Are you looking for stable stocks to invest your money in right now? While no investment is completely risk-free, you don’t have to look far to find stable investments that can stand the test of time in your portfolio while helping you weather some of the extreme volatility that plagues the broader market.
Today, we are going to look at two such stocks from two very different industries. If you have $1,000 to invest, these companies are worth considering for your shopping list right now.
1. Vertex Pharmaceuticals
If you are not familiar with Vertex Pharmaceuticals (VRTX -0.46%), this healthcare stock is certainly one to put on your radar. The company develops and manufactures medicines that treat rare diseases.
At this time, it has four approved products and all of them treat cystic fibrosis. These products capture a staggering 97% of the cystic fibrosis treatment market. Note that this encapsulates an addressable market on track to hit $9.3 billion by 2026, according to Allied Market Research.
However, Vertex has many irons in the fire beyond the cystic fibrosis treatment space. The company’s pipeline currently includes candidates focusing on rare diseases ranging from beta thalassemia to sickle cell disease and Duchenne muscular dystrophy.
In the most recent quarter, Vertex reported revenue growth of 22% year over year, while its net income increased more than 1,100% over the same period in 2021. It also reported operating income of $1.1 billion, compared with an operating loss of $38 million in the same period of the previous year.
Vertex’s bottom line growth was driven by a combination of strong sales and a $900 million payout from its continued collaboration with CRISPR Therapeutics to develop targeted treatments for a variety of genetic diseases. The company ended the three-month period with $9.3 billion in cash, cash equivalents and marketable securities on its balance sheet.
And while the S&P 500 has generated a negative total return of approximately 17% over the past 12 months, shares of Vertex Pharmaceuticals have generated a total return of, expect, more than 50%.
Vertex’s continued market dominance in the multibillion-dollar cystic fibrosis treatment market, key advancements in its clinical portfolio, and continued strong financial results have all contributed to this skyward journey and make the stock a milestone. prominent competitor in the healthcare space. now that investors should not overlook.
2.Procter & Gamble
Procter & Gamble (PG -0.31%) is not an unknown name in the world of consumer staples stocks. Chances are you have at least some of the company’s products in your home right now.
From Downy to Pampers, Tide, Charmin, Dawn, Bounty and Swiffer, these everyday household staples that consumers need and use regularly, no matter what’s happening with the market or economy, are what gives a business like Procter and Gamble such tremendous staying power, even in an environment of high inflation and reeling in a recession.
In the company’s fiscal year 2022 (ended June 30), it reported net sales growth of 5% year over year, with diluted earnings per share up 6% and net earnings up 3%. That’s a solid clip for steady growth, value-oriented stocks like Procter & Gamble, particularly given the fact that the company has had to raise prices in several of its business segments to combat rising operating costs amid inflation.
The company ended the year with approximately $10.3 billion in cash and cash equivalents on its balance sheet.
Oh, did I mention the Procter and Gamble dividend? Not only is the company an illustrious dividend payer (66 years of consecutive dividend increases and counting), but its dividend has increased by more than 32% in the last five years alone.
Rachel Warren has no position in any of the mentioned stocks. The Motley Fool has positions and recommends CRISPR Therapeutics and Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.