The stock market is a place where investors buy and sell shares of publicly traded companies. It offers opportunities for individuals and institutions to invest in various sectors of the economy. The market’s performance is influenced by economic conditions, company earnings, and global events. Investing in stocks can provide potential for capital growth and income through dividends. However, it also carries risks, including market volatility and potential loss of investment.
The healthcare sector is a significant component of the stock market. It encompasses a wide range of companies, from pharmaceutical giants to medical device manufacturers. Healthcare stocks represent businesses involved in medical research, drug development, hospital management, and health insurance. This sector is known for its potential stability and growth, driven by constant demand for healthcare services.
Investing in healthcare stocks can offer several advantages. These include potential long-term growth due to an aging population and medical advancements. Healthcare companies often provide steady dividends, making them attractive to income-focused investors. However, the sector faces challenges too. Regulatory changes can impact profitability. Drug development carries high costs and risks of failure. Healthcare stocks can be volatile due to political discussions around healthcare reform. Bearing this in mind, let’s explore two healthcare stocks to watch in the stock market today following their most recent quarterly earnings reports.
Healthcare Stocks To Buy [Or Avoid] Today
Abbott Laboratories (ABT Stock)
Abbott Laboratories (ABT) is a global healthcare company with a diverse portfolio of products. It focuses on diagnostics, medical devices, nutrition, and branded generic pharmaceuticals. Abbott develops and manufactures a wide range of healthcare products for both consumers and healthcare professionals.
This morning, Abbott Laboratories announced better-than-expected Q2 2024 financial results. In detail, the healthcare company reported earnings of $1.14 per share versus earnings estimates of $1.10 per share. Additionally, the company notched in revenue of $10.38 for the quarter. This is compared to consensus revenue estimates of $10.35 billion. Moreover, the company said it anticipates Q3 earnings in the range of $1.18 to $1.22 per share.
In 2024 thus far, shares of ABT stock have decreased by 4.71%. Meanwhile, during Thursday morning’s early trading session, Abbott Laboratories stock is trading down by 4.26%, at $100.21 a share.
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Novartis AG (NVS Stock)
Next up, Novartis AG (NVS) is a multinational pharmaceutical company. It specializes in developing, manufacturing, and marketing prescription drugs, over-the-counter medications, and eye care products. Novartis is known for its strong presence in both innovative medicines and generic drugs.
Novartis also announced its most recent second quarter of 2024 financial results. Diving right in, the company reported earnings per share of $1.97, with revenue of $12.51 billion. Additionally, the company also reported its Q2 free cash flow came in at $4.6 billion, up 40% year-over-year. Moreover, the company also raised its full-year 2024 guidance.
Year-to-date, shares of Novartis AG stock have jumped higher by 10.69% so far. While, during Thursday’s early morning trading session, NVS stock is trading lower by 4.11% at $107.00 a share.
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