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Good Stocks To Buy For 2023? 3 Healthcare Stocks To Know

Are these top health care companies on your radar for 2023?

good stocks to buy for 2023 health care stocks

Healthcare stocks are shares of companies that operate within the healthcare sector, such as pharmaceutical firms, medical device manufacturers, and healthcare service providers. These stocks can potentially generate significant returns for investors seeking to diversify their portfolios. However, it is important to note that investing in healthcare stocks also carries its own set of risks and challenges.

One of the key factors to consider when investing in healthcare stocks is the stability of the company. Healthcare is a constantly evolving industry and companies that can adapt to changing market conditions and regulatory environments are more likely to be successful in the long run. For example, pharmaceutical companies that are able to develop new drugs or bring existing drugs to new markets can potentially earn significant profits.

Similarly, medical device companies that are able to innovate and bring new products to market can also do well. It is important for investors to do their due diligence and research the track record of the company before investing in its stocks. With this in mind, let’s now look at three large-cap healthcare stocks to watch in the stock market in 2023.

Healthcare Stocks To Watch In 2023

Walgreens Boots Alliance Inc. (WBA Stock)

Starting off, Walgreens Boots Alliance (WBA) is a leading health and wellness company that operates globally, with a presence in over 25 countries. Its main focus is retail pharmacies, but it also has involvement in the pharmaceutical wholesale and distribution, and healthcare services industries.

Last month, Walgreens Boots Alliance, Inc. announced that it will report its Q1 2023 financial results this upcoming week, January 5, 2023, at 7 AM EST. The company will also hold a conference call at 8:30 AM EST with management to discuss the results.

Over the last month of trading, shares of WBA stock have dropped another 9.56%. As of this past Friday’s close, shares of Walgreen stock are trading at $37.36 a share.

Source: TD Ameritrade TOS

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Eli Lily and Co. (LLY Stock)

After that, let’s switch gears to Eli Lily and Company (LLY). For starters, Eli Lilly and Company is a pharmaceutical company that produces innovative drugs and therapies for various health conditions. Its product line includes treatments for oncology, diabetes, cardiovascular disease, and neuroscience, among others.

In December, Eli Lilly announced its financial projections for 2023 and plans to launch up to four new medicines. In detail, the company is projecting strong financial and operational performance in 2023, with anticipated volume-driven revenue growth and potential launches for several new drugs. Eli Lilly projects 2023 revenue to be between $30.3 billion and $30.8 billion, driven by key growth products, and expects 2023 EPS to be in the range of $7.65 to $7.85 on a reported basis and $8.10 to $8.30 on a non-GAAP basis.

Over the last month of trading action, shares of LLY stock are down a modest 1.21%. Meanwhile, as of Friday’s closing bell, Eli Lily & Co. stock closed the day trading at $366.63 a share.

Source: TD Ameritrade TOS

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UnitedHealth Group (UNH Stock)

Last but not least, UnitedHealth Group Inc. (UNH) is a diversified healthcare company. The company offers a variety of products and services through two business units: UnitedHealthcare and Optum. UnitedHealthcare provides health insurance and related services, while Optum offers healthcare services and innovation such as pharmacy benefit management and health information technology.

Just last month, UnitedHealth Group announced it will release its Q4 and full-year 2022 financial results on January 13, 2023. In addition, the company will hold a conference call at 8:45 AM EST to discuss the results with analysts and investors. The call will be available for streaming on the company’s investor relations page and will be available for replay through January 27.

Looking at the last month of trading action, UNH stock has fallen by a modest 1.25%. Meanwhile, looking at this week’s trading session, shares of UNH stock look set to open Tuesday morning at around $530.18 a share.

Source: TD Ameritrade TOS

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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