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Healthcare Stocks — Pharma, Biotech, Medical Devices
The Healthcare sector contains companies involved in medical services, equipment, and products. Main sub-sectors include pharmaceuticals, biotechnology, and healthcare providers. Examples of companies in this sector include Johnson & Johnson, AbbVie, and AstraZeneca.
Why invest
A Canadian investor may want exposure to the healthcare sector for diversification benefits, as it tends to perform relatively independently of other sectors. Additionally, a strong macro thesis supports the sector's growth, driven by an aging population and increasing healthcare needs.
How to choose
Canadian investors should consider balance-sheet quality and competitive moat when picking healthcare stocks. A strong balance sheet can indicate financial stability, while a competitive moat can signify a company's ability to maintain market share.
Tax considerations
For Canadian investors in the healthcare sector, which often includes US-listed stocks, an RRSP is the tax-optimal account. This is because the Canada-US tax treaty eliminates the 15% US withholding tax on US dividends in an RRSP, maximizing investment returns.
Popular stocks
Lilly (LLY) — develops and markets pharmaceutical products, including treatments for diabetes and cancer. Johnson & Johnson (JNJ) — produces a wide range of healthcare products, from pharmaceuticals to medical devices and consumer goods.
Best account
RRSP — Eli Lilly, Johnson & Johnson and Merck pay U.S. dividends — an RRSP eliminates the 15% U.S. withholding under the Canada-U.S. treaty.
What are the best healthcare stocks listed in Canada?
The Canadian healthcare sector includes various stocks listed on the TSX, comprising pharmaceutical companies, biotechnology firms, and healthcare service providers. Some notable healthcare stocks in Canada are those of companies involved in pharmaceutical research and development, as well as medical device…
How does Canadian vs U.S. dividend taxation compare in this sector?
In the healthcare sector, Canadian investors should consider the tax implications of holding domestic versus US dividend-paying stocks. For eligible Canadian dividends, a tax credit is available in non-registered accounts, reducing the tax burden.
Is it better to buy individual stocks or a sector ETF for this sector?
Investors interested in the healthcare sector can consider buying individual stocks or a sector ETF. Buying individual stocks allows for targeted investment in specific companies, but it can be riskier due to lack of diversification.
Healthcare Stocks — Pharma, Biotech, Medical Devices
The Healthcare sector contains companies involved in medical services, equipment, and products. Main sub-sectors include pharmaceuticals, biotechnology, and healthcare providers. Examples of companies in this sector include Johnson & Johnson, AbbVie, and AstraZeneca.
Why invest
A Canadian investor may want exposure to the healthcare sector for diversification benefits, as it tends to perform relatively independently of other sectors. Additionally, a strong macro thesis supports the sector's growth, driven by an aging population and increasing healthcare needs.
How to choose
Canadian investors should consider balance-sheet quality and competitive moat when picking healthcare stocks. A strong balance sheet can indicate financial stability, while a competitive moat can signify a company's ability to maintain market share.
Tax considerations
For Canadian investors in the healthcare sector, which often includes US-listed stocks, an RRSP is the tax-optimal account. This is because the Canada-US tax treaty eliminates the 15% US withholding tax on US dividends in an RRSP, maximizing investment returns.
Popular stocks
Lilly (LLY) — develops and markets pharmaceutical products, including treatments for diabetes and cancer. Johnson & Johnson (JNJ) — produces a wide range of healthcare products, from pharmaceuticals to medical devices and consumer goods.
Best account
RRSP — Eli Lilly, Johnson & Johnson and Merck pay U.S. dividends — an RRSP eliminates the 15% U.S. withholding under the Canada-U.S. treaty.
What are the best healthcare stocks listed in Canada?
The Canadian healthcare sector includes various stocks listed on the TSX, comprising pharmaceutical companies, biotechnology firms, and healthcare service providers. Some notable healthcare stocks in Canada are those of companies involved in pharmaceutical research and development, as well as medical device…
How does Canadian vs U.S. dividend taxation compare in this sector?
In the healthcare sector, Canadian investors should consider the tax implications of holding domestic versus US dividend-paying stocks. For eligible Canadian dividends, a tax credit is available in non-registered accounts, reducing the tax burden.
Is it better to buy individual stocks or a sector ETF for this sector?
Investors interested in the healthcare sector can consider buying individual stocks or a sector ETF. Buying individual stocks allows for targeted investment in specific companies, but it can be riskier due to lack of diversification.
