Chronicle Journal: Finance

Are These Top Health Care Stocks Worth Watching Ahead Of March?

Looking For The Best Health Care Stocks To Watch Right Now? 4 Names To Know

You can’t deny that health care is a vital industry in the world we live in today. Similarly, health care stocks have and will likely continue to fill the same role in the stock market. With all eyes on the sector now, investors are no doubt looking for the best health care stocks to add to their portfolios. Whether it is general health care providers, medical devices companies, or even biotech giants, there are plenty of options available. This is great as companies that are focusing on improving our overall quality of life can raise capital to do so through selling their company shares. At the same time, investors stand to benefit from the positive developments of the life-enhancing industry. Like other industries, there are plenty of such developments and innovations popping up almost every other day.

This week, we saw Johnson & Johnson (NYSE: JNJ) receive yet another update on its single-dose COVID-19 vaccine candidate. According to the U.S. FDA, JNJ’s vaccine is generally safe and highly effective, bringing it another step closer to emergency use approval. Another major development this week would be from vaccine makers Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA). Simply put, the duo is bumping up their vaccine delivery goals over the next few weeks. With no shortage of excitement in the sector, could one of these top health care stocks be your next big investment?

Top Health Care Stocks To WatchOwens & Minor Inc.

Starting us off is global health care logistics company, Owens & Minor. The company offers product manufacturing, distribution support, and innovative technology services to its clients. Essentially, O&M not only manufactures its own surgical and personal protective equipment (PPE) but also ensures it reaches clients safely. Given O&M’s vertically integrated supply chain, the company would have more streamlined operations compared to its competitors. As you can imagine, OMI stock would be in the limelight now as a PPE supplier. In fact, it popped by over 29% during intraday trading yesterday after the company announced its latest financial results.

health care stocks (OMI stock)Source: TD Ameritrade TOS

In its fourth-quarter fiscal posted before yesterday’s opening bell, the company reported total revenue of $2.36 billion. This figure beat consensus estimates of about $2.16 billion. Additionally, O&M also reported earnings per share of $1.14, marking a 395% year-over-year increase, to investors’ delight. No doubt, strong demand for PPE from a strained healthcare system is among the primary drivers for this growth. In terms of numbers, O&M delivered over 12 billion PPE units to healthcare workers in 2020. Moving forward, the company estimates that its adjusted earnings will increase between 33% to 55% in 2021. O&M mentions that this would be due to operational efficiencies and continued demand for its products in the first half of 2021. Time will tell if this holds to be true, will you be watching OMI stock in the meantime?

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Icon plc

Another healthcare company making waves now would be Icon. The Ireland-based company is a global provider of outsourced drug and device development and commercialization services. Specifically, it does so for the pharmaceutical, biotech, and medical device industries. Icon also specializes in the strategic development, management, and analysis of programs that support clinical development. Its programs do have applications in Phase I through IV clinical studies which are vital milestones in the biotech industry. As an enabler to the massive biotech industry, ICLR stock would be on investors’ radars.

best health care stocks (ICLR stock)Source: TD Ameritrade TOS

Just yesterday, the company revealed that it will be acquiring PRA Health Sciences (NASDAQ: PRAH). Notably, PRA is one of the world’s leading global contract research organizations by revenue. Its clinical development and data solutions portfolio would synergize well with Icon’s existing services. The $12 billion cash and stock transaction would benefit clients across the board. This is because the duo would bring best-in-class health care intelligence and clinical research services to the table. According to Icon, the combined business will be amongst the top two in key clinical market segments and have partnerships within the top 20 biopharma companies in the world. Could this massive expansion bode well for ICLR stock moving forward? You tell me.

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BioNano Genomics Inc.

BioNano is a genome analysis company that provides tools and services based on its proprietary Saphyr system. It does so for scientists and clinicians conducting genetic research and patient testing. On top of that, BioNano offers diagnostic testing for patients with neurodevelopmental disabilities through its Lineagen business. BioNano’s Saphyr system is a research use-only platform for “ultra-sensitive and ultra-specific structural variation detection.” In practice, this accelerates the search process for new diagnostics and therapeutic targets in its clients’ research. Given that BioNano’s offerings present a more efficient way of conducting research, it is no surprise then that BNGO stock is up by over 50% year-to-date. Despite its current gains, the company does not seem to be slowing down any time soon.

top health care stocks to watch (BNGO stock)Source: TD Ameritrade TOS

Earlier this week, BioNano revealed a groundbreaking publication from its Lineagen team. In brief, the study is about a genome-wide model to assess and score nearly all the key genes related to central nervous system (CNS) diseases. The Neurogenic Systematic Correlation of Omics-Related Evidence (NeuroSCORE) helps researchers determine the likelihood of a particular gene causing CNS diseases. All in all, BioNano would stand to benefit from this first-of-its-kind diagnostic tool being picked up by CNS disease researchers. With that in mind, will you be adding BNGO stock to your March watchlist?

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Halozyme Therapeutics Inc.

Following that, we have Halozyme. The California-based biotech company develops cancer therapies that target the tumor microenvironment. Furthermore, the company licenses its proprietary drug delivery tech, Enhanze, to several leading healthcare companies. The likes of which include Pfizer, AbbVie (NYSE: ABBV), Eli Lilly (NYSE: LLY), and Bristol-Myers Squibb (NYSE: BMY). Regarding Enhanze, Halozyme suggests that it can reduce hours-long treatments to a matter of minutes. With its revolutionary tech being used by so many big names in the industry, I can see why investors would be watching HALO stock. More importantly, it surged by over 8% yesterday after Halozyme released its fourth-quarter earnings.

health care stocks to buy now (HALO stock)Source: TD Ameritrade TOS

Diving right into it, the company wowed investors by doubling its quarterly revenue compared to the year-ago quarter. Its bottom line also improved drastically as the company turned a profit of $73.2 million compared to a loss of $34.4 million in Q4 2019. CEO Dr. Helen Torley mentioned that product approvals powered by Enhanze played a critical role in the company’s performance this quarter. For 2021, the company expects royalties to double from 2020 levels. Dr. Torley said that Enhanze is “setting the potential for multiple waves of future product launches that will deliver long-term growth in revenues, profitability and cash flow.” Does this make HALO stock worth watching right now? I’ll let you decide.

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