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After a sub-par performance in 2021, healthcare stocks outperformed the S&P 500 in 2022. As well, 2023 is expected to be another promising year for the healthcare sector.

Moreover, healthcare also offers excellent long-term investment opportunities, with U.S. healthcare spending estimated to reach $6.8 trillion by 2030, according to the Centers for Medicare and Medicaid Services. Let’s take a look at the five best and worst performing healthcare stocks in January 2023.

Five Best Performing Healthcare Stocks in January 2023

We have taken the January return data of healthcare stocks from finviz.com to rank the five best and worst performing healthcare stocks in January 2023. We have only considered large-cap healthcare stocks for our list. Here were the five best performing healthcare stocks in January 2023.

5. BeiGene, Ltd. (BGNE) (16%)

BeiGene, Ltd. shares are up by almost 38% in the last three months, bringing their 12-month return to 14%. As of this writing, BeiGene shares have recently been seen trading at around $256 with a 52-week range of $118.18 to $280.62, giving the company a market capitalization of more than $27 billion. The company posted revenue of more than $9.10 billion in 2021, up from over $2.30 billion in 2020.

4. IDEXX Laboratories, Inc. (IDXX) (18%)

IDEXX Laboratories, Inc. shares are up by almost 36% in the last three months, bringing their 12-month return to -4%. IDEXX Laboratories shares have recently been seen trading at around $482 with a 52-week range of $317.06 to $560.92, giving the company a market capitalization of more than $39 billion. The company posted revenue of more than $3.20 billion in 2021, up from over $2.70 billion in 2020.

3. GE HealthCare Technologies Inc. (GEHC) (20%)

GE HealthCare Technologies Inc. provides medical technology, pharmaceutical diagnostics, and digital solutions. GE HealthCare shares have recently been seen trading at around $70 with a 52-week range of $53.00 to $73.95, giving the company a market capitalization of more than $32 billion. The company posted revenue of more than $17.50 billion in 2021, up from over $17.10 billion in 2020.

2. Align Technology, Inc. (ALGN) (34%)

Align Technology, Inc. shares are up by almost 99% in the last three months, bringing their 12-month return to -26%. Align Technology shares have recently been seen trading at around $343 with a 52-week range of $172.05 to $552.00, giving the company a market capitalization of more than $26 billion. The company posted revenue of more than $3.90 billion in 2021, up from over $2.40 billion in 2020.

1. Exact Sciences Corporation (EXAS) (38%)

Exact Sciences Corporation shares are up by over 88% in the last three months, bringing their 12-month return to -9%. Exact Sciences shares have recently been seen trading at around $67 with a 52-week range of $29.27 to $84.31, giving the company a market capitalization of more than $11 billion. The company posted revenue of more than $1.70 billion in 2021, up from over $1.40 billion in 2020.

Five Worst Performing Healthcare Stocks in January 2023

Now, let's move on to the five worst performing healthcare stocks in January 2023.

5. Neurocrine Biosciences, Inc. (NBIX) (-8%)

Neurocrine Biosciences, Inc. shares are down by over 11% in the last three months, bringing their 12-month return to over 33%. As of this writing, Neurocrine Biosciences shares have recently been seen trading at around $110 with a 52-week range of $75.25 to $129.29, giving the company a market capitalization of more than $10 billion. The company posted revenue of more than $1.10 billion in 2021, up from over $1 billion in 2020.

4. Centene Corporation (CNC) (-8%)

Centene Corporation shares are down by over 11% in the last three months, bringing their 12-month return to -10%. Centene shares have recently been seen trading at around $71 with a 52-week range of $71.94 to $98.53, giving the company a market capitalization of more than $40 billion. The company posted revenue of more than $125 billion in 2021, up from over $111 billion in 2020.

3. Baxter International Inc. (BAX) (-9%)

Baxter International Inc. shares are down by over 7% in the last three months, bringing their 12-month return to -46%. Baxter International shares have recently been seen trading at around $46 with a 52-week range of $43.25 to $89.70, giving the company a market capitalization of more than $23 billion. The company posted revenue of more than $12.70 billion in 2021, up from over $11.60 billion in 2020.

2. AbbVie Inc. (ABBV) (-9%)

AbbVie Inc. shares are down by almost 1% in the last three months, bringing their 12-month return to almost 3%. AbbVie shares have recently been seen trading at around $145 with a 52-week range of $134.09 to $175.91, giving the company a market capitalization of more than $256 billion. The company posted revenue of more than $56 billion in 2021, up from over $45 billion in 2020.

1. Pfizer Inc. (PFE) (-14%)

Pfizer Inc. shares are down by over 6% in the last three months, bringing their 12-month return to -16%. Pfizer shares have recently been seen trading at around $44 with a 52-week range of $41.45 to $56.32, giving the company a market capitalization of more than $247 billion. The company posted revenue of more than $81 billion in 2021, up from over $41 billion in 2020.

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