ETFs | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
LL LLY Eli Lilly and Company | Healthcare | NYSE | +346 | $1.1T | US$1,179.11 | +57.1% | 43.11 | 0.57% | 0.51 | |
JN JNJ Johnson & Johnson | Healthcare | NYSE | +343 | $609.1B | US$253.04 | +56.8% | 30.48 | 2.04% | 0.23 | |
AB ABBV AbbVie Inc. | Healthcare | NYSE | +296 | $449.6B | US$254.49 | +20.2% | 127.98 | 2.65% | 0.28 | |
UN UNH UnitedHealth Group Incorporated | Healthcare | NYSE | +246 | $387.0B | US$426.09 | +36.0% | 32.05 | 2.18% | 0.63 | |
MR MRK Merck & Co., Inc. | Healthcare | NYSE | +292 | $314.9B | US$127.50 | +64.7% | 36.50 | 2.62% | 0.20 | |
NV NVS Novartis AG | Healthcare | NYSE | $293.4B | US$153.76 | +39.0% | 22.88 | 2.96% | 0.49 | ||
AZ AZN AstraZeneca PLC | Healthcare | NYSE | +13 | $261.9B | US$168.90 | +34.7% | 29.39 | 1.62% | 0.23 | |
TM TMO Thermo Fisher Scientific Inc. | Healthcare | NYSE | +190 | $197.9B | US$532.48 | +11.7% | 28.73 | 0.36% | 0.87 | |
AM AMGN Amgen Inc. | Healthcare | NASDAQ | +223 | $197.7B | US$366.29 | +24.5% | 26.04 | 2.69% | 0.40 | |
AB ABT Abbott Laboratories | Healthcare | NYSE | +199 | $175.4B | US$100.68 | -33.3% | 26.72 | 2.64% | 0.61 | |
NV NVO Novo Nordisk A/S | Healthcare | NYSE | +25 | $168.6B | US$50.32 | -33.5% | 12.09 | 3.57% | 0.36 | |
GI GILD Gilead Sciences, Inc. | Healthcare | NASDAQ | +263 | $166.7B | US$134.28 | +26.9% | 17.86 | 2.50% | 0.34 | |
DH DHR Danaher Corporation | Healthcare | NYSE | +157 | $144.3B | US$203.83 | -8.6% | 38.28 | 0.81% | 0.82 | |
PF PFE Pfizer Inc. | Healthcare | NYSE | +207 | $142.8B | US$25.05 | +15.7% | 18.56 | 7.07% | 0.31 | |
CV CVS CVS Health Corporation | Healthcare | NYSE | +173 | $137.1B | US$107.47 | +58.6% | 45.93 | 2.54% | 0.60 | |
BM BMY Bristol-Myers Squibb Company | Healthcare | NYSE | +233 | $124.0B | US$60.74 | +33.7% | 16.28 | 4.34% | 0.23 | |
VR VRTX Vertex Pharmaceuticals Incorporated | Healthcare | NASDAQ | +193 | $123.3B | US$485.65 | -2.6% | 31.36 | — | 0.29 | |
SY SYK Stryker Corporation | Healthcare | NYSE | +180 | $122.6B | US$319.87 | -17.0% | 37.75 | 1.08% | 0.78 | |
IS ISRG Intuitive Surgical, Inc. | Healthcare | NASDAQ | +206 | $122.3B | US$345.42 | -20.6% | 51.83 | — | 1.46 | |
SN SNY Sanofi | Healthcare | NASDAQ | +17 | $106.9B | US$44.66 | -15.7% | 19.18 | 5.60% | 0.28 | |
MD MDT Medtronic plc | Healthcare | NYSE | $106.5B | US$83.20 | -0.1% | 22.30 | 3.46% | 0.58 | ||
GS GSK GSK plc | Healthcare | NYSE | +23 | $103.7B | US$51.76 | +34.5% | 14.31 | 3.36% | 0.30 | |
MC MCK McKesson Corporation | Healthcare | NYSE | +186 | $98.5B | US$841.39 | +6.9% | 20.49 | 0.42% | 0.32 | |
HC HCA HCA Healthcare, Inc. | Healthcare | NYSE | +163 | $82.3B | US$371.18 | +4.8% | 14.15 | 0.76% | 1.13 | |
EL ELV Elevance Health, Inc. | Healthcare | NYSE | +168 | $81.0B | US$373.11 | +7.3% | 17.70 | 1.65% | 0.68 | |
