The healthcare sector encompasses a wide range of companies involved in medical services, pharmaceuticals, medical equipment, and health insurance. This sector is essential due to its direct impact on human health and well-being. It is known for its resilience, as healthcare demand often remains stable regardless of economic cycles. This sector is continuously evolving, driven by technological advancements and research breakthroughs.
Investing in healthcare stocks offers certain advantages. These stocks can provide stability, as the demand for healthcare services and products is relatively inelastic. This sector is also poised for long-term growth due to aging populations and increasing health awareness. However, there are also disadvantages. The healthcare industry is subject to stringent regulations, which can affect company profits. Additionally, high research and development costs, especially in the pharmaceutical sub-sector, can impact earnings.
Healthcare stocks also face unique market risks, such as patent expirations and drug approval uncertainties. These factors can lead to volatility in stock prices. Investors looking into this sector should have an understanding of these dynamics. With this being said, here are two healthcare stocks to watch in the stock market today.
Health Care Stocks To Watch Now
Eli Lilly & Co. (LLY Stock)
Firstly, Eli Lilly and Company (LLY) is a global pharmaceutical company with a significant presence in the healthcare industry. The company focuses on discovering, developing, and marketing pharmaceutical products, particularly in areas like endocrinology, oncology, and mental health. Eli Lilly is also known for its contributions to insulin production and treatments for diabetes, among other therapeutic areas.
Earlier this month, Eli Lilly & Co. announced its first-quarter 2024 dividend. Diving in, the company’s Board of Directors has declared a dividend for Q1 2024 of $1.30 per share on common stock. For context, this is a 15% increase in the company’s quarterly dividend. Furthermore, the dividend is payable on March 8, 2024, to shareholders of record on February 15, 2023.
In 2023 thus far, shares of LLY stock have advanced by 62.37%. Meanwhile, during Wednesday’s late morning trading session, Eli Lilly & Co. stock is trading higher on the day up 1.40% so far, trading at $592.64 a share.
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Merck & Company Inc. (MRK Stock)
Next, Merck & Company Inc. (MRK) is a global pharmaceutical company. Merck focuses on the development, manufacturing, and marketing of a wide range of innovative medicines, vaccines, and animal health products. The company has a strong focus on areas including oncology, infectious diseases, and cardiovascular health.
At the end of last month, Merck also announced its first quarter 2024 dividend. In detail, the company’s Board of Directors has declared a quarterly dividend of $0.77 per share on common stock. Moreover, the dividend will be payable on January 8, 2024, to shareholders of record on December 15, 2023.
Year-to-date, shares of MRK stock have pulled back by 5.39% so far. While, during Wednesday’s late morning trading session, Merck & Company stock is trading green up 0.77%, at $105.16 a share.
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