The Bullish Bears break down a list of the largest healthcare stocks and ETFs list. Healthcare is a large and growing industry, with about $8.3 trillion spent globally and about $3.8 trillion spent in the U.S. There are several types of healthcare stocks, including drug stocks (companies that develop drugs), medical device stocks (companies that make medical devices), payer stocks (companies that charge premiums for healthcare coverage), and healthcare provider stocks (companies that deliver healthcare services).
To find a good healthcare stocks list, you should consider a company’s growth prospects, financial strength, leadership and management, and valuation. It would help if you also considered the risks involved in investing in healthcare stocks, such as regulatory risks, clinical trial failures, and competition.
We are not affiliated with nor endorse any of these companies, and nothing on this site constitutes a recommendation to buy or sell.
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Table of Contents
List of the Largest Healthcare Stocks
| Symbol | Name | Industry |
|---|---|---|
| UNH | UnitedHealth Group Incorporated | Healthcare Plans |
| JNJ | Johnson & Johnson | Drug Manufacturers - General |
| LLY | Eli Lilly and Company | Drug Manufacturers - General |
| ABBV | AbbVie Inc. | Drug Manufacturers - General |
| PFE | Pfizer Inc. | Drug Manufacturers - General |
| MRK | Merck & Co., Inc. | Drug Manufacturers - General |
| TMO | Thermo Fisher Scientific Inc. | Diagnostics & Research |
| DHR | Danaher Corporation | Diagnostics & Research |
| ABT | Abbott Laboratories | Medical Devices |
| BMY | Bristol-Myers Squibb Company | Drug Manufacturers - General |
| AMGN | Amgen Inc. | Drug Manufacturers - General |
| CVS | CVS Health Corporation | Healthcare Plans |
| ELV | Elevance Health Inc. | Healthcare Plans |
| GILD | Gilead Sciences, Inc. | Drug Manufacturers - General |
| CI | Cigna Corporation | Healthcare Plans |
| ISRG | Intuitive Surgical, Inc. | Medical Instruments & Supplies |
| SYK | Stryker Corporation | Medical Devices |
| REGN | Regeneron Pharmaceuticals, Inc. | Biotechnology |
| VRTX | Vertex Pharmaceuticals Incorporated | Biotechnology |
| BDX | Becton, Dickinson and Company | Medical Instruments & Supplies |
Healthcare ETF List
| Symbol | ETF Name | Industry |
|---|---|---|
| XLV | Health Care Select Sector SPDR Fund | Broad Healthcare |
| VHT | Vanguard Health Care ETF | Broad Healthcare |
| IBB | iShares Biotechnology ETF | Biotechnology |
| XBI | SPDR S&P Biotech ETF | Biotechnology |
| IHI | iShares U.S. Medical Devices ETF | Medical Devices |
| IXJ | iShares Global Healthcare ETF | Broad Healthcare |
| IYH | iShares U.S. Healthcare ETF | Broad Healthcare |
| FHLC | Fidelity MSCI Health Care Index ETF | Broad Healthcare |
| ARKG | ARK Genomic Revolution ETF | Biotechnology |
| FXH | First Trust Health Care AlphaDEX Fund | Broad Healthcare |
| IHF | iShares U.S. Healthcare Providers ETF | Healthcare Services |
| FBT | First Trust NYSE Arca Biotechnology Index Fund | Biotechnology |
| RYH | Invesco S&P 500® Equal Weight Health Care ETF | Broad Healthcare |
| LABU | Direxion Daily S&P Biotech Bull 3x Shares | Biotechnology |
| PPH | VanEck Pharmaceutical ETF | Pharmaceutical |
| BBH | VanEck Biotech ETF | Biotechnology |
| IHE | iShares U.S. Pharmaceuticals ETF | Pharmaceutical |
| XHE | SPDR S&P Health Care Equipment ETF | Medical Devices |
| PJP | Invesco Dynamic Pharmaceuticals ETF | Pharmaceutical |
| PSCH | Invesco S&P SmallCap Health Care ETF | Broad Healthcare |
| PBE | Invesco Dynamic Biotechnology & Genome ETF | Biotechnology |
| PTH | Invesco DWA Healthcare Momentum ETF | Broad Healthcare |
| CURE | Direxion Daily Healthcare Bull 3x Shares | Broad Healthcare |
| GNOM | Global X Genomics & Biotechnology ETF | Biotechnology |
| XPH | SPDR S&P Pharmaceuticals ETF | Pharmaceutical |
| IDNA | iShares Genomics Immunology and Healthcare ETF | Biotechnology |
| EDOC | Global X Telemedicine & Digital Health ETF Registered | Broad Healthcare |
| LABD | Direxion Daily S&P Biotech Bear 3x Shares | Biotechnology |
| XHS | SPDR S&P Health Care Services ETF | Healthcare Services |
| GDOC | Goldman Sachs Future Health Care Equity ETF | Broad Healthcare |
| SBIO | ALPS Medical Breakthroughs ETF | Biotechnology |
| BIB | ProShares Ultra Nasdaq Biotechnology | Biotechnology |
| KURE | KraneShares MSCI All China Health Care Index ETF | Pharmaceutical |
| HTEC | ROBO Global Healthcare Technology and Innovation ETF | Broad Healthcare |
| RXL | ProShares Ultra Health Care | Broad Healthcare |
| PINK | Simplify Health Care ETF | Broad Healthcare |
| BTEC | Principal Healthcare Innovators ETF | Biotechnology |
| FTXH | First Trust Nasdaq Pharmaceuticals ETF | Pharmaceutical |
| AGNG | Global X Aging Population ETF | Broad Healthcare |
| POTX | Global X Cannabis ETF | Pharmaceutical |
| VMOT | Alpha Architect Value Momentum Trend ETF | Healthcare Services |
| CNBS | Amplify Seymour Cannabis ETF | Broad Healthcare |
| GERM | ETFMG Treatments Testing and Advancements ETF | Broad Healthcare |
| CNCR | Loncar Cancer Immunotherapy ETF | Biotechnology |
| IBBQ | Invesco Nasdaq Biotechnology ETF | Broad Healthcare |
| BBP | Virtus LifeSci Biotech Products ETF | Biotechnology |
| BBC | Virtus LifeSci Biotech Clinical Trials ETF | Biotechnology |
| HELX | Franklin Genomic Advancements ETF | Biotechnology |
| CHIH | Global X MSCI China Health Care ETF | Pharmaceutical |
| PILL | Direxion Daily Pharmaceutical & Medical Bull 3X Shares | Pharmaceutical |
| FDHT | Fidelity Digital Health ETF | Broad Healthcare |
| HART | IQ Healthy Hearts ETF | Broad Healthcare |
| BIS | ProShares UltraShort Nasdaq Biotechnology | Biotechnology |
| PSIL | AdvisorShares Psychedelics ETF | Biotechnology |
| CHNA | Loncar China BioPharma ETF | Pharmaceutical |
| BMED | Future Health ETF | Broad Healthcare |
| IBRN | iShares Neuroscience and Healthcare ETF | Broad Healthcare |
| MSGR | Direxion mRNA ETF | Biotechnology |
| WDNA | WisdomTree BioRevolution Fund | Biotechnology |
| APXH | Apex Healthcare ETF | Broad Healthcare |
| CHB | Global X China Biotech Innovation ETF | Pharmaceutical |
| MEDI | Harbor Health Care ETF | Broad Healthcare |
| KMED | KraneShares Emerging Markets Healthcare Index ETF | Broad Healthcare |
| MDEV | First Trust Indxx Medical Devices ETF | Medical Devices |
| PSYK | PSYK ETF | Pharmaceutical |
| RXD | ProShares UltraShort Health Care | Broad Healthcare |
| PFEL | AXS 2X PFE Bull Daily ETF | Pharmaceutical |
| PFES | AXS 2X PFE Bear Daily ETF | Pharmaceutical |
| EKG | First Trust Nasdaq Lux Digital Health Solutions ETF | Broad Healthcare |
What Are Healthcare Stocks?
As the saying goes, health is wealth. Never has this been more true than over the past few years when the COVID pandemic struck the world. In 2024, nearly $10 trillion will be spent on healthcare worldwide. It is something that nearly every human on Earth will need at some point, which makes it an essential industry.