CI CI The Cigna Group | Healthcare | NYSE | +192 | $74.5B | US$281.45 | -7.4% | 12.19 | 2.17% | 0.30 | |
RE REGN Regeneron Pharmaceuticals, Inc. | Healthcare | NASDAQ | +185 | $69.7B | US$676.69 | +6.4% | 15.97 | 0.57% | 0.24 | |
BS BSX Boston Scientific Corporation | Healthcare | NYSE | +178 | $65.4B | US$44.03 | -46.1% | 18.89 | — | 0.58 | |
CO COR Cencora, Inc. | Healthcare | NYSE | +166 | $59.9B | US$307.90 | -5.9% | 22.72 | 0.81% | 0.58 | |
TA TAK Takeda Pharmaceutical Company Limited | Healthcare | NYSE | +7 | $54.2B | US$17.15 | +10.9% | — | 3.68% | 0.09 | |
CA CAH Cardinal Health, Inc. | Healthcare | NYSE | +200 | $53.5B | US$228.52 | +31.7% | 36.48 | 0.86% | 0.49 | |
AR ARGX argenx SE | Healthcare | NASDAQ | +25 | $53.5B | US$860.55 | +39.8% | 41.67 | — | -0.02 | |
EW EW Edwards Lifesciences Corporation | Healthcare | NYSE | +170 | $49.4B | US$85.73 | +12.7% | 51.01 | — | 0.85 | |
HU HUM Humana Inc. | Healthcare | NYSE | +154 | $48.0B | US$400.00 | +38.7% | 42.39 | 0.89% | 0.72 | |
ID IDXX IDEXX Laboratories, Inc. | Healthcare | NASDAQ | +176 | $44.8B | US$567.44 | +8.4% | 40.98 | — | 1.55 | |
HL HLN Haleon plc | Healthcare | NYSE | +5 | $44.5B | US$10.10 | -15.9% | 20.04 | 1.97% | 0.24 | |
BD BDX Becton, Dickinson and Company | Healthcare | NYSE | +161 | $43.6B | US$158.17 | +10.3% | 27.64 | 2.66% | 0.27 | |
RV RVMD Revolution Medicines, Inc. | Healthcare | NASDAQ | +73 | $39.6B | US$186.16 | +318.4% | — | — | 1.38 | |
NT NTRA Natera, Inc. | Healthcare | NASDAQ | +67 | $38.9B | US$271.39 | +29.8% | — | — | 1.50 | |
TE TEVA Teva Pharmaceutical Industries Limited | Healthcare | NYSE | +24 | $37.3B | US$32.03 | +94.2% | 25.85 | — | 0.86 | |
A A Agilent Technologies, Inc. | Healthcare | NYSE | +167 | $37.1B | US$131.46 | +4.2% | 26.24 | 0.78% | 1.25 | |
WA WAT Waters Corporation | Healthcare | NYSE | +136 | $36.2B | US$368.98 | -4.5% | 48.32 | — | 1.20 | |
AL ALNY Alnylam Pharmaceuticals, Inc. | Healthcare | NASDAQ | +71 | $35.7B | US$267.47 | +2.6% | 78.79 | — | 0.27 | |
IQ IQV IQVIA Holdings Inc. | Healthcare | NYSE | +167 | $34.4B | US$206.26 | +19.8% | 25.72 | — | 1.20 | |
AL ALC Alcon Inc. | Healthcare | NYSE | — | $34.3B | US$70.26 | -22.1% | 41.71 | 0.52% | 0.70 | |
CN CNC Centene Corporation | Healthcare | NYSE | +160 | $32.8B | US$66.44 | +2.6% | — | — | 1.08 | |
ZT ZTS Zoetis Inc. | Healthcare | NYSE | +160 | $32.1B | US$76.56 | -50.8% | 12.26 | 2.83% | 0.75 | |
VE VEEV Veeva Systems Inc. | Healthcare | NYSE | +115 | $31.7B | US$195.38 | -33.1% | 34.11 | — | 0.94 | |
BI BIIB Biogen Inc. | Healthcare | NASDAQ | +162 | $30.4B | US$205.99 | +51.8% | 23.26 | — | 0.16 | |
ON ONC BeOne Medicines AG | Healthcare | NASDAQ | +17 | $29.6B | US$312.02 | +30.7% | 67.49 | — | 0.49 |