5 Best Healthcare Stocks For the Long-Term

In this piece, we will take a look at the five best healthcare stocks for the long term. If you want to learn more about the healthcare indsutry, then check out 12 Best Healthcare Stocks For the Long-Term.

5. Zymeworks Inc. (NASDAQ:ZYME)

Number of Hedge Fund Investors In Q3 2023: 20

Latest P/E Ratio: 2.79

5-Yr Average Annualized Revenue Growth: 51.45%

Zymeworks Inc. (NASDAQ:ZYME) is a Canadian biotechnology company developing cancer treatments. It’s quite a highly rated stock, as the shares are rated Strong Buy on average and analysts have set an average share price target of $13.02.

During Q3 2023, 20 out of the 910 hedge funds profiled by Insider Monkey had invested in Zymeworks Inc. (NASDAQ:ZYME).

4. Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Number of Hedge Fund Investors In Q3 2023: 24

Latest P/E Ratio: 13.11

5-Yr Average Annualized Revenue Growth: 318%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is an American company making treatments for nervous system disorders. The firm had a strong third quarter that saw it maintain its growth trajectory by posting 37% annual revenue growth.

By the end of this year’s third quarter, 24 out of the 910 hedge funds polled by Insider Monkey were the firm’s shareholders. Albert Cha and Frank Kung’s Vivo Capital was Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s biggest shareholder as it owned 2.6 million shares that are worth $85.4 million.

3. InMode Ltd. (NASDAQ:INMD)

Number of Hedge Fund Investors In Q3 2023: 24

Latest P/E Ratio: 11.25

5-Yr Average Annualized Revenue Growth: 53.41%

InMode Ltd. (NASDAQ:INMD) is an Israeli medical devices company that sells products that are used in the aesthetics medical industry segment. Its third quarter earnings were rather muted on the growth front as the company reported a paltry 2% annual revenue jump.

Insider Monkey dug through 910 hedge funds for their third quarter of 2023 shareholdings and found that 24 had bought InMode Ltd. (NASDAQ:INMD)’s shares.

2. Centene Corporation (NYSE:CNC)

Number of Hedge Fund Investors In Q3 2023: 53

Latest P/E Ratio: 16.63

5-Yr Average Annualized Revenue Growth: 24.47%

Centene Corporation (NYSE:CNC) is one of the biggest healthcare plan providers in America with more than 70,000 employees. The firm is doing well on the financial front lately as it has beaten analyst EPS estimates in all four of its latest quarters.

During this year’s September quarter, 53 out of the 910 hedge funds profiled by Insider Monkey had held a stake in the company. Out of these, the largest Centene Corporation (NYSE:CNC) shareholder was Quentin Koffey’s Politan Capital due to its $836 million investment.

1. The Cigna Group (NYSE:CI)

Number of Hedge Fund Investors In Q3 2023: 74

Latest P/E Ratio: 14.55

5-Yr Average Annualized Revenue Growth: 34.03%

The Cigna Group (NYSE:CI) is another healthcare plan provider and one of the oldest companies on our list since it was up in 1792. It too has beaten analyst EPS estimates in all four of its latest quarters and the stock is rated Buy on average.

74 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 database had bought and owned The Cigna Group (NYSE:CI)’s shares. Larry Robbins’ Glenview Capital owned 1.5 million shares that were worth $443 million, which made it the firm’s biggest investor.

Disclosure: None. You can also take a look at 20 Most Valuable Media Companies In The World and 20 States with the Highest Average Home Prices.

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