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Healthcare stocks show their defensive allure in ailing market

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The coronavirus pandemic is throwing a spotlight on stocks in the U.S. healthcare sector, home to the companies that could develop treatments, vaccines and improved diagnostics needed to tackle the greatest public health crisis in a century.

“A lot of these companies are working on a solution to the problem,” said Walter Todd, chief investment officer with Greenwood Capital in South Carolina. “We can debate what it means to them ... monetarily, but perception-wise they are viewed as a safe haven because of that.”

The purchases added to the firm’s overweight position in healthcare, although it has pared its sector holdings during the recent outperformance, Todd said.

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