharmacy benefit services revenue. The net income was US$ 15 million in March quarter, 2021, compared to US$ 3.6 million in the same quarter the prior year.

The stock rose 37% year to date. It closed at US$59 on June 30, 2021.

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The Cooper Companies, Inc. (NYSE: COO) is a medical device company. It has two operating segments: Cooper Vision and Cooper Surgical for soft contact lenses and women's health and fertility, respectively.

COO has a market capitalization of US$ 19.87 billion, and the P/E ratio is 8.51.

The company's net sales were US$719.5 million for the quarter ended April 30, 2021, 37% year over year growth. Net income for the same quarter was US$117.5 million compared to US$11.5 million in the year-ago period. The stock price increased by 11% year to date.

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Intellia Therapeutics, Inc. (NASDAQ: NTLA) is a clinical-stage genome editing company. Its focus is on developing proprietary, potentially curative therapeutics applying CRISPR/Cas9. Its latest revenue was generated from technology access fees and payments for licenses, research funding, and milestone payments from its collaboration with Novartis and Regeneron.

Its market capitalization is US$11.56 billion.

The company's revenue for the quarter ended March 2021, US$6.45 million compared to 12.9 million in the previous year March quarter. It booked a net loss of US$ 46.2 million in March quarter 2021 compared to US$ 31.8 million in the same quarter 2020.

NTLA stock rose 190% year to date. It closed at US$161.91 on June 30, 2021.

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Inari Medical, Inc. (NASDAQ: NARI) is a commercial-stage medical device company focusing on treating venous diseases. It launched its IPO in 2020.

Its market capitalization is US$ 4.76 billion, and its P/E ratio is 435.64.

For the quarter ended March 31, 2021, its revenue was US$ 57.4 million compared to revenue of US$ 27 million in the same quarter the previous year. Its net income was US$ 7.5 million for March quarter 2021 compared to US$ 4.1 million for the previous year same quarter.

Its stock witnessed a 10% growth year to date at the closing price of US$93.28 on June 30, 2021.

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Source: Pixabay

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Protagonist Therapeutics, Inc. (NASDAQ: PTGX) is a clinical-stage biopharmaceuticals company. Its proprietary technology platform is used to discover and develop peptide-based drugs to address significant unmet medical needs.

It has a market capitalization of US$ 2.2 billion.

The company reported revenue of US$ 6.18 million for the March quarter of 2021 compared to US$ 3.65 million in the same quarter in 2020. The revenue came from the license and collaboration of related parties.

PTGX net income was US$ 24 million for the March quarter compared to US$ 20 million in March quarter previous year.

Its stock price grew 129% year to date. The stock closed at US$44.88 on June 30.

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Cardinal Health, Inc. Common Stock (NYSE: CAH)
is a healthcare service and product company that provides customized solutions for healthcare systems, hospitals and pharmacies, laboratories and physician offices with pharmaceutical and medical products and other cost-effective solutions.

It has a market capitalization of US$ 16.8 billion, and the P/E ratio is 14.86.

Its revenue was US$ 39.3 billion for the quarter ended March 31, 2021, which is the company's third quarter, compared to US$ 39.2 billion in the same quarter in 2020.

Its net income was US$ 119 million for March quarter 2021 compared to US$350 million in the corresponding quarter previous year.

CAH's stock price increased nearly 8% year to date, witnessing ups and downs since the beginning of this year.

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Elanco Animal Health Incorporated (NYSE: ELAN) is an animal health company engaged in innovating, developing, manufacturing, and marketing products for animals.

Its market capitalization is US$ 16.55 billion.

Its revenue was US$ 1.24 billion for the quarter ended March 2021 compared to US$ 658 million in the same quarter in 2020. It booked a net loss of US$61 million in March quarter 2021 compared to a net loss of US$49 million in the corresponding quarter previous year.

The stock price grew nearly 14% year to date. It closed at US$34.69 on June 30, 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.

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