Top three US healthcare stocks to buy in April

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Written on Apr 4, 2024

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Quality stocks from the healthcare sector often represent resilient, value for money investments.
But not all pharmaceutical and biotech companies are created equal.
Here, we look at our three top US health stock picks for April 2024.

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As we look forward to celebrating World Health Day on April 7th, these are the top three healthcare US companies we think you should be watching for your financial health.

Lily (Eli) & Co
AbbVie Inc
Amgen Inc

1. Lilly (Eli) & Co.

Eli Lilly and Company, based in Indianapolis, describes itself as “a medicine company turning science into healing to make life better for people around the world”.

The company is old American stock royalty, hailing back to 1876 – but the company is doing a brisk trade today in 2024.

As of April 2024, the Lilly (Eli) & Co share price is up $168.35 (almost 30%) this year to date, and over $400 and 110% in the past year.

But that is not the only reason Eli Lilly is on this list – especially this month. Eli Lilly has its next earnings call on April 30^th, and it seems it’ll be a good one.

According to Yahoo, it may even raise its EPS by a sizable 61% per share.

This is only being helped along by a current Eli Lilly Zepbound shortage (the Eli Lilly weight loss drug that has skyrocketed in popularity), only further driving its price upward.

2. AbbVie Inc

Pharmaceutical research and development company AbbVie is based in Chicago. The company is arguably most famous for Humira, its autoimmune disease treatment.

AbbVie has done reasonably well in 2024 so far, with its share price up 13% since January, or 2% this past month, and almost 13% in the past twelve months.

The company also recently announced that it is acquiring biopharma company Landos.

AbbVie, too, is expected to release its latest financial results this April, although, unlike Eli Lilly, a date has not yet been officially set.

3. Amgen Inc.

Biotechnological business Amgen (formerly called Applied Molecular Genetics) is based in California.

The company is best known for its biopharmaceutical products and is focused on research and development.

The company also reported impressive Q2 2023 results recently. According to Amgen, nine of its brands delivered double-digit volume growth during the quarter globally. It also reported a Q4 revenue increase of 205% year-on-year.

Yahoo recently also singled out Amgen Inc’s obesity treatment candidate, oral tablets currently named ‘AMG 786’, as a potential future cash cow for the brand. Test results on the treatment are expected within the first half of 2024, according to Yahoo, and could be the company’s way into the highly lucrative weight loss drug category of pharmaceuticals.