Sectors & IndustriesHealthcareDiagnostics & Research

Best Diagnostic & Research Stocks to Buy Now (2023)

Top diagnostic & research stocks in 2023 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:

Syneos Health (NASDAQ:SYNH) is the top diagnostic & research stock with a Zen Score of 53, which is 23 points higher than the diagnostic & research industry average of 30. It passed 17 out of 33 due diligence checks and has strong fundamentals. Syneos Health has seen its stock lose -59.29% over the past year, underperforming other diagnostic & research stocks by -43 percentage points.

Syneos Health has an average 1 year price target of $48.75, an upside of 44.06% from Syneos Health's current stock price of $33.84.

Syneos Health stock has a consensus Hold recommendation according to Wall Street analysts. Of the 10 analysts covering Syneos Health, 10% have issued a Strong Buy rating, 10% have issued a Buy, 60% have issued a hold, while 0% have issued a Sell rating, and 20% have issued a Strong Sell.

Dexcom (NASDAQ:DXCM) is the second best diagnostic & research stock with a Zen Score of 53, which is 23 points higher than the diagnostic & research industry average of 30. It passed 18 out of 33 due diligence checks and has strong fundamentals. Dexcom has seen its stock lose -1.01% over the past year, overperforming other diagnostic & research stocks by 16 percentage points.

Dexcom has an average 1 year price target of $175.57, an upside of 52.67% from Dexcom's current stock price of $115.00.

Dexcom stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 14 analysts covering Dexcom, 42.86% have issued a Strong Buy rating, 35.71% have issued a Buy, 21.43% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Medpace Holdings (NASDAQ:MEDP) is the third best diagnostic & research stock with a Zen Score of 50, which is 20 points higher than the diagnostic & research industry average of 30. It passed 17 out of 33 due diligence checks and has strong fundamentals. Medpace Holdings has seen its stock return 7.55% over the past year, overperforming other diagnostic & research stocks by 24 percentage points.

Medpace Holdings has an average 1 year price target of $233.00, an upside of 30.33% from Medpace Holdings's current stock price of $178.78.

Medpace Holdings stock has a consensus Hold recommendation according to Wall Street analysts. Of the 3 analysts covering Medpace Holdings, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 9 diagnostic & research stocks that have issued dividends in the past year, the 3 diagnostic & research stocks with the highest dividend yields are:

Koninklijke Philips Nv (NYSE:PHG) has an annual dividend yield of 5.89%, which is 4 percentage points higher than the diagnostic & research industry average of 1.86%. Koninklijke Philips Nv's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Koninklijke Philips Nv's dividend has not shown consistent growth over the last 10 years.

Koninklijke Philips Nv's dividend payout ratio of -49.3% indicates that its high dividend yield might not be sustainable for the long-term.

Psychemedics (NASDAQ:PMD) has an annual dividend yield of 4.16%, which is 2 percentage points higher than the diagnostic & research industry average of 1.86%. Psychemedics's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Psychemedics's dividend has not shown consistent growth over the last 10 years.

Psychemedics's dividend payout ratio of -52.8% indicates that its dividend yield might not be sustainable for the long-term.

Quest Diagnostics (NYSE:DGX) has an annual dividend yield of 1.97%, which is the same as the diagnostic & research industry average of 1.86%. 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 32.6% indicates that its dividend yield is sustainable for the long-term.

Diagnostic & research stocks were down -2.42% in the last day, and up 0.43% over the last week.

We couldn't find a catalyst for why diagnostic & research stocks are down.

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

Syneos Health (NASDAQ:SYNH) is the most undervalued diagnostic & research stock based on WallStreetZen's Valuation Score. Syneos Health has a valuation score of 86, which is 57 points higher than the diagnostic & research industry average of 29. It passed 6 out of 7 valuation due diligence checks.

Syneos Health's stock has dropped -59.29% in the past year. It has underperformed other stocks in the diagnostic & research industry by -43 percentage points.

Laboratory Of America Holdings (NYSE:LH) is the second most undervalued diagnostic & research stock based on WallStreetZen's Valuation Score. Laboratory Of America Holdings has a valuation score of 57, which is 28 points higher than the diagnostic & research industry average of 29. It passed 4 out of 7 valuation due diligence checks.

Laboratory Of America Holdings's stock has dropped -21.79% in the past year. It has underperformed other stocks in the diagnostic & research industry by -5 percentage points.

Fulgent Genetics (NASDAQ:FLGT) is the third most undervalued diagnostic & research stock based on WallStreetZen's Valuation Score. Fulgent Genetics has a valuation score of 57, which is 28 points higher than the diagnostic & research industry average of 29. It passed 4 out of 7 valuation due diligence checks.

Fulgent Genetics's stock has dropped -52% in the past year. It has underperformed other stocks in the diagnostic & research industry by -35 percentage points.