Baby boomers: Love ‘em or hate ‘em, the juggernaut generation changes every aspect of life it steamrolls through. Now it’s doing the same to healthcare. By 2030, every baby boomer will be 65 or older. Many will live well into their 80s, given that a 65-year-old currently can expect to live 18 more years.
Healthcare plays look particularly cheap right now because investors despise biopharma stocks. “Sector sentiment feels pretty close to an all-time low,” Baird biotech analyst Brian Skorney reports. Here are three timely health care stocks that reflect this theme — two that company insiders favor and one from Morningstar Direct, which does solid stock research.This drug maker is particularly strong in therapies for ailments that affect the elderly — including cancer, cardiovascular disease and diabetes. AstraZeneca’s AZN, -0.46% biggest business is cancer therapies. The company derives about 39% of its revenue from this area.
Another bullish factor: The company gets just 41% of its revenue from U.S. sales. This limits the potential impact of government price controls to some degree. Conover also assigns AstaZeneca a wide moat based on its patents and distribution network.If you know anyone who has gotten a hip or knee replacement, the chances are good they are now walking with help from a Zimmer Biomet ZBH, -1.17% product. The company makes orthopedic reconstructive products, mainly for knee and hip replacement.
“It’s early innings, frankly, both for ROSA as well as cementless,” CEO Ivan Tornos said on the latest earnings call. The Persona OsseoTi Keel Tibia launch has been hit by supply issues which will be resolved early in the first quarter of 2024, he says.In the current sell off, a cluster of Zimmer Biomet insiders purchased about $700,000 worth of stock in the $112-$120 range. Cluster-buys are a positive signal in insider analysis.
This is one reason that STAAR Surgical has been guiding down on growth, which has hurt the stock. But the new guidance is not terrible. The company expects to post 20% sales growth this year. “We believe we will continue to be a high-growth company beyond 2023 in the 15% to 20% range,” CEO Tom Frinzi says.
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