Mar 02, 2021 (StockMarket.com via COMTEX) -- Are These Top Health Care Stocks Worth Investing In Now? 4 To Consider
The health care industry has and continues to play a crucial role in our world today. Because of this, investors continue to turn towards the top health care stocks on the market. It is not surprising that most would be paying more attention to their overall health amidst these times. No doubt, as we are approaching the one-year mark for the current pandemic, health care remains crucial as ever.
The healthcare names we often hear about are the likes of vaccine superstars such as Moderna ( NASDAQ: MRNA ). Another newcomer in that department would be Johnson & Johnson ( NYSE: JNJ ) who just got U.S. FDA approval for its single-dose vaccine. Aside from that, innovations in the health care space are still plentiful outside of coronavirus-related research as well. Take AstraZeneca ( NASDAQ: AZN ) for example. Yes, it does have a vaccine candidate, but it recently sold its 7.7% stake in Moderna for almost $1 billion. From this, the company is looking to finance its acquisition of Alexion Pharmaceuticals ( NASDAQ: ALXN ) to expand its rare disease drug portfolio. As such, there is no shortage of entry points into the industry. On that note, here are four health care stocks to consider right now.
Best Health Care Stocks Watch Right Now
Dentsply Sirona Inc. ( NASDAQ: XRAY )
Quidel Corporation ( NASDAQ: QDEL )
Perrigo Company ( NYSE: PRGO )
Veeva Systems Inc. ( NYSE: VEEV )
Dentsply Sirona Inc.
Starting us off is medical equipment company, Dentsply Sirona. In summary, it is the world's largest manufacturer of dental equipment and products. Through its world-class portfolio, Dentsply offers a full suite of restorative dental offerings and technology. This ranges from 3D imaging systems to consumable oral health solutions. Safe to say, Dentsply is no newcomer to the industry with over a century of experience catering to patients worldwide. The company also provides dental professionals with comprehensive end-to-end solutions. More importantly, XRAY stock shot up by over 12% during intraday trading yesterday. This does line up with its recent quarter fiscal announced before this week's opening bell.
In it, the company posted an earnings per share of $0.45 on revenue of $1.08 billion for the quarter. Admirably, Dentsply exceeded Wall Street consensus estimates on both of these figures. CEO Don Casey cited strong operational performance from Dentsply's team as a key driver of this growth. Given the significant pandemic-related impacts on the global dental market, Dentsply continues to show resilience.
Moving forward, Dentsply's latest acquisition of clear aligner company Byte should help accelerate its 2021 growth as it enters the growing aligner market. Time will tell if Dentsply can make the most of a recovering global dental market this year. In the meantime, would you consider adding XRAY stock to your portfolio?
Another top health care company in focus now would be Quidel. In brief, the company manufactures diagnostic health care products. Notably, it is the company behind the first COVID-19 antigen test to receive emergency use approval (EUA) from the U.S. FDA. If that wasn't enough, the company also got a EUA for its severe acute respiratory syndrome (SARS) rapid test kit back in December. Similarly, QDEL stock is on investors' radars again this week as it just received yet another regulatory update from the FDA.
In detail, it was revealed that Quidel received another EUA. This time, it is for its Quidel QuickVue At-Home COVID-19 Test. As the name suggests, it is a rapid COVID-19 test kit which the general population can use at home. For one thing, the test does not require laboratory analysis to produce results. This provides another groundbreaking means of fighting the pandemic. In turn, this would mean yet another stream of revenue for the company.