COVID-19 greatly impacted healthcare companies due to a drop in surgical procedures. Coupled with problems like staff shortages, reduced budgets, and slower supply chains, it is no wonder that many businesses crashed. However, as the effects of the pandemic began to reverse, things slowly returned to normal.
Some companies and their stocks have been doing quite well recently, such as EW, ABT, and DXCM. Investing in these medical device stocks right now will surely grow your portfolio. Let’s explore more details.
Edwards Lifesciences and Its Medical Device Stocks
Edwards Lifesciences (EL) is doing fairly well, and its medical device stocks are going up due to an increased need for devices that monitor heart conditions. This healthcare company created heart valves that prevent the need for open heart surgery. It has also launched new products that essentially guarantee a company boost, making its medical device stocks worth investing in.
If you study the company’s trends, you will notice that aside from some temporary troughs, the trajectory is rising. In the next five years, the company will grow more as it continues making more sales.
There is a need for heart-related medical devices in the market, and EL is playing a pivotal role in meeting this demand. Although its supplies were temporarily affected due to the pandemic, it has quickly resumed its operations. If you’re looking to make more money through medical device stocks, you should definitely consider investing in EL.
Abbott Laboratories Is Experiencing Growth
Abbott Laboratories (AL) is well-established in the medical world and has received FDA clearances for many medical devices. This is good news since people can finally treat various heart conditions. AL is following in EL’s footsteps by introducing medical devices that bypass open heart surgery. Additionally, it now also offers spinal cord stimulatory devices. These have ensured that the market cap has risen rapidly and will continue to do in the years to come.
With the introduction of a glucose monitoring device, Abbott Laboratories has played a crucial part in alleviating many symptoms of diabetes. If you want to purchase stocks in this company, you should know that the prospects are bright.
DexCom Sales Are Expected to Rise
DexCom plays a crucial role in alleviating symptoms of diabetes. As the number of diabetics is increasing, it has become increasingly important to create systems for diabetes treatment. The growth prospects look exceptional, and you can expect this company’s stocks to do well in the future. Due to the release of its latest product called G7, you can expect growth of up to 20% this year.
Final Verdict
Investing in companies doing well means their stocks will increase in value over time. However, choosing the right company with medical device stocks requires research and inquiry. For example, if you’re looking to earn through dividends, you can check a company’s past history to see how reliable they are at increasing their rates.
