As an investor in the stock market, health care stocks are always enticing. After all, medical care is a necessity for everyone at some point. This could range from the usage of drugs, surgeries, and even medical insurance. So if you’re one who believes in investing in what you know, health care is usually quite relatable. Besides that, there are economic reasons behind investing in health care stocks as well. For many years now, health care costs have exceeded the rate of inflation. National health spending in the U.S. is projected to reach $6.2 trillion by 2028.

In this day and age, any company with exciting new developments often sees strong bullish movements in its stock price. Take Novavax Inc (NASDAQ: NVAX) as a prime example. Its COVID-19 vaccine has not even received FDA authorization. But its stock price has already risen by over 900% in the past year. On top of that, it is exciting for investors to monitor the development of the company’s plans to combine the COVID-19 vaccine and flu vaccine into a single shot. Imagine the explosion of growth for the company once all its products obtain the necessary approvals and enter the market. Considering all these, let us look at some of the top health care stocks in the stock market today.

First, to make the list, we have UnitedHealth Group. The company is a health and well-being company that operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. Being one of the largest market cap companies in the health care industry, UnitedHealth is committed to developing the next-generation health system. This includes the improvement of health care access and affordability, enhancing the health care experience, and achieving better health outcomes for individuals it serves. UNH stock has been on a bullish run for the past year, rising by over 40% in the period.

The company announced its first-quarter earnings report in April. Revenues grew by 9% to $70.2 billion, largely led by growth at Optum and UnitedHealthcare. Furthermore, earnings from operations grew by an impressive 35% to $6.7 billion. The company is now focusing on encouraging and helping people to obtain the care they need, including vaccinations. Also in April, the Ohio Department of Medicaid chose UnitedHealthcare to serve individuals covered by Medicaid.

Now, people in Ohio will have access to UnitedHealthcare’s comprehensive and preventive health and wellness programs. Given how much growth potential resides with the company, would you add UNH stock to your watchlist?

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Ultragenyx Pharmaceutical Inc. is a clinical-stage biopharmaceutical company. In summary, the company focuses on the management of genetic diseases. The company has built a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical needs and clear biology for treatment. Ultragenyx markets three drugs, Crysvita, Mepsevii, and Dojolvi. RARE stock has been trading sideways since the start of the year. However, it has risen over 9% after the company announced its first-quarter earnings report on Wednesday.

In the first quarter, revenue came in 173.7% higher year over year to $99.4 million. This is driven by strong launches for Dojolvi and Crysvita. Out of which, Crysvita’s total revenues were $46.0 million, up 46.3% year over year. This increase was driven by demand from pediatric and adult patients with X-linked hypophosphatemia and patients with tumor-induced osteomalacia. Ultragenyx also announced in April the successful completion of an End-of-Phase 2 meeting with the U.S. FDA for the DTX301 ornithine transcarbamylase deficiency gene therapy program. The Phase 3 study is expected to begin dosing as planned in the second half of 2021. Hence, with these exciting developments, could this be an opportunity to buy RARE stock now?

Next up, we have the pharmacy health care company, CVS Health. It owns the popular CVS Pharmacy retail chain. Also, the company has been a major provider of COVID-19 vaccines and recently began offering same-day appointments for the shots. CVS announced this week that it allows same-day scheduling, including appointments as soon as one hour from the time of scheduling. The company has surpassed 17 million COVID-19 vaccine doses administered. Second dose compliance is more than 90% at CVS Health locations.

CVS is yet another company that has reported its earnings this week. It reported a strong $69.1 billion in revenue, which outpaced analysts’ expectations of $68.39 billion. Also, net income was $2.22 billion, up by 10.4% from a year earlier. Despite having lower front store sales in the first quarter, CVS still manages to maintain its healthy growth. This is likely boosted by its participation in COVID-19 testings and vaccinations.

Furthermore, the company is constantly exploring the potential for technology-enabled innovations in digital health care. In line with this, the company launched a $100 million venture fund in late April. This fund will invest in and partner with high-potential, early-stage companies focused on making health care more accessible, affordable, and simpler. With all these in mind, would this make CVS stock a health care stock to watch?

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Last on the list, we have the biotech company, BioCryst. It focuses on the treatment of rare diseases. BioCryst designs and develops small molecule drugs that block enzymes involved in the pathogenesis of the disease. BCRX stock soared by 20.97% on Thursday’s trading session. This is following its announcement on its first-quarter earnings update. Investor appears to be responding favorably to the reported total revenue of $19.1 million, double that of the consensus of Wall Street revenue estimate. The strong sales of the drug Orladevo appear to be the driving force of its strong quarter. It is a drug for the treatment of hereditary angioedema.

In April, the company received two huge boosts for the aforementioned drug. It received approval for usage from the Japanese National Health Insurance System. This makes Orladeyo the first and only approved prophylactic therapy for hereditary angioedema in Japan. Also, it received approval for the same drug from the European Commission for patients 12 years and older. These developments will allow physicians to offer new treatment options for their patients as well as preventive therapies. So, given the rapid adoption of the company’s product globally, is BCRX stock worth investing in?

Source: Stockmarket.com

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