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.

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

Incyte (NASDAQ:INCY) is the top healthcare stock with a Zen Score of 75, which is 50 points higher than the healthcare sector average of 25. It passed 24 out of 33 due diligence checks and has strong fundamentals. Incyte has seen its stock lose -29.04% over the past year, underperforming other healthcare stocks by -16 percentage points.

Incyte has an average 1 year price target of $73.92, an upside of 38.89% from Incyte's current stock price of $53.22.

Incyte stock has a consensus Buy recommendation according to Wall Street analysts. Of the 12 analysts covering Incyte, 25% have issued a Strong Buy rating, 16.67% have issued a Buy, 58.33% have issued a Hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Harmony Biosciences Holdings (NASDAQ:HRMY) is the second best healthcare stock with a Zen Score of 70, which is 45 points higher than the healthcare sector average of 25. It passed 23 out of 33 due diligence checks and has strong fundamentals. Harmony Biosciences Holdings has seen its stock lose -10.7% over the past year, overperforming other healthcare stocks by 2 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $37.33, an upside of 25.36% from Harmony Biosciences Holdings's current stock price of $29.78.

Harmony Biosciences Holdings stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Harmony Biosciences Holdings, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a Hold, while 16.67% have issued a Sell rating, and 16.67% have issued a Strong Sell.

Bristol Myers Squibb Co (NYSE:BMY) is the third best healthcare stock with a Zen Score of 68, which is 43 points higher than the healthcare sector average of 25. It passed 25 out of 38 due diligence checks and has strong fundamentals. Bristol Myers Squibb Co has seen its stock lose -31.64% over the past year, underperforming other healthcare stocks by -19 percentage points.

Bristol Myers Squibb Co has an average 1 year price target of $56.00, an upside of 16.04% from Bristol Myers Squibb Co's current stock price of $48.26.

Bristol Myers Squibb Co stock has a consensus Hold recommendation according to Wall Street analysts. Of the 12 analysts covering Bristol Myers Squibb Co, 8.33% have issued a Strong Buy rating, 0% have issued a Buy, 83.33% have issued a Hold, while 0% have issued a Sell rating, and 8.33% have issued a Strong Sell.

Out of 73 healthcare stocks that have issued dividends in the past year, the 3 healthcare stocks with the highest dividend yields are:

Carisma Therapeutics (NASDAQ:CARM) has an annual dividend yield of N/A, which is N/A percentage points lower than the healthcare sector average of 2.83%.

Carisma Therapeutics's dividend payout ratio of 0% indicates that its dividend yield might not be sustainable for the long-term.

Mei Pharma (NASDAQ:MEIP) has an annual dividend yield of 54.69%, which is 52 percentage points higher than the healthcare sector average of 2.83%.

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

Siga Technologies (NASDAQ:SIGA) has an annual dividend yield of 11.76%, which is 9 percentage points higher than the healthcare sector average of 2.83%.

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

Healthcare stocks were down -0.53% in the last day, and down -5.14% over the last week. Calidi Biotherapeutics was the among the top losers in the healthcare sector, dropping -65.5% yesterday.

Calidi Biotherapeutics shares are trading lower after the company announced the pricing of a $6.1 million public offering.

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

Inmode (NASDAQ:INMD) is the most undervalued healthcare stock based on WallStreetZen's Valuation Score. Inmode has a valuation score of 100, which is 82 points higher than the healthcare sector average of 18. It passed 7 out of 7 valuation due diligence checks.

Inmode's stock has dropped -52.13% in the past year. It has underperformed other stocks in the healthcare sector by -39 percentage points.

Voyager Therapeutics (NASDAQ:VYGR) is the second most undervalued healthcare stock based on WallStreetZen's Valuation Score. Voyager Therapeutics has a valuation score of 100, which is 82 points higher than the healthcare sector average of 18. It passed 7 out of 7 valuation due diligence checks.

Voyager Therapeutics's stock has gained 0.76% in the past year. It has overperformed other stocks in the healthcare sector by 14 percentage points.

Orasure Technologies (NASDAQ:OSUR) is the third most undervalued healthcare stock based on WallStreetZen's Valuation Score. Orasure Technologies has a valuation score of 100, which is 82 points higher than the healthcare sector average of 18. It passed 7 out of 7 valuation due diligence checks.

Orasure Technologies's stock has dropped -23.12% in the past year. It has underperformed other stocks in the healthcare sector by -10 percentage points.