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3 Healthcare Stocks to Buy on the Dip -Breaking

by Mike Robinson

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© Reuters. 3 Healthcare Stocks to Buy on the Dip

With the continuing spread of the COVID-19 Delta variant, the healthcare industry is continuing to enjoy investors’ attention. The industry is also expected to keep growing on the rising need for treatments for several chronic diseases. Therefore, we think it could be wise to bet on quality healthcare stocks Stryker (SYK), Boston Scientific (BSX), and ResMed (RMD), which are currently trading below their 52-week highs. Read on.As multiple coronavirus variants continue to be identified and drug makers seek approval for treatments, the healthcare industry is enjoying the market’s attention. This is evident in the Health Care Select Sector SPDR Fund’s (XLV) 13.5% year-to-date returns. So, amid current market volatility, we think it could be wise to bet on quality healthcare stocks because the sector is defensive and could add stability to one’s portfolio.

The prevalence of chronic diseases and an aging population are also expected to increase the need for healthcare solutions. According to a Techtic report, the global healthcare market is expected to reach $11.91 trillion by 2022.

So, we think it could be wise to bet on fundamentally sound healthcare stocks Stryker Corporation (NYSE:), Boston Scientific Corporation (NYSE:), and ResMed Inc. (RMD), which are trading below their 52-week highs now.

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