Unless you live under a rock or just completely missed the memo, then you know the past two years have been all about COVID-19.
But almost everything comes with a silver lining…
Innovations in the medical field are going to accelerate in the next decade, leaving investors and traders with all kinds of chances to ride some of the sector’s biggest disruptors to major profits.
It’s an industry that’s growing 15% annually!
So what that tells me is health care stocks are set to rise… and right now, I have my sights on a few names accelerating ahead of the broader stock market that also show potential for outsized gains.
2 Health Care Stocks Set to Rise During the Rest of 2021
The first health care stock set to rise is Charles River Laboratories Intl. Inc. (NYSE: CRL).
As you’ve probably already guessed, it’s a pharmaceutical company that specializes in a variety of preclinical and clinical laboratory, gene therapy and cell therapy services for pharmaceutical, medical devices and biotechnology companies. Phew… that’s a mouthful!
They have their hands in all types of cookie jars, if I do say so myself…
CRL is currently the 11th-strongest stock out of the entire S&P 500 on my proprietary Cumulative Strength Index (CSI) scan. (If you’d like to learn more about this scan and how I use it to find new stocks to target, check this video out.)
It even has a one-year return of about 94%.
And with four quarters of positive earnings estimates and expectations, it’s a BIG magnet for hedge and mutual funds.
I have a price target of $475 over the next three months, assuming the strong trend in medical and health care stocks persist. And that’ll most likely happen because the COVID-19 climate doesn’t seem to be slowing down…
I mean, just look around us!
Check out my short video below to learn more about the health care stocks set to rise this fall.
The second stock on my list is a classic gold versus shovel play. What I mean by that is the company doesn’t directly provide health care services, but has vital components and tools for the industry.
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