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Buy These 3 Healthcare Stocks to Keep Your Portfolio in Tip Top Shape

Stock Markets41 minutes ago (Apr 29, 2021 03:30PM ET)

(C) Reuters. Buy These 3 Healthcare Stocks to Keep Your Portfolio in Tip Top Shape

The U.S. healthcare industry is expected to grow solidly this year due to hefty federal and private investments. With COVID-19 infections expected to be vanquished by an ongoing, robust vaccination drive, we think it could be beneficial to bet on Laboratory Corporation (LH), Quest Diagnostics (DGX), and Charles River Laboratories (CRL). We think they are well positioned to capitalize on the industry tailwinds.The limitations of the global healthcare industry have been brought to light by the COVID-19 pandemic, and governments around the world are now trying to make up for the inadequacies. Primarily due to extensive investments and governmental aid provided to the U.S. healthcare industry, the nation is now ahead of schedule in a nationwide mass coronavirus vaccination program. Also, the Biden administration is taking active steps to reinstate the Affordable Care Act, which is expected to boost the domestic healthcare industry. Investors’ interest in healthcare stocks is evidenced by Health Care Select Sector SPDR Fund’s (XLV) 19.2% returns over the past six months.

According to National Health Expenditure (NHE) projections, national health spending is expected to hit $6.2 trillion by 2028. And because most people are expected to reschedule their delayed, non-emergency health care and operations in the near term, healthcare companies are expected to see solid growth this year. Furthermore, as the country adopts precautionary steps to ensure no fourth wave of coronavirus infections, these efforts should also contribute to the healthcare revenue industry’s growth in coming quarters.

So, it is wise to bet on healthcare companies Laboratory Corporation of America Holdings (NYSE:LH), Quest Diagnostics Incorporated (NYSE:DGX), and Charles River Laboratories International Inc. (CRL), They are well positioned to capitalize on the industry tailwinds.

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Buy These 3 Healthcare Stocks to Keep Your Portfolio in Tip Top Shape

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