Sectors & IndustriesHealthcareDiagnostics & Research

Best Diagnostic & Research Stocks to Buy Now (2024)

Top diagnostic & research stocks in 2024 ranked by overall Zen Score. See the best diagnostic & research stocks to buy now, according to analyst forecasts for the diagnostics & research industry.

According to Zen Score, the 3 best diagnostic & research stocks to buy right now are:

Icon (NASDAQ:ICLR) is the top diagnostic & research stock with a Zen Score of 50, which is 22 points higher than the diagnostic & research industry average of 28. It passed 16 out of 33 due diligence checks and has strong fundamentals. Icon has seen its stock return 55.61% over the past year, overperforming other diagnostic & research stocks by 57 percentage points.

Icon has an average 1 year price target of $344.38, an upside of 13.23% from Icon's current stock price of $304.14.

Icon stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Icon, 75% have issued a Strong Buy rating, 25% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Fonar (NASDAQ:FONR) is the second best diagnostic & research stock with a Zen Score of 47, which is 19 points higher than the diagnostic & research industry average of 28. It passed 14 out of 33 due diligence checks and has strong fundamentals. Fonar has seen its stock return 1.64% over the past year, overperforming other diagnostic & research stocks by 3 percentage points.

Star Equity Holdings (NASDAQ:STRR) is the third best diagnostic & research stock with a Zen Score of 46, which is 18 points higher than the diagnostic & research industry average of 28. It passed 18 out of 38 due diligence checks and has strong fundamentals. Star Equity Holdings has seen its stock return 33.57% over the past year, overperforming other diagnostic & research stocks by 35 percentage points.

Out of 7 diagnostic & research stocks that have issued dividends in the past year, the 3 diagnostic & research stocks with the highest dividend yields are:

Qiagen Nv (NYSE:QGEN) has an annual dividend yield of 3.03%, which is 2 percentage points higher than the diagnostic & research industry average of 1.35%.

Qiagen Nv's dividend payout ratio of 85.3% indicates that its dividend yield is sustainable for the long-term.

Quest Diagnostics (NYSE:DGX) has an annual dividend yield of 2.06%, which is 1 percentage points higher than the diagnostic & research industry average of 1.35%. Quest Diagnostics's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Quest Diagnostics's dividend has shown consistent growth over the last 10 years.

Quest Diagnostics's dividend payout ratio of 38.2% indicates that its dividend yield is sustainable for the long-term.

Laboratory Of America Holdings (NYSE:LH) has an annual dividend yield of 1.41%, which is the same as the diagnostic & research industry average of 1.35%. Laboratory Of America Holdings's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Laboratory Of America Holdings's dividend has not shown consistent growth over the last 10 years.

Laboratory Of America Holdings's dividend payout ratio of 60% indicates that its dividend yield is sustainable for the long-term.

Diagnostic & research stocks were up 1.22% in the last day, and up 4.07% over the last week. Quest Diagnostics was the among the top gainers in the diagnostics & research industry, gaining 3.9% yesterday.

Quest Diagnostics shares are trading higher. The FDA reportedly finalized its rules that aim to bring lab-developed tests in line with how it oversees other diagnostics.

Based on WallStreetZen's Valuation Score, the 3 most undervalued diagnostic & research stocks right now are:

Star Equity Holdings (NASDAQ:STRR) is the most undervalued diagnostic & research stock based on WallStreetZen's Valuation Score. Star Equity Holdings has a valuation score of 71, which is 50 points higher than the diagnostic & research industry average of 21. It passed 5 out of 7 valuation due diligence checks.

Star Equity Holdings's stock has gained 33.57% in the past year. It has overperformed other stocks in the diagnostic & research industry by 35 percentage points.

Enzo Biochem (NYSE:ENZ) is the second most undervalued diagnostic & research stock based on WallStreetZen's Valuation Score. Enzo Biochem has a valuation score of 71, which is 50 points higher than the diagnostic & research industry average of 21. It passed 5 out of 7 valuation due diligence checks.

Enzo Biochem's stock has dropped -57.09% in the past year. It has underperformed other stocks in the diagnostic & research industry by -56 percentage points.

Icon (NASDAQ:ICLR) is the third most undervalued diagnostic & research stock based on WallStreetZen's Valuation Score. Icon has a valuation score of 71, which is 50 points higher than the diagnostic & research industry average of 21. It passed 5 out of 7 valuation due diligence checks.

Icon's stock has gained 55.61% in the past year. It has overperformed other stocks in the diagnostic & research industry by 57 percentage points.