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Doing Well by Doing Good – To Date in 2008
By Staff Reporters
According to Anne Zieger of FierceHealthFinance, healthcare stocks are doing well.
The Standard & Poor’s Benchmark
With healthcare facing some of its biggest financial challenges in years, particularly a growth in bad debt and slides in federal reimbursement, you wouldn’t think that industry stocks would be doing too well.
An Illogical Market
As usual, however, the market has followed its own logic, bringing several healthcare stocks to high points and pushing up the overall value Standard & Poor’s healthcare stocks average by 4.4 percent (compared with a 7.9 percent drop in the overall index).
Meanwhile, mutual funds focused on healthcare are up 6.84 percent over the past three months, according to Morningstar, the only category of stock funds in positive numbers during this period.
Big Pharma and Biotechnology Driven
And, San Francisco Chronicle analysts say that rising healthcare stock performance is driven more by biotechs and big-pharma than provider companies. Their strong performance is partly due to improved performance by the stocks themselves, but also due to investors running away from finance and energy as well.
Healthcare stocks have also been pushed up by foreign investors with strong currencies, who have been on the prowl to take over U.S. companies with below-expected valuations.
The Gainers
Big gainers among the S&P 500 include generic drug-maker Barr, Amgen, Varian Medical Systems and King Pharmaceuticals.
On the other hand, it’s not all good news in this sector, as several managed care companies have lost value, including UnitedHealth Group and Aetna.
Assessment
Of course, hospital companies like HMA and Tenet haven’t done well, lately.
Conclusion
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Filed under: Financial Planning, Investing, Portfolio Management, Research & Development | Tagged: Standard & Poor's |
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