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Top Medical Stocks to Buy for Growth & Performance
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The higher the broader indexes go, the more conscious investors will be of investments that may offer defensive safety. Because of the essentiality of health-related services this makes medical stocks worth monitoring in this regard.
Speaking to such, it's noteworthy that a slew of medical stocks are standing out among the Zacks Rank #1 (Strong Buy) list. Notably, here are a few of these highly-ranked medical stocks to consider for their growth and impressive price performances.
New Strong Buy Stocks: HALO and NBIX
The medical sector currently has 30 stocks that comprise spots on the Zacks Strong Buy list (231 total stocks) and Halozyme Therapeutics (HALO - Free Report) and Neurocrine Biosciences (NBIX - Free Report) are two of the new additions this week. HALO and NBIX have risen 40% in the last year and are two of the market’s top performers over the last decade soaring 442% and 920%, respectively.
Far from the speculator growth phase, Halozyme is a biopharmaceutical company focused on treatments for oncology indications by targeting the tumor microenvironment while Neurocrine provides novel therapeutics for treating neuro-related diseases and disorders.
Image Source: Zacks Investment Research
Halozyme’s valuation especially stands out, trading at 13.5X forward earnings with EPS projected to climb 41% this year to $3.90 compared to $2.77 a share last year. Better still, FY25 EPS is expected to increase by another 23%. Halozyme’s top line is forecasted to expand by double-digits as well with projections edging toward $1 billion.
Image Source: Zacks Investment Research
Similarly, Neurocrine’s growth trajectory has been very compelling as total sales are slated to rise over 15% in FY24 and FY25 with projections over $2 billion. Neurocrine’s increased profitability is even more mesmerizing as EPS is expected to skyrocket 71% this year to $4.22 versus $2.47 a share in 2023. More impressive, FY25 EPS is projected to soar another 58% to $6.69. Plus, earnings estimate revisions have trickled higher over the last 60 days.
Blood management solutions provider Haemonetics has been a recent fixture on the Zacks Rank #1 (Strong Buy) list, holding a spot since mid-June.
While Haemonetics stock has been virtually flat in the last year, HAE is up 30% over the last two years and has very respectable decade gains of 141%. Interestingly enough, this has been ample time to get in on Haemonetics stock at an attractive forward earnings multiple of 18.4X which is pleasantly beneath its decade-long high of 53.8X and a 28% discount to the median of 25.8X.
Image Source: Zacks Investment Research
Furthermore, Haemonetics is expecting double-digit EPS growth in its current FY25 and FY26. Serving as a viable long-term investment, Haemonetics’ integrated devices, information management, and consulting services cover each facet of the blood supply chain for clinics and hospitals.
Image Source: Zacks Investment Research
Bottom Line
The medical sector is crawling with opportunity as indicated in its representation on the Zacks Rank #1 (Strong Buy) list. Considering their impressive decade performances and continued expansion, Halozyme Therapeutics, Neurocrine Biosciences, and Haemonetics are three of these highly-ranked medical stocks that should be at the forefront of investors' attention.
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Top Medical Stocks to Buy for Growth & Performance
The higher the broader indexes go, the more conscious investors will be of investments that may offer defensive safety. Because of the essentiality of health-related services this makes medical stocks worth monitoring in this regard.
Speaking to such, it's noteworthy that a slew of medical stocks are standing out among the Zacks Rank #1 (Strong Buy) list. Notably, here are a few of these highly-ranked medical stocks to consider for their growth and impressive price performances.
New Strong Buy Stocks: HALO and NBIX
The medical sector currently has 30 stocks that comprise spots on the Zacks Strong Buy list (231 total stocks) and Halozyme Therapeutics (HALO - Free Report) and Neurocrine Biosciences (NBIX - Free Report) are two of the new additions this week. HALO and NBIX have risen 40% in the last year and are two of the market’s top performers over the last decade soaring 442% and 920%, respectively.
Far from the speculator growth phase, Halozyme is a biopharmaceutical company focused on treatments for oncology indications by targeting the tumor microenvironment while Neurocrine provides novel therapeutics for treating neuro-related diseases and disorders.
Image Source: Zacks Investment Research
Halozyme’s valuation especially stands out, trading at 13.5X forward earnings with EPS projected to climb 41% this year to $3.90 compared to $2.77 a share last year. Better still, FY25 EPS is expected to increase by another 23%. Halozyme’s top line is forecasted to expand by double-digits as well with projections edging toward $1 billion.
Image Source: Zacks Investment Research
Similarly, Neurocrine’s growth trajectory has been very compelling as total sales are slated to rise over 15% in FY24 and FY25 with projections over $2 billion. Neurocrine’s increased profitability is even more mesmerizing as EPS is expected to skyrocket 71% this year to $4.22 versus $2.47 a share in 2023. More impressive, FY25 EPS is projected to soar another 58% to $6.69. Plus, earnings estimate revisions have trickled higher over the last 60 days.
Image Source: Zacks Investment Research
Haemonetics (HAE - Free Report)
Blood management solutions provider Haemonetics has been a recent fixture on the Zacks Rank #1 (Strong Buy) list, holding a spot since mid-June.
While Haemonetics stock has been virtually flat in the last year, HAE is up 30% over the last two years and has very respectable decade gains of 141%. Interestingly enough, this has been ample time to get in on Haemonetics stock at an attractive forward earnings multiple of 18.4X which is pleasantly beneath its decade-long high of 53.8X and a 28% discount to the median of 25.8X.
Image Source: Zacks Investment Research
Furthermore, Haemonetics is expecting double-digit EPS growth in its current FY25 and FY26. Serving as a viable long-term investment, Haemonetics’ integrated devices, information management, and consulting services cover each facet of the blood supply chain for clinics and hospitals.
Image Source: Zacks Investment Research
Bottom Line
The medical sector is crawling with opportunity as indicated in its representation on the Zacks Rank #1 (Strong Buy) list. Considering their impressive decade performances and continued expansion, Halozyme Therapeutics, Neurocrine Biosciences, and Haemonetics are three of these highly-ranked medical stocks that should be at the forefront of investors' attention.