Update-1 We bought a little GEHealth (GEHC) and will add Ii our MedTech prospect list.. GEHC is leader in medical imaging and should benefit from healthcare demographics and advances in software a[plications for disease diagnosis and monitoring..
P/S is 1.54 with a Fwd PE of 15.
As we suggested in our last Healthcare Portfolio Playbook it might be time to look at the MedTech and Diagnostics sector because they still offer value and are poised for a recovery in 2024.Many of the stocks peaked in pre-pandemic times when medical procedures came to a standstill although many of the diagnostic companies had boom times. Here is a list of well known stocks we have owned or have recently purchased and are good prospects. We have written about about them in the past. MedTech offer good characteristics of growth stocks: ability to quickly recognize and implement of new technologies such as AI and genomics, significant capital resources for M&A and cost effective procedures for better patient care.
We will continue to seek out new companies and opportunities but for now this list includes some of the best and most followed.
Many MedTech stocks are stalled but we should get better guidance after Q3 and Q4 earnings. Look at Stryker up almost 20% YTD.
Trading notes: we sold IHI at about 52 on weak technicals. Here is post from 2014 on DX and Tools and have look at EXAS now in the ARKG.
LONG: ABT, BDX, HOLX, QDEL, SYK.
|Company||Ticker||PRICE 9/17/23||MktCap||% RET YTD||P/S||Fwd PE||RECOM|
|Fidelity MED Dev||FSMEX||-3.2|
|T.Rowe Price HS||PRHSX||-1.69|