Top 3 healthcare stocks for February 2023
Here are 3 companies under strong accumulation.
Regeneron Pharmaceuticals, Inc. (REGN) analysis.
The first is biotech Regeneron Pharmaceuticals (REGN). The healthcare stock is up 8% in 2023.
Healthy institutional accumulation likely helped propel stocks higher, which you can see from the MAPsignals chart below. Since September there have been 6 unusually large volume inflows (green bars):
With a 12-month forward P/E of 18.5, stocks could be attractive after a pullback. According to FactSet, the company is expected to earn $46.01 per share in fiscal 2024.
One thing is for sure, the stocks have been in high demand lately.
Analysis of Stryker Corp. (SYK).
Next up is Stryker Corp. (SYK), a medical technology company engaged in orthopedics and spine (and beyond) segments. At MAPsignals we believe in tracking large institutional flows. With the stock gaining 15% in 2023, we believe healthy accumulation is part of the story.
Since the end of November, there have been 10 days when the stock jumped in price alongside outsized volumes. This may mean that there is an institutional interest:
The 12-month forward P/E is priced at 27.9X, according to FactSet. Also, the company is expected to earn $11.13 per share in fiscal 2024.
This unusual trading action suggests investors expect upside potential for the company in 2023.
Vertex Pharmaceuticals Inc. (VRTX) analysis.
The #3 healthcare company to climb this year is Vertex Pharma (VRTX). This biotech company is engaged in the development and manufacture of drugs for patients suffering from serious diseases. The market cap is just over $77 billion.
The stock has fallen recently but is up 4% in 2023. Specifically, stocks have seen three major accumulation signals since October:
This has been one of the highest rated stocks in our research for years.
Strong industry leadership could mean there’s more upside for the group in 2023.
REGN, SYK and VRTX make up 3 of the top healthcare stocks as of February 2023 so far. Healthy institutional accumulation signals are drawing these stocks particular attention.
The story goes on
To learn more about MAPsignals’ institutional process, please visit: www.mapsignals.com
Disclosure: As of the writing of this article, the author holds no positions in REGN, SYK, or VRTX at the time of writing this article.
This article was originally published on FX Empire
More from FXEMPIRE: