Stock Market Drop: 3 Cheap Healthcare Stocks to Buy Right Now
With the S&P 500 falling into bear market territory, you might wonder if investing right now is a good idea. It's impossible to predict when the market will hit bottom and then rebound. But one thing is for sure: After tough times, the market has always bounced back. So that means the best thing to do during a market downturn is actually to invest. You'll reap the rewards down the road.
Here, I'll talk about three healthcare stocks that are incredibly cheap right now. They've each posted double-digit declines since the start of the year. Let's take a closer look at why they're smart stocks to buy.
What I like most about Abbott Laboratories (NYSE: ABT) is its diversification. The company has four solid businesses: Medical devices, diagnostics, pharmaceuticals, and nutrition. Traditionally, the medical devices business has contributed most to revenue. At certain stages of the pandemic, though, device sales dipped as hospitals postponed procedures. At the same time, Abbott's vast array of coronavirus tests drove gains in the diagnostics business.
Source Fool.com
