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	–
HRMY	HARMONY BIOSCIENCES HOLDINGS INC	66	71	57	56	80	–
INMD	INMODE LTD	65	100	100	0	60	–
INCY	INCYTE CORP	64	86	86	56	30	–
NBIX	NEUROCRINE BIOSCIENCES INC	64	43	86	67	60	–
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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	-0.78%	-0.33%	-9.66%	-23.17%	14.91x	5.89x	-69.67%	+2.73%	+21.49%	+89.97%	Strong Buy
Diagnostics & Research	66	-1.73%	-1.59%	-6.72%	-3.04%	38.23x	4.16x	-21.83%	+6.49%	+11.14%	+12.17%	Buy
Drug Manufacturers - General	17	+1.78%	+2.25%	-1.45%	+13.16%	153.31x	6.20x	+34.53%	+7.95%	+14.08%	+12.91%	Buy
Drug Manufacturers - Specialty & Generic	90	+0.37%	+2.28%	-1.87%	-6.68%	33.40x	2.12x	+10.85%	+2.47%	+4.76%	+35.01%	Strong Buy
Healthcare Plans	12	-0.61%	-2.36%	-5.46%	-2.25%	18.54x	2.87x	+19.95%	+6.13%	+14.14%	+17.48%	Buy
Health Information Services	61	-1.74%	-1.86%	-8.71%	-25.75%	75.15x	3.25x	+6.51%	+2.28%	+5.50%	+39.64%	Buy
Medical Care Facilities	51	+0.58%	-1.21%	-5.78%	+4.83%	-1.46x	4.40x	-80.90%	+6.51%	+13.58%	+17.24%	Buy
Medical Devices	154	-1.63%	-1.97%	-6.08%	-17.08%	31.82x	3.69x	+10.58%	+5.25%	+7.74%	+23.82%	Buy
Medical Distribution	9	-0.52%	+0.10%	-2.31%	+35.12%	26.03x	148.08x	+18.42%	+3.51%	+19.67%	+6.33%	Buy
Medical Instruments & Supplies	56	-0.42%	-0.11%	-3.64%	-12.87%	47.86x	3.51x	+11.69%	+7.80%	+10.33%	+21.43%	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 -7.53% over the past year, overperforming other healthcare stocks by 4 percentage points.

2. Harmony Biosciences Holdings (NASDAQ:HRMY)

Harmony Biosciences Holdings (NASDAQ:HRMY) is the second best healthcare stock with a Zen Score of 66, which is 41 points higher than the healthcare sector average of 25. It passed 22 out of 33 due diligence checks and has strong fundamentals. Harmony Biosciences Holdings has seen its stock lose -5.65% over the past year, overperforming other healthcare stocks by 6 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $37.33, an upside of 20.78% from Harmony Biosciences Holdings's current stock price of $30.91.

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.

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 -54.27% over the past year, underperforming other healthcare stocks by -43 percentage points.

Inmode has an average 1 year price target of $27.00, an upside of 57.07% from Inmode's current stock price of $17.19.

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 57.38%, which is 55 percentage points higher than the healthcare sector average of 2.82%.

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 11.96%, which is 9 percentage points higher than the healthcare sector average of 2.82%.

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 8.09%, which is 5 percentage points higher than the healthcare sector average of 2.82%. 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 down?

Healthcare stocks were down -0.72% in the last day, and down -0.72% over the last week. Nrx Pharmaceuticals was the among the top losers in the healthcare sector, dropping -27.32% yesterday.

NRx Pharmaceuticals shares are trading lower after the company announced findings from its Phase 2b/3 trial of NRX-101 vs. Lurasidone.

What are the most undervalued healthcare stocks?

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

1. Inmode (NASDAQ:INMD)

Inmode (NASDAQ:INMD) is the 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 -54.27% in the past year. It has underperformed other stocks in the healthcare sector by -43 percentage points.

2. Pacira Biosciences (NASDAQ:PCRX)

Pacira Biosciences (NASDAQ:PCRX) is the second 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 -43.67% in the past year. It has underperformed other stocks in the healthcare sector by -32 percentage points.

3. Royalty Pharma (NASDAQ:RPRX)

Royalty Pharma (NASDAQ:RPRX) is the third most undervalued healthcare stock based on WallStreetZen's Valuation Score. Royalty Pharma 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.

Royalty Pharma's stock has dropped -21.6% in the past year. It has underperformed other stocks in the healthcare sector by -10 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 39.32% 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 72.44x.

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.