Sectors & IndustriesHealthcare
Best Healthcare Stocks to Buy Now (2024)
Top healthcare stocks in 2024 ranked by overall Zen Score. See the best healthcare stocks to buy now, according to analyst forecasts for the healthcare sector.

Sector: Healthcare

Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Zen Score	Valuation Score	Financials Score	Forecast Score	Performance Score	Dividends Score
SMLR	SEMLER SCIENTIFIC INC	68	100	100	0	70	–
PGNY	PROGYNY INC	67	43	100	56	70	–
INMD	INMODE LTD	65	100	100	0	60	–
CORT	CORCEPT THERAPEUTICS INC	65	71	71	56	60	–
INCY	INCYTE CORP	64	86	86	56	30	–
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Healthcare Industries

Industry	Stocks	1d %	1w %	1m %	1y %	P/E ratio	P/B Ratio	ROE	ROA	ROCE	Upside/Downside	Consensus
Biotechnology	682	+2.73%	+3.18%	-7.19%	-21.03%	7.71x	6.02x	-68.56%	+3.07%	+21.74%	+84.82%	Strong Buy
Diagnostics & Research	66	+0.70%	-0.56%	-6.06%	-2.35%	38.50x	4.18x	-22.82%	+6.39%	+10.99%	+11.35%	Buy
Drug Manufacturers - General	17	+0.52%	+3.18%	-0.94%	+13.75%	151.40x	6.24x	+34.95%	+8.30%	+14.47%	+13.15%	Buy
Drug Manufacturers - Specialty & Generic	90	+0.48%	+3.46%	-1.40%	-6.22%	32.65x	2.12x	+11.34%	+2.71%	+5.06%	+33.93%	Strong Buy
Healthcare Plans	12	-0.30%	-2.39%	-5.75%	-2.55%	18.65x	2.84x	+19.97%	+6.14%	+14.20%	+17.58%	Buy
Health Information Services	61	+0.90%	-0.31%	-7.89%	-25.07%	75.21x	3.28x	+6.22%	+2.03%	+5.22%	+36.70%	Buy
Medical Care Facilities	51	+0.26%	-1.00%	-5.53%	+5.10%	-1.05x	4.40x	-80.36%	+6.53%	+13.61%	+17.61%	Buy
Medical Devices	154	+2.20%	+0.21%	-4.02%	-15.23%	30.19x	3.68x	+10.60%	+5.30%	+7.71%	+21.30%	Buy
Medical Distribution	9	-1.68%	-1.91%	-3.95%	+32.84%	25.61x	124.98x	-7.98%	+3.49%	+19.48%	+8.16%	Buy
Medical Instruments & Supplies	56	+0.51%	+0.32%	-3.15%	-12.42%	55.14x	3.53x	+11.66%	+7.78%	+10.33%	+20.96%	Buy

Healthcare Stocks FAQ

What are the best healthcare stocks to buy right now in May 2024?

According to Zen Score, the 3 best healthcare stocks to buy right now are:

1. Semler Scientific (NASDAQ:SMLR)

Semler Scientific (NASDAQ:SMLR) is the top healthcare stock with a Zen Score of 68, which is 43 points higher than the healthcare sector average of 25. It passed 21 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock lose -5.36% over the past year, overperforming other healthcare stocks by 5 percentage points.

2. Progyny (NASDAQ:PGNY)

Progyny (NASDAQ:PGNY) is the second best healthcare stock with a Zen Score of 67, which is 42 points higher than the healthcare sector average of 25. It passed 22 out of 33 due diligence checks and has strong fundamentals. Progyny has seen its stock lose -3.87% over the past year, overperforming other healthcare stocks by 6 percentage points.

Progyny has an average 1 year price target of $47.00, an upside of 45.56% from Progyny's current stock price of $32.29.

Progyny stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Progyny, 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.

3. Inmode (NASDAQ:INMD)

Inmode (NASDAQ:INMD) is the third best healthcare stock with a Zen Score of 65, which is 40 points higher than the healthcare sector average of 25. It passed 20 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -54.14% over the past year, underperforming other healthcare stocks by -44 percentage points.

Inmode has an average 1 year price target of $27.00, an upside of 56.61% from Inmode's current stock price of $17.24.

Inmode stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Inmode, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a Hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the healthcare stocks with highest dividends?

Out of 72 healthcare stocks that have issued dividends in the past year, the 3 healthcare stocks with the highest dividend yields are:

1. Mei Pharma (NASDAQ:MEIP)

Mei Pharma (NASDAQ:MEIP) has an annual dividend yield of 57.19%, which is 54 percentage points higher than the healthcare sector average of 2.8%.

Mei Pharma's dividend payout ratio of 58.9% indicates that its high dividend yield is sustainable for the long-term.

2. Siga Technologies (NASDAQ:SIGA)

Siga Technologies (NASDAQ:SIGA) has an annual dividend yield of 11.27%, which is 8 percentage points higher than the healthcare sector average of 2.8%.

Siga Technologies's dividend payout ratio of 47.4% indicates that its high dividend yield is sustainable for the long-term.

3. Spok Holdings (NASDAQ:SPOK)

Spok Holdings (NASDAQ:SPOK) has an annual dividend yield of 7.95%, which is 5 percentage points higher than the healthcare sector average of 2.8%. Spok Holdings's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Spok Holdings's dividend has shown consistent growth over the last 10 years.

Spok Holdings's dividend payout ratio of 158.2% indicates that its high dividend yield might not be sustainable for the long-term.

Why are healthcare stocks up?

Healthcare stocks were up 1.29% in the last day, and up 0.91% over the last week. Cytomx Therapeutics was the among the top gainers in the healthcare sector, gaining 214.72% yesterday.

CytomX Therapeutics shares are trading higher after the company announced that it will report Q1 2024 results and provide an initial CX-904 Phase 1a dose escalation update on May 8, 2024.

What are the most undervalued healthcare stocks?

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

1. Pacira Biosciences (NASDAQ:PCRX)

Pacira Biosciences (NASDAQ:PCRX) is the most undervalued healthcare stock based on WallStreetZen's Valuation Score. Pacira Biosciences has a valuation score of 100, which is 84 points higher than the healthcare sector average of 16. It passed 7 out of 7 valuation due diligence checks.

Pacira Biosciences's stock has dropped -42.17% in the past year. It has underperformed other stocks in the healthcare sector by -32 percentage points.

2. Inmode (NASDAQ:INMD)

Inmode (NASDAQ:INMD) is the second most undervalued healthcare stock based on WallStreetZen's Valuation Score. Inmode has a valuation score of 100, which is 84 points higher than the healthcare sector average of 16. It passed 7 out of 7 valuation due diligence checks.

Inmode's stock has dropped -54.14% in the past year. It has underperformed other stocks in the healthcare sector by -44 percentage points.

3. Semler Scientific (NASDAQ:SMLR)

Semler Scientific (NASDAQ:SMLR) is the third most undervalued healthcare stock based on WallStreetZen's Valuation Score. Semler Scientific has a valuation score of 100, which is 84 points higher than the healthcare sector average of 16. It passed 7 out of 7 valuation due diligence checks.

Semler Scientific's stock has dropped -5.36% in the past year. It has overperformed other stocks in the healthcare sector by 5 percentage points.

Are healthcare stocks a good buy now?

47.87% of healthcare stocks rated by analysts are a strong buy right now. On average, analysts expect healthcare stocks to rise by 37.59% over the next year.

What is the average p/e ratio of the healthcare sector?

The average P/E ratio of the healthcare sector is 70.86x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.