Check Out These Health Care Stocks In The Stock Market Today
Given the current volatility in the market, some investors may be looking to rotate into lower-risk sectors of the stock market. Hence, health care stocks could be worth considering. This is because regardless of the economic cycle, demand for health care will always remain. As long as there is sickness, such as in the case of the Covid pandemic, health care companies will be striving to search for a cure. Finding a cure, by extension, could then lead to major tailwinds for health care companies.
Take Regeneron (NASDAQ: REGN) for instance. Over the weekend, the biotech firm and Sanofi (NASDAQ: SNY) posted another upbeat round of data from their phase 3 trial. Evidently, the trial showed that its Dupixent (dupilumab) drug significantly improved symptoms of eosinophilic oesophagitis (EoE) at 24 weeks. Elsewhere, biotech firm Rani Therapeutics (NASDAQ: RANI) recently announced the development of a high-capacity oral biologics device, named the RaniPill HC (High Capacity). This device is capable of delivering up to 500% higher drug payload than its current oral biologics capsules. Given the exciting developments in the health care space, do you have these five health care stocks to watch in the stock market today?
5 Health Care Stocks To Watch Right Now
- Novavax Inc. (NASDAQ: NVAX)
- IntriCon Corporation (NASDAQ: IIN)
- Teladoc Health Inc. (NYSE: TDOC)
- Eli Lilly and Company (NYSE: LLY)
- Moderna Inc. (NASDAQ: MRNA)
Novavax is a clinical-stage vaccine company. In brief, it specializes in recombinant nanoparticle vaccines and adjuvants. By leveraging its recombinant nanoparticle vaccine technology, it produces vaccine candidates to respond to both known and newly emerging diseases. The company’s vaccine, thus far, has been authorized for use in the European Union, Australia, Canada, and the United Kingdom, among other markets.
Yesterday, the company announced its latest earnings report. In 2021, Novavax reported a revenue of $1.1 billion, a huge leap from $476 million in the prior year. The company also expects between $4 billion to $5 billion in sales this year, which is in alignment with the consensus estimates for $4.7 billion.
Financials aside, the company announced that its protein-based vaccine, NVX-CoV2373, was able to protect and maintain an overall efficacy of 82.7% over a six-month period. Besides that, Novavax also expects to apply for full approval of its Covid-19 vaccine by the second half of the year. With things seemingly looking promising for Novavax, should you be eyeing NVAX stock?
Intricon is an international joint development manufacturer (JDM). The company engages in integrating components and assemblies for the advancement of micro-medical technology. It serves as a partner to medical device OEMs by designing and manufacturing medical devices. Specifically, these devices include miniature interventional, implantable, and body-worn medical devices. The company also has facilities in the U.S., Asia, and Europe. In the past month, IIN stock has risen by over 50% in price.
Just yesterday, the company agreed to be acquired by an affiliate of Altaris Capital Partners. Altaris is an investment firm that focuses exclusively on the healthcare industry. Under the terms of the agreement, Altaris will acquire all remaining shares of the company at $24.25 per share.
That values the acquisition at about $241 million. This acquisition will effectively allow Intricon to further accelerate the advancement of its JDM capabilities across a broader range of high growth markets. All in all, with this acquisition in the works, do you think IIN stock is worth watching?
Another top healthcare name is Teladoc Health. For the most part, it is a multinational telemedicine and virtual health care company. Being a global leader in virtual care, it offers technology to connect and provide everyone with access to the best health care. By using its proprietary health signals and personalized interactions, the company drives better health outcomes across the full spectrum of care. Earlier last month, the company reported that its fourth-quarter revenue grew 45% year-over-year to $554.2 million. This was driven by the increase in total visits by 41% to 4.4 million.
On top of that, just yesterday, Teladoc Health announced a collaboration with Amazon (NASDAQ: AMZN). Notably, Teladoc’s virtual care experience will be integrated into Amazon’s virtual assistant Alexa.
This feature will be available on Amazon’s Echo line of devices. Customers in the U.S. will now be able to connect with a Teladoc care provider simply through voice activation. Evidently, this provides an innovative and convenient way for users to connect with a medical professional for general medical needs. With that being said, will you buy TDOC stock?
Eli Lilly and Company
Eli Lilly and Company (LLY) is a leading pharmaceutical firm that has operations that span across the globe. For a sense of scale, the company has offices in 18 countries while its products are sold in approximately 125 countries. In brief, the company’s portfolio includes treatments for various diseases including diabetes, cancer, endocrine-related illnesses, and Covid-19 to name a few.
Last Thursday, the Food and Drug Administration (FDA) approved LLY’s Jardiance (empagliflozin) drug. The drug was developed with partner Boehringer Ingelheim, a German pharmaceutical company. Accordingly, the U.S. health regulator approved the expanded use of the drug for all patients with heart failure.
This helps to reduce the risk of death and hospitalization in patients. Additionally, this expansion now increases the market size for empagliflozin to cover a very large pool of patients. This is approximately 6.2 million patients, according to CDC data. With the expanded use of this drug, is LLY stock a buy?
Finally, we have Moderna, a company most of us are likely familiar with. It is a pharmaceutical and biotechnology company that focuses on messenger RNA (mRNA) therapeutics and vaccines. The company has a broad intellectual portfolio in mRNA and lipid nanoparticle formulation. Furthermore, it also has an integrated manufacturing plant that facilitates both clinical and commercial production at scale and at an unprecedented speed.
On February 24, Moderna reported stellar fourth-quarter earnings that blew analysts’ earnings and revenue estimates. Namely, it raked in earnings per share of $11.29 against the $9.90 analysts were expecting.
Accordingly, that amounts to $4.9 billion in net income for the quarter. As for revenue, the biotech firm raked in $7.2 billion, surpassing consensus estimates of $6.78 billion. The company also expects to bring in $19 billion in vaccine sales this year, an increase of $2 billion from its previous expectations. Given the company’s prospects, is MRNA stock one for the watchlist?