This World Health Day gives us an opportunity to pay tribute to medical companies for their relentless efforts to fight COVID-19. Many say, the last time the world has seen such severity of a pandemic was in 1918, when the Spanish flu had emerged.
The novel coronavirus — that is said to have originated in China — has now infected more than 1,345,000 people, with the death toll being about 74,767. Researchers and scientists are striving to come upwith treatment and vaccines, putting the spotlight on some specific biotech and healthcare companies.
While the global stock markets took a beating this year and economies are in dismal conditions, thanks to widespread lockdowns, stocks of medical companies that are into the testing and making of kits, drugs and vaccines to fight COVID-19 gained immensely this year.
Co-Diagnostics Inc. CODX (up 1,051.9% YTD), VAXART Inc. VXRT (up 391.4%), Vir Biotechnology VIR (up 130.6%), Moderna MRNA (up 77.1%) and Aytu Bioscience Inc. AYTU (up 67%) are some of the blockbuster winners of the year. Notably, Large Cap Pharmaceuticals stocks have lost 9.5% so far this year versus the 22.5% decline in the S&P 500 while biotech was off only 8.5%.
Upbeat Zacks Sector & Industry Rank
The medical sector currently has a Zacks Rank #1 among the 16 broad Zacks sectors. There is a total of 896 stocks in the sector spread across 13 medical industries. Each of the industry has a favorable Zacks Rank with the furthest one —Medical services —placed at the top 40% of total 250+ industries in the Zacks universe. And the top-most one —Nursing Homes — falls into top 1%. The all-important Drugs, Large Cap Pharmaceuticals and Biomedical and Genetics have Zacks industry rank within the top 9%, 14% and 11%, respectively.
Researches on Medicines