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The 3 Best Healthcare Stocks to Buy in April 2024

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The recent uptick in U.S. manufacturing signals a promising trend for the economy. Investor confidence in the economy’s stability is reflected in the decreasing odds for a June rate cut, indicating optimism about future monetary policy. With the Federal Reserve maintaining interest rates and anticipating further cuts, coupled with market resilience, the stage is set for continued economic growth in the United States. Particularly with some of the best healthcare stocks available to buy in April.

The healthcare industry is expected to grow at a CAGR of 8.27% from 2023 to 2030 and is anticipated to reach $21.06 trillion by 2030. This industry confidence is beneficial, you need to invest in these industry leaders for great profits.

Eli Lilly (LLY)

Eli Lilly (LLY) sign on corporate building with blue sky in background

Source: shutterstock.com/Michael Vi

Eli Lilly (NYSE:LLY) is an American pharmaceutical company centered around drugs for various purposes. LLY is currently the 10th largest company via market cap with a valuation of $726.34 billion.

Financially, LLY reported success in Q4 2023 with year-over-year (YOY) growth in every key metric. In revenue, LLY marked $9.35 billion, or a YOY increase of 28.1%. Similar growth was observable with both net income and diluted EPS, which increased about 13% each.

A surprise success for Eli Lilly in 2023 was their drug Mounjaro. It was a breakthrough in treatment for both diabetes and weight loss. With the widespread dominance of the drug Ozempic in the past year, Eli Lilly has produced and offered a viable alternative. This will allow for an expanding market share in a newly developed sector. As supply chain issues are resolved in 2024, expect both production and sales to bolster, increasing revenue for Eli Lilly.

Cigna (CI)

Cigna logo displayed on a modern smartphone. CI stock.

Source: Piotr Swat / Shutterstock

Cigna (NYSE:CI) is an insurance and healthcare company that offers numerous services and plans.

Over the last 10 years, Cigna has consistently achieved positive YOY revenue growth, indicating its financial stability. Additionally, it offers a dividend yield of 1.54%. For the past 4 consecutive years, dividend rates have consistently increased, marking a growth pattern.

Early this year, Cigna announced that it is selling its medicare business to HCSC, the largest customer-owned health insurer in the U.S. This deal, valued at $3.7 billion, is expected to close in early 2025. Selling is Cigna’s best option, it will reduce future liabilities while making a profit through HCSC. Cigna shows potential as it takes clear action against having limited resources by securing this deal.

HCA Healthcare (HCA)

a hand holding an iPhon with an HCA logo on the screen

Source: Trismegist san / Shutterstock.com

HCA Healthcare (NYSE:HCA) is a healthcare facility operator. As one of the largest healthcare companies in the world, it operates 182 healthcare facilities in the U.S. and the U.K.

HCA has demonstrated strong financial performance in the last year, with revenue up 7.86% year-to-date, from $60.2 billion in 2022 to $64.9 billion in 2023. The company has shown proficiency in managing its assets, with a total asset growth of 7.2%. Additionally, over the last 5 years, the company has experienced growth in revenue and assets. Overall, HCA’s financials illustrate its stable returns and growth.

HCA’s most important catalyst is its strong record of reliability. The company’s facilities regularly makes lists of ethical and viable hospitals. The firm also constantly updates its technology to meet the highest modern standards, such as its newly implemented outpatient therapy technology.

Ultimately, HCA is one of the best healthcare stocks to buy in April.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Michael Que is a financial writer with extensive experience in the technology industry, with his work featured on Seeking Alpha, Benzinga and MSN Money. He is the owner of Que Capital, a research firm that combines fundamental analysis with ESG factors to pick the best sustainable long-term investments.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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