Good stocks to buy for 2023? 3 health actions to know

Healthcare stocks are stocks of companies that operate in the healthcare sector, such as pharmaceutical companies, medical device manufacturers and healthcare service providers. These stocks can potentially generate significant returns for investors looking to diversify their portfolios. However, it is important to note that investing in healthcare stocks also comes with 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 an ever-evolving industry and companies that can adapt to changing market conditions and regulatory environments are more likely to be successful over the long term. For example, pharmaceutical companies that are able to develop new drugs or bring existing drugs to new markets can potentially make significant profits.

Likewise, 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 stock. With that in mind, let’s now look at three large-cap healthcare stocks to watch on the stock market in 2023.

Healthcare stocks to watch in 2023

Walgreens Boots Alliance Inc. (WBA stock)

Starting, Walgreens Boot Alliance (WBA) is a leading health and wellness company that operates globally, with a presence in more than 25 countries. It primarily focuses on retail pharmacies, but is also active in the wholesale and distribution of pharmaceuticals and healthcare services businesses.

Last month, Walgreens Boots Alliance, Inc. announced that it would release its first quarter 2023 financial results next week, January 5, 2023, at 7:00 a.m. EST. The company will also hold a conference call at 8:30 a.m. EST with management to discuss the results.

Over the past month of trading, WBA shares have fallen another 9.56%. As of last Friday’s close, Walgreen’s shares are trading at $37.36 per share.

Source: TD Ameritrade Terms of Service

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Eli Lily and Co. (LLY Stock)

After that, let’s go into high gear Eli Lily and company (THERE IS). 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 drugs. In detail, the company expects strong financial and operational performance in 2023, with anticipated volume-driven revenue growth and potential launches of several new drugs. Eli Lilly expects 2023 revenue to be between $30.3 billion and $30.8 billion, driven by key growth products, and expects 2023 EPS to be between 7.65 and $7.85 on a reported basis and between $8.10 and $8.30 on a non-GAAP basis.

In the last month of trading action, LLY shares were down a modest 1.21%. Meanwhile, at Friday’s close, shares of Eli Lily & Co. closed the day at $366.63 per share.

LLY stock chart
Source: TD Ameritrade Terms of Service

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UnitedHealth Group (UNH Action)

Finally and especially, 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 health services and innovations such as pharmacy benefit management and health information technology.

Last month, UnitedHealth Group announced that it would release its fourth quarter and full year 2022 financial results on January 13, 2023. Additionally, the company will host a conference call at 8:45 a.m. EST to discuss the results with analysts. and investors. The call will be available to stream on the company’s Investor Relations page and will be available for replay through January 27.

In the last month of trading action, UNH stock fell a modest 1.25%. Meanwhile, looking at this week’s trading session, UNH shares are expected to open Tuesday morning at around $530.18 per share.

UNH stock
Source: TD Ameritrade Terms of Use

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