The health sector has two things to offer: new ideas and consistent returns. As a result, healthcare stocks will continue to be a good choice for investors looking for growth opportunities in 2024. The sector is valuable because it has stayed flexible and grown along with improvements in medical tools, treatment methods, and healthcare services all around the world.
This rapid rise sparked companies in the sector. It was also expected to raise living standards by offering new medical solutions. So, when we buy healthcare stocks in 2024, our attention isn’t just on the stocks themselves. Instead, the focus is on investing in the health and happiness of people around the world in the future.
It’s clear that healthcare stocks are appealing to people who want to spread their investments out. While AI investments are going crazy, healthcare is still a unique and important part of our lives, both on a personal level for each person and on an economic level for the whole economy. Adding healthcare stocks to your portfolio isn’t just a way to spread your risks; they also create investments on the ground that come from new ideas and changes in demographics.
As the American population ages, so will the demand for healthcare goods. This is why now is a great time to invest in these stocks because they can give you huge gains. Let’s look at three healthcare stocks that are especially well-positioned to do well in 2024. They are especially attractive in the middle of a population change.
CRISPR Therapeutics (CRSP)
Starting clinical studies for its CTX112 drug in people with systemic lupus erythematosus, Crispr Therapeutics (NASDAQ:CRSP) is at the forefront of healthcare innovation in 2024. The company’s approach is based on positive early trial results that show the possibility of long-lasting remissions. This is a big step forward in treating inflammatory illnesses.
In the area of immuno-oncology, CRISPR Therapeutics is expanding the kinds of studies it does. The company is continuing to test CTX131 in hematologic malignancies, such as T- and B-cell cancers, and is also still working on solid tumors. Also, CRISPR Therapeutics is making progress in changing genes inside living things with projects like CTX310 and CTX320, which are meant to lower signs of cardiovascular disease. These projects involve using human genetics to create new and effective one-time treatments.
CRISPR Therapeutics now has full control over gene-edited stem cell treatments for diabetes, including CTX211 for Type 1 Diabetes. This is because ViaCyte, Inc., a division of Vertex Pharmaceuticals, has ended a partnership deal. With this change, the company has more ways to possibly improve diabetes care.
Also, CRISPR Therapeutics is making progress with next-generation options like CTX110 and CTX130, which have shown promise in helping patients with full remissions.
The company’s drive to improve gene editing to make CAR T cells work better is evident. It shows how serious it is about making medical treatments better, aiming to help patients feel less tired.
Abbott Laboratories (ABT)
In 2024, Abbott Laboratories (NYSE:ABT) is making progress in the healthcare field by coming up with new medical technologies that set the standard. The company has come out with a new ablation device for people who have AFib that makes treatment more accurate. It has also made improvements to its FreeStyle Libre system, which makes managing diabetes easier for people who use it.
The company has also gotten FDA permission for its Liberta RC DBS System, which gives people with movement problems new ways to be treated. These advances in medical technology not only make care better for patients, but also show how good the company is at coming up with new ideas.
Abbott Laboratories’ latest financial report shows strong financial performance. The company has raised its dividend for 52 years, showing care for its finances and stock value. The company is financially stable with a $196.71 billion market valuation and $113.31 closing share price.
Abbott Laboratories saw a 17% rise in sales in the medical device sector. This was due to high demand for its new products like the Amplatzer Amulet and Navitor. A 31% rise in sales of FreeStyle Libre shows that a lot of people are using its diabetes care options.
Abbott Laboratories’ latest work emphasizes sustainability and social health. The company’s healthcare strategy is comprehensive. They created PROTALITY to assist individuals lose weight and the world’s tiniest recharge system for mobility problems. Ten years in Tanzania illustrate the company’s commitment to improving care worldwide, making it a healthcare star in 2024.
If you are looking for healthcare stocks in 2024, you will do well if you invest in this one.
Vertex Pharmaceuticals (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) is a pharmaceutical stock that you should know about in 2024. The forward-thinking biotech business has found a role in treating cystic fibrosis and other uncommon illnesses. Trikafta and Kalydeco, two of the company’s better-known drugs, have worked well because their stock prices keep going up. This shows that the company’s new therapies do work.
In their most recent financial report, Vertex said that it made $4.20 per share in the last quarter. This result not only beat predictions, but it was also a steady step up from the previous year. This company made $1.5 billion in sales during the quarter that finished in December 2023. Its share price had gone up by 22% over the last six months, showing excellent progress in a tough market.
Vertex is also full of a huge number of new projects. Looking at the new drug VX-548, which is now being sold by non-opioid painkillers. Even though the results of the phase 3 study were mixed, VX-548 was better than placebos at relieving pain faster. As a result, Vertex is showing the way to get rid of severe pain without the side effects that come with using opioids.
This is a great example of how science progress and business sense can work together. Healthcare buyers can see its way as an interesting story for 2024 because it deals with the problems of treating odd diseases.
On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.