5 Best Healthcare Stocks To Buy Now

In this article, we will take a look at the 5 best healthcare stocks to buy now. For more stocks, head on over to 15 Best Healthcare Stocks To Buy Now.

5. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 75

On May 19, AbbVie Inc. (NYSE:ABBV) announced that the US Food and Drug Administration (FDA) had approved its blood cancer therapy for adult patients. The therapy is targeted toward the treatment of advanced large B-cell lymphoma, a type of cancer in the white blood cells. According to FDA estimates, the disease impacts the lives of 150,000 patients around the world annually. The therapy will be available to the patients under the brand name Epkinly. The per-month price is currently listed at $37,500, and the average therapy duration is nine months. AbbVie Inc. (NYSE:ABBV) offers an annual forward dividend yield of 4.08% as of May 29.

Here’s what Baron Funds said about AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter:

“In a difficult quarter during which the Health Care sector failed to participate in the broader market rally, Baron Health Care Fund modestly trailed the Benchmark by 42 basis points, as disappointing stock selection overshadowed favorable impacts from differences in sub-industry weights and cash exposure. Lower exposure to benchmark heavyweight AbbVie Inc. (NYSE:ABBV) and declines in Cytokinetics, Incorporated, Ascendis Pharma A/S, and Inhibrx, Inc. also weighed on performance in the sub-industry. We reduced our position in AbbVie Inc. due to our less optimistic view of the company’s pipeline and long-term growth profile.”