In this article, we will take a look at the 5 best healthcare stocks for the long term. You can skip this part and go to 10 Best Healthcare Stocks For the Long Term.
5. AbCellera Biologics Inc. (NASDAQ:ABCL)
PE Ratio (TTM): 12.15
Number of Hedge Fund Holders: 26
AbCellera Biologics Inc. (NASDAQ:ABCL) is a Canadian biotech company. AbCellera Biologics Inc. (NASDAQ:ABCL) is operating in the human antibodies space. Earlier in December AbCellera Biologics Inc. (NASDAQ:ABCL) rose to limelight after it signed a multi-target strategic collaboration with AbbVie (NYSE:ABBV) to discover antibody therapies. According to the deal AbCellera Biologics Inc. (NASDAQ:ABCL)’s antibody discovery and development engine will be used to make development candidates for up to five targets selected by AbbVie across multiple indications.
Hedge funds are piling into this healthcare stock which seems a promising pick for the long term. As of the end of the September quarter, 26 hedge funds reported having stakes in AbCellera Biologics Inc. (NASDAQ:ABCL), compared to 17 funds in the previous quarter. The total value of these stakes was $313 million. The biggest stakeholder of AbCellera Biologics Inc. (NASDAQ:ABCL) was Julian Baker and Felix Baker’s Baker Bros. Advisors, which owns a stake worth over $103 million in AbCellera Biologics Inc. (NASDAQ:ABCL).
4. Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)
PE Ratio (TTM): 19.46
Number of Hedge Fund Holders: 27
Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is working to develop treatments for neurological diseases. Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has gained about 41% over the past 12 months and analysts believe it can run further. Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is known for wakix (pitolisant), which is used to address excessive daytime sleepiness. This product alone produced $117 million in revenue in the third quarter, up 45% from the previous year. Some other important possible catalysts for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) from its pipeline include treatments for Myotonic Dystrophy, Idiopathic Hypersomnia and pediatric narcolepsy.
As of the end of the third quarter, 27 hedge funds tracked by Insider Monkey reported having stakes in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY). The total value of these stakes was $338 million. In the previous quarter, 20 funds had stakes in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY). This shows that hedge fund sentiment is strong for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY).
3. QuidelOrtho Corporation (NASDAQ:QDEL)
PE Ratio (TTM): 5.26
Number of Hedge Fund Holders: 29
QuidelOrtho Corporation (NASDAQ:QDEL) is a California-based diagnostic healthcare products company. Earlier this month, QuidelOrtho Corporation (NASDAQ:QDEL) posted strong Q4 revenue guidance. QuidelOrtho Corporation (NASDAQ:QDEL) expects its revenue to come in the range of $853 million to $868 million, significantly above the consensus of $764.27 million. QuidelOrtho Corporation (NASDAQ:QDEL) said its COVID-19 product revenue was expected to total in the range of $124 million to $134 million. For full-year 2022, QuidelOrtho’s revenue is expected to be between $4.038 billion to $4.053 billion, above the consensus of $3.95 billion.
As of the end of the third quarter, 29 hedge funds tracked by Insider Monkey reported having stakes in QuidelOrtho Corporation (NASDAQ:QDEL), compared to 37 funds in the previous quarter. The total value of these stakes was $692 million.
2. InMode Ltd. (NASDAQ:INMD)
PE Ratio (TTM): 15.72
Number of Hedge Fund Holders: 30
InMode Ltd. (NASDAQ:INMD) is an Israeli healthcare company operating in the medical aesthetics space. Earlier this month, InMode Ltd. (NASDAQ:INMD) rose after the company posted strong guidance. InMode Ltd. (NASDAQ:INMD) said its Q4 revenue will fall in the range of $133.2 million to $133.4 million, while its full-year 2022 revenue will total between $453.9 million and $454.1 million. The consensus estimate for the fourth quarter revenue was $129.45 million. InMode Ltd. (NASDAQ:INMD) said its EPS in the quarter was expected to come in the range of $0.73-$0.74, as compared to the consensus of $0.65. InMode Ltd. (NASDAQ:INMD) will release its quarterly results on February 14.
Jim Simons’ Renaissance Technologies is the biggest stakeholder of InMode Ltd. (NASDAQ:INMD) as of the end of the third quarter. The fund has a $67 million stake in InMode Ltd. (NASDAQ:INMD). Another notable stakeholder in InMode Ltd. (NASDAQ:INMD) according to Insider Monkey’s database is Israel Englander’s Millennium Management which owns a $31.3 million stake. Overall, out of the 920 hedge funds tracked by Insider Monkey, 30 hedge funds had stakes in InMode Ltd. (NASDAQ:INMD) as of the end of the third quarter.
1. Exelixis, Inc. (NASDAQ:EXEL)
PE Ratio (TTM): 17.39
Number of Hedge Fund Holders: 35
Alameda, California-based Exelixis, Inc. (NASDAQ:EXEL) is known for its treatment for medullary thyroid cancer. Exelixis, Inc. (NASDAQ:EXEL) is also working on products related to metastatic cancer. Earlier this month, Exelixis, Inc. (NASDAQ:EXEL) posted Q4 and 2022 guidance. For the last quarter of 2022, Exelixis, Inc. (NASDAQ:EXEL) expects its revenue to total $415 million, as compared to the analyst consensus of $415.86 million. For 2022, Exelixis, Inc. (NASDAQ:EXEL) sees its revenue to come in at $1.6 billion, versus the consensus of $1.6 billion. For 2023, Exelixis, Inc. (NASDAQ:EXEL)’s revenue is expected to fall between $1.775 billion to $1.875 billion, versus the consensus of $1.83 billion.
Hedge fund sentiment is strong for Exelixis, Inc. (NASDAQ:EXEL). As of the end of the September quarter, 35 out of the 920 hedge funds tracked by Insider Monkey reported having stakes in Exelixis, Inc. (NASDAQ:EXEL), compared to 28 funds in the previous quarter. The total value of these stakes was $35 million.
You can also take a peek at 12 Best Holding Company Stocks To Invest In and 12 Best Bid Data Stocks To Buy.
