4 Cutting-Edge Healthcare Stocks To Buy For 2021

The firm has been able to grow through acquisitions and joint ventures. It recently finalized a joint venture partnership with Orlando Health to boost its home health and home and community-based services. The company anticipates the joint venture to account for nearly $3.5 million in additional annual revenue. LHCG also had a pipeline of growth opportunities in the M&A space to provide future inorganic growth.

The stock has certainly performed well this year, up 62.4% year to date. Keep an eye on the stock tomorrow as it is expected to report earnings after the close. LHCG is rated a “Strong Buy” in our POWR Ratings system. It has grades of “A” for Trade Grade, Buy & Hold Grade, and Peer Grade, and a “B” for Industry Rank. The stock is also ranked #3 right after AMED in the Medical – Services industry.

Masimo Corporation (MASI - Get Rating)

The last stock on this list is a medical device business that focuses on noninvasive patient monitoring. The company started by developing signal processing algorithms that measure blood oxygenation levels through pulse oximetry. It has now expanded this know-how into various measurements and applications such as remote monitoring and hospital automation.

In critical care situations, pulse oximetry is often essential for patient monitoring. The company believes that it can improve patient care and reduce hospital costs, and is looking to expand its expertise to non-critical care applications, which should drive future growth. Another growth catalyst is its hospital automation program, which involves merging central monitoring with bedside vital sign systems. This service is a software-as-a-service (SAAS) business, which would provide recurring income at per-bed cost for hospitals of $1,000 to $5,000.

Another pipeline product that could generate substantial revenue is its Opioid SafetyNet solution, designed to monitor opioid overdose risk and alert emergency contacts if needed. MASI reported its latest financial results last week, with both earnings and revenues outperforming analyst expectations. The stock is rated a “Buy” in our POWR Ratings system, with a grade of “A” for Trade Grade and Peer Grade and a “B” for Buy & Hold Grade and Industry Rank. 

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