The coronavirus pandemic has put the global economy into a recession sending the stock prices to new lows every week. With a declining market and falling prices, several businesses have faced huge losses due to the economic fallout in the current coronavirus shutdown situation. While that being said, businesses operating in a few specific sectors closely associated with the response to COVID 19, have seen a significant rise in revenues and returns due to a rise in the demand for their services and products.
One of the key sectors associated with the fight against the coronavirus pandemic is the healthcare sector, and it is one of the best times to look into and buy healthcare stocks. While there are plenty of companies operating in the sector and various stocks available for you to buy, you need to do your due diligence before making an investment. An intelligent investment depends upon wise decisions and expert analysis of the market with reference to research and data statistics.
Here are the top three healthcare stocks you can look into and invest in, as these stocks are the safest and soundest investment in the current market right now.
Amidst the COVID-19 outbreak, telehealth services have become hot stocks. With previous telehealth restrictions imposed in the U.S., there has been a surge in the demand for such services.
Teladoc is one of the primary telehealth service providers and quite naturally its stock gained considerably in the recent pandemic situation. It has been reporting incredible growth figures with fourth-quarter revenues increasing to $156.5 million, a 27% increase from last year. The total number of visits increased by 44% to 1.2 million.
Bristol Myers Squibb
Another great investment opportunity for value and dividend-focused investors in the healthcare sector is Bristol Myers Squibb (NYSE: BMY). The company is a large pharmaceutical giant that reported a 15.4% increase in revenue in 2019, with a 3.4% dividend yield. The company trades at a pretty inexpensive valuation, with a P/E of 24.8.
Gilead Sciences is a company associated with the treatment of COVID 19, with its Ebola treating antiviral named Remdesivir, which has been effective in treating symptoms of Coronavirus.
It is also a leader in the HIV market, with a $4.6 billion revenue in 2019, up by almost 12%, with a 3.7% dividend yield.
These stocks can be the most intelligent and sound investments amidst this virus stricken tumbling market, with chances of best returns and reduced losses for investors.