The healthcare industry is in the limelight again, due in part to the rapid spread of the COVID-19 omicron variant, which has increased the demand for virtual healthcare of late. According to MDPI, 89% of patients view…
telemedicine as an acceptable form of medical care.
In addition, the sedentary lifestyles of many people have increased chronic health issues. Also, the rapid tech integration in the healthcare industry has delivered medical breakthroughs for treating chronic and life-threatening ailments. In addition, investors’ interest in this industry is evident in the Health Care Select Sector SPDR Fund’s (XLV) 5.3% returns over the past three months.
So, we think it could be wise to add recently upgraded healthcare stocks McKesson Corporation (MCK – Get Rating), Henry Schein, Inc. (HSIC – Get Rating), and Tivity Health, Inc. (TVTY – Get Rating) to one’s watchlist.
San Francisco-based MCK offers healthcare supply chain management, retail pharmacy, community oncology, and specialty care and healthcare information solutions globally. It has four segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions. Credit Suisse recently upgraded the stock’s rating to ‘Outperform.’
On Nov. 1, 2021, Brian Tyler, CEO of MCK, said, “We remain committed to investing in our growth strategies of biopharma services and oncology ecosystems, while simultaneously increasing shareholder returns.”
MCK’s revenues increased 9.5% year-over-year to $66.58 billion in its fiscal 2022 second quarter, ended Sept. 30, 2021. Its total current assets were $45.58 billion for the period ended Sept. 30, 2021, compared to $45.38 billion for the period ended March 31, 2021. Also, its total liabilities, redeemable noncontrolling interests, and equity (deficit) was $63.6 billion the period ended Sept. 30, 2021, compared to $65.02 billion for the period ended Sept.30, 2021.
For its fiscal 2022, MCK’s revenue is expected to grow 9.1% year-over-year to $259.96 billion. Its EPS is estimated to increase 32% year-over-year to $22.71 in fiscal 2022. It surpassed the EPS estimates in each of the trailing four quarters. And over the past year, the stock has gained 36.5% in price to close Friday’s session at $249.76.
MCK has an overall A rating, which equates to a Strong Buy in our proprietary rating system. In addition, it has a B grade for Growth, Value, Stability, and Sentiment. MCK is ranked #1 of 88 stocks in the Medical – Services industry. Click here to see the additional POWR Ratings for MCK (Momentum and Quality).
HSIC provides health care products and services to dental practitioners and laboratories, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. The Melville, N.Y.-based company has two segments, Health Care Distribution; Technology; and Value-Added Services. Analysts at Credit Suisse Group recently upgraded it from “neutral” to an “outperform.”
On Dec. 1, 2021, Henry Schein Orthodontics, the orthodontics business of HSIC, announced the launch of…
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