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

by Ozva Admin
Good Stocks To Buy For 2023? 3 Healthcare Stocks To Know

Healthcare stocks are shares of companies that operate in the healthcare industry, such as pharmaceutical companies, medical device manufacturers, and healthcare service providers. These stocks can potentially generate significant returns for investors looking to diversify their portfolios. However, it is important to note that investing in health actions it also comes with 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 an ever-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 can develop new drugs or bring existing drugs to new markets can make significant profits.

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

Healthcare Actions to Consider in 2023

Walgreens Boots Alliance Inc. (WBA stock)

Starting, Walgreens Boot Alliance (WBA) is a leading health and wellness company operating globally, with a presence in more than 25 countries. Its primary focus is retail pharmacies, but it also has interests in the healthcare and wholesale services and pharmaceutical distribution industries.

Last month, Walgreens Boots Alliance, Inc. announced that it will report its first quarter 2023 financial results next 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 past month of trading, WBA shares have fallen another 9.56%. As of Friday’s close, Walgreen’s shares were trading at $37.36 per share.

WBA actions
Source: TD Ameritrade TOS

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Eli Lily and Co. (LLY shares)

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

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

During the past month of trading action, LLY shares fell a modest 1.21%. Meanwhile, as of Friday’s close, shares of Eli Lily & Co. ended the day trading at $366.63 per share.

LLY stock chart
Source: TD Ameritrade TOS

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UnitedHealth Group (UNH shares)

Last but not least, United Health 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 health care and innovation services, such as pharmacy benefit management and health information technology.

Last month, UnitedHealth Group announced that it will release its fourth-quarter and full-year 2022 financial results on January 13, 2023. In addition, the company will hold a conference call at 8:45 am ET 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 to play through January 27.

Looking at the past month of trading action, UNH shares have fallen a modest 1.25%. In the meantime, looking at this week’s trading session, it looks like UNH shares will open Tuesday morning at around $530.18 per share.

UNH shares
Source: TD Ameritrade TOS

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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