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 -29.72% over the past year, underperforming other healthcare stocks by -20 percentage points.

Incyte has an average 1 year price target of $74.69, an upside of 44.53% from Incyte's current stock price of $51.68.

Incyte stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Incyte, 23.08% have issued a Strong Buy rating, 23.08% have issued a Buy, 53.85% 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 -7.45% over the past year, overperforming other healthcare stocks by 3 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $37.33, an upside of 27.33% from Harmony Biosciences Holdings's current stock price of $29.32.

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.

Semler Scientific (NASDAQ:SMLR) 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 21 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock lose -0.61% over the past year, overperforming other healthcare stocks by 10 percentage points.

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 2.84%.

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 57.38%, which is 55 percentage points higher than the healthcare sector average of 2.84%.

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 11.95%, which is 9 percentage points higher than the healthcare sector average of 2.84%.

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

Healthcare stocks were up 0.62% in the last day, and up 1.39% over the last week. Biodexa Pharmaceuticals was the among the top gainers in the healthcare sector, gaining 79.31% yesterday.

Biodexa shares are trading higher after the company entered an exclusive license agreement with Rapamycin Holdings for the rights to eRapa.

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

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 83 points higher than the healthcare sector average of 17. It passed 7 out of 7 valuation due diligence checks.

Pacira Biosciences's stock has dropped -40.25% in the past year. It has underperformed other stocks in the healthcare sector by -30 percentage points.

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 83 points higher than the healthcare sector average of 17. It passed 7 out of 7 valuation due diligence checks.

Inmode's stock has dropped -53.19% in the past year. It has underperformed other stocks in the healthcare sector by -43 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 83 points higher than the healthcare sector average of 17. It passed 7 out of 7 valuation due diligence checks.

Orasure Technologies's stock has dropped -19.88% in the past year. It has underperformed other stocks in the healthcare sector by -10 percentage points.