3 Best Healthcare Stocks To keep an Eye On For Long Term

The healthcare sector has always been one of the more popular destinations for investors over the years and it has only grown in importance in recent times.

However, it should be noted that investors generally look for long-term bets when it comes to investing in stocks and that is usually a sound strategy considering the long possibilities of the sector. Here is a look at three healthcare stocks that you could start tracking if you are hunting for an investment with a 10-year window.

1. West Pharmaceutical Services (NYSE:WST)

West Pharmaceutical Services is involved in the creation of delivery systems meant for injectable medicines and the coronavirus pandemic has shown quite clearly that the need for building such systems is vitally important.

The company is primarily involved in supplying syringes, stoppers and seals among others. More importantly, West Pharmaceutical is well diversified when it comes to its range of products, geographical presence and types of customers. The company has grown steadily and is well known for raising its projections from one year to the next. In 2021, it expects to bring in sales of $2.77 billion, which will work out to a rise of 29% from 2020. Investors could do well to add it to their watch lists at this point.

2. RestMed (NYSE:RMD)

Data is now a hot currency in any sector and that brings us to the subject of RestMed, which boasts of as many as 15 million cloud-connected medical devices. While it is true that only 12% of its total revenues are generated from its SaaS (software as a service) product, it should be remembered that the data from these devices could prove to be a lucrative form of revenue.

Additionally, the move to add the number of ventilators at the time of the COVID-19 pandemic had helped RestMed to add $3.2 billion in revenues for the fiscal year that ended on June 30, 2021. Experts believe that the demand for its machines is expected to rise further in the near future and the long-term outlook could well be quite bright.

3. Novo Nordisk (NYSE:NVO)

Sometimes being involved with the manufacturing of one popular product could well be the ticket to enormous success for pharmaceutical companies. One such company is Nova Nordisk, which is currently one of the three biggest players in the insulin market and along with the two other companies, control 90% of the whole space.

The number of people suffering from diabetes worldwide has only continued to rise and in such a situation, Novo Nordisk is expected to continue to reap dividends by helping patients worldwide. Insulin makes up as much as 42% of its revenues and with the market set to expand the Novo Nordisk could well be one to watch for long-term investors.