The healthcare industry is ripe with highly profitable companies and businesses, making it an ideal landscape for driven investors looking to generate massive profits.
A solid investment strategy is to put money into companies with solid fundamentals and growth potential, and many companies in the healthcare sector fit this bill.
These two, in particular, are among the best healthcare stocks to buy right now.
- There are many profitable companies with solid fundamentals and growth potential within the healthcare industry, making it ideal to invest in.
- Pfizer is a leading biopharmaceutical company renowned for the quality of its medical solutions and vaccines. It also has several impressive subsidiaries.
- CVS Health is a leading healthcare solutions company with a chain of retail pharmacies. It is among the largest healthcare companies in the world.
This year, there have been several winners in the stock market, such as gold, tech, and banking stocks. While their success may have captured investor attention and sentiment, industries like healthcare will always be ideal to invest in due to their consistent levels of profitability.
As the second half of the year begins, investors looking to generate massive profits can do so by investing in healthcare stocks. Joel Lim, a financial analyst at Stockoptionscalculator.com, has identified two of the best healthcare stocks to buy if you want to make big profits in 2024.
Pfizer
Pfizer is an American biopharmaceutical company that specializes in discovering, developing, and delivering medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology. It has been in operation for 175 years and has become a major player in the American and global biopharmaceutical space.
Pfizer gained a lot of publicity at the height of the COVID-19 pandemic due to its line of products that helped combat the disease. Although the hype has reduced following the end of the pandemic, Pfizer generated record profit and revenue, which it has put to good use. A great example is the acquisition of high-profile cancer drugmaker Seagan for $43 billion.
Furthermore, Pfizer is one of the most profitable companies in the health sector. It has performed exceedingly well financially this year, as evidenced by its latest quarterly report. According to the report, Pfizer generated an impressive $14.9 billion in revenue only.
Joel Lim notes, “Not only is Pfizer extremely profitable, but it also provides one of the best dividend yields in the health sector at 5.6%.”
CVS Health
CVS Health is a leading healthcare solutions provider in America based in Woonsocket, Rhode Island. It is notable for several healthcare solutions, such as CVS Pharmacy, a retail pharmacy chain, and Aetna, a health insurance provider.
As the second largest healthcare company in the world, CVS Health is a no-brainer for investors interested in health stocks. Its profitability is off the charts, evidenced by its control over the prescription drug market. Last year, CVS Health accounted for over 25% of the prescription drug revenue among US pharmacy retailers.
Joel Lim notes, “CVS Health’s profitability and market dominance make it an ideal investment option among health stocks. It is also among the highest dividend payers in the industry.”
