Healthcare stocks are shares of companies that operate within the healthcare sector, such as pharmaceutical firms, medical device manufacturers, and healthcare service providers. These stocks can potentially generate significant returns for investors seeking to diversify their portfolios. However, it is important to note that investing in healthcare stocks also carries its own set of risks and challenges.
One of the key factors to consider when investing in healthcare stocks is the stability of the company. Healthcare is a constantly evolving industry and companies that can adapt to changing market conditions and regulatory environments are more likely to be successful in the long run. For example, pharmaceutical companies that are able to develop new drugs or bring existing drugs to new markets can potentially earn significant profits.
Similarly, medical device companies that are able to innovate and bring new products to market can also do well. It is important for investors to do their due diligence and research the track record of the company before investing in its stocks. With this in mind, let’s now look at three large-cap healthcare stocks to watch in the stock market in 2023.
Healthcare Stocks To Watch In 2023
Walgreens Boots Alliance Inc. (WBA Stock)
Starting off, Walgreens Boots Alliance (WBA) is a leading health and wellness company that operates globally, with a presence in over 25 countries. Its main focus is retail pharmacies, but it also has involvement in the pharmaceutical wholesale and distribution, and healthcare services industries.
Last month, Walgreens Boots Alliance, Inc. announced that it will report its Q1 2023 financial results this upcoming week, January 5, 2023, at 7 AM EST. The company will also hold a conference call at 8:30 AM EST with management to discuss the results.
Over the last month of trading, shares of WBA stock have dropped another 9.56%. As of this past Friday’s close, shares of Walgreen stock are trading at $37.36 a share.
Eli Lily and Co. (LLY Stock)
After that, let’s switch gears to Eli Lily and Company (LLY). For starters, Eli Lilly and Company is a pharmaceutical company that produces innovative drugs and therapies for various health conditions. Its product line includes treatments for oncology, diabetes, cardiovascular disease, and neuroscience, among others.
In December, Eli Lilly announced its financial projections for 2023 and plans to launch up to four new medicines. In detail, the company is projecting strong financial and operational performance in 2023, with anticipated volume-driven revenue growth and potential launches for several new drugs. Eli Lilly projects 2023 revenue to be between $30.3 billion and $30.8 billion, driven by key growth products, and expects 2023 EPS to be in the range of $7.65 to $7.85 on a reported basis and $8.10 to $8.30 on a non-GAAP basis.
Over the last month of trading action, shares of LLY stock are down a modest 1.21%. Meanwhile, as of Friday’s closing bell, Eli Lily & Co. stock closed the day trading at $366.63 a share.
UnitedHealth Group (UNH Stock)
Last but not least, UnitedHealth Group Inc. (UNH) is a diversified healthcare company. The company offers a variety of products and services through two business units: UnitedHealthcare and Optum. UnitedHealthcare provides health insurance and related services, while Optum offers healthcare services and innovation such as pharmacy benefit management and health information technology.
Just last month, UnitedHealth Group announced it will release its Q4 and full-year 2022 financial results on January 13, 2023. In addition, the company will hold a conference call at 8:45 AM EST to discuss the results with analysts and investors. The call will be available for streaming on the company’s investor relations page and will be available for replay through January 27.
Looking at the last month of trading action, UNH stock has fallen by a modest 1.25%. Meanwhile, looking at this week’s trading session, shares of UNH stock look set to open Tuesday morning at around $530.18 a share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.