This also means it is an enticing industry for investors as there will always be a demand for it. Healthcare stocks cover a variety of sectors, including health insurance, medical technology, biotechs, and pharmaceuticals. There are companies that you can invest in for every part of the healthcare system.
Healthcare stocks offer investors a wide range of investment options. Opportunities can range from some of the largest-value stocks on the market to some of the riskiest and most speculative biotech startups. This article will discuss why you might want to consider healthcare stocks for your portfolio in 2024.
Are Healthcare Stocks a Good Investment?
Given the wide range of options in healthcare stocks, there is something for every type of investor. If we’re talking about the biggest healthcare companies, history shows they can be very safe and profitable investments.
If you have a higher risk tolerance and want to hit a home run, you will likely be more interested in taking a swing at a biotech company. They are speculative and often have a low chance of success, but buying the right stocks at the right time can provide life-changing results.
For those who are less risk-averse, investing in healthcare providers or big pharmaceutical companies can provide stability and dividends for your portfolio.
UNH Stock Rover Report
List of the Best Healthcare Stocks
If you want to hit that biotech home run, we recommend checking out our article on the best Biotech stocks for 2024. Our choices for the best healthcare stocks include some of the largest companies in the sector, most of which are household names in America.
1. UnitedHealth Group (NYSE: UNH)
We start with the largest healthcare company in the world by a considerable measure. UnitedHealth Group is a health insurance provider for more than 152 million people worldwide. The company has a market capitalization of over $500 billion is the largest component of the price-weighted Dow Jones Industrial Average.
At the end of 2023, UnitedHealth divested its operations in Brazil, opting to focus more on its domestic services. Shares are expensive at more than $540.00 per share but have consistently provided market-beating returns to shareholders, plus a dividend that pays more than $7.50 annually.
2. Johnson & Johnson (NYSE: JNJ)
One of the world’s largest healthcare and pharmaceutical conglomerates, J&J has perenially been one of the best stocks on the market. Most people will think of the Johnson & Johnson brand for things like baby products, but the company owns some of the many household names Americans use daily. These include brands like Tylenol, Aveeno, Listerine, Band-Aid, and Polysporin.
Johnson & Johnson also operates one of the largest pharmaceutical divisions in the world. It has product stability, an extremely strong industry moat, and is one of just two American companies with a prime credit rating of AAA. JNJ is also a component of the Dow Jones Industrial Average and the S&P 100 and S&P 500 indexes. On top of that, the stock pays out a generous 2.96% dividend yield to shareholders each quarter.
3. Intuitive Surgical (NASDAQ: ISRG)
Intuitive Surgical isn’t a household name like Johnson & Johnson or UnitedHealth. This company builds, distributes, and manages robotic surgical devices. Its Da Vinci surgical systems have reinvented the industry and have performed more than 10 million operations since 1999.
Most of the procedures can be performed by surgeons who aren’t even in the same state as the patient. Intuitive Surgical is already a profitable company with a tremendous runway for growth in the future.
4. Eli Lilly and Company (NYSE: LLY)
Eli Lilly is one of the world’s largest pharmaceutical companies; after a year when it gained more than 70%. As of the start of 2024, Eli Lilly has a market capitalization of nearly $600 billion and sells its products in over 125 different countries worldwide.
The company has a strong stable of drugs, including its new weight-loss drug Zepbound, which some believe will challenge the likes of Ozempic and Wegovy. It’s not a cheap stock by any metric, but a pharmaceutical giant with a steady demand for its drugs can be a compounder for years or even decades.
Final Thoughts: Healthcare Stocks List
When discussing the largest healthcare companies, there is little downside in holding them for the long term. Some exceptions include lawsuits and legal action like Johnson & Johnson faced in 2023.
The downside of investing in biotech companies is quite clear. Many of these companies put years of research into a single drug. If that drug does not receive FDA clearance to be used by patients, then the company won’t see any revenues and, in the worst scenario, could go bankrupt.
Finally, pharmaceutical companies rely on patients requiring their drugs to make sales. If a newer treatment or better drug comes along, it could seriously dent their revenues. The same goes for a company like UnitedHealth, which provides health insurance. If the government changes a healthcare plan like Medicare, it could impact the company’s bottom line.
