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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 | +342 | $962.0B | US$1,078.78 | +48.7% | 39.21 | 0.63% | 0.48 | |
JN JNJ Johnson & Johnson | Healthcare | NYSE | +328 | $537.4B | US$223.24 | +56.8% | 26.11 | 2.38% | 0.26 | |
AB ABBV AbbVie Inc. | Healthcare | NYSE | +273 | $383.6B | US$217.13 | +20.2% | 106.20 | 3.18% | 0.30 | |
UN UNH UnitedHealth Group Incorporated | Healthcare | NYSE | +220 | $342.4B | US$377.00 | +36.0% | 28.66 | 2.32% | 0.65 | |
MR MRK Merck & Co., Inc. | Healthcare | NYSE | +266 | $283.3B | US$114.70 | +64.7% | 33.44 | 2.86% | 0.20 | |
NV NVS Novartis AG | Healthcare | NYSE | $274.1B | US$143.66 | +39.0% | 21.51 | 3.16% | 0.49 | ||
AZ AZN AstraZeneca PLC | Healthcare | NYSE | +25 | $273.4B | US$176.28 | +34.7% | 27.92 | 1.70% | 0.22 | |
AM AMGN Amgen Inc. | Healthcare | NASDAQ | +213 | $182.5B | US$338.22 | +24.5% | 23.42 | 2.99% | 0.43 | |
TM TMO Thermo Fisher Scientific Inc. | Healthcare | NYSE | +183 | $176.1B | US$473.95 | +11.7% | 27.11 | 0.38% | 0.88 | |
GI GILD Gilead Sciences, Inc. | Healthcare | NASDAQ | +250 | $160.2B | US$128.99 | +26.9% | 18.29 | 2.44% | 0.33 | |
AB ABT Abbott Laboratories | Healthcare | NYSE | +193 | $151.5B | US$86.99 | -33.3% | 23.98 | 2.94% | 0.65 | |
PF PFE Pfizer Inc. | Healthcare | NYSE | +182 | $144.4B | US$25.34 | +15.7% | 19.98 | 6.57% | 0.30 | |
IS ISRG Intuitive Surgical, Inc. | Healthcare | NASDAQ | +200 | $144.2B | US$407.29 | -20.6% | 51.53 | — | 1.51 | |
NV NVO Novo Nordisk A/S | Healthcare | NYSE | +12 | $140.9B | US$42.00 | -33.5% | 10.70 | 3.95% | 0.35 | |
DH DHR Danaher Corporation | Healthcare | NYSE | +147 | $126.0B | US$178.08 | -8.6% | 35.47 | 0.88% | 0.84 | |
CV CVS CVS Health Corporation | Healthcare | NYSE | +167 | $116.6B | US$91.37 | +58.6% | 39.90 | 2.92% | 0.59 | |
SY SYK Stryker Corporation | Healthcare | NYSE | +184 | $113.1B | US$295.00 | -17.0% | 35.35 | 1.15% | 0.81 | |
BM BMY Bristol-Myers Squibb Company | Healthcare | NYSE | +213 | $111.7B | US$54.72 | +33.7% | 16.02 | 4.41% | 0.26 | |
VR VRTX Vertex Pharmaceuticals Incorporated | Healthcare | NASDAQ | +181 | $108.7B | US$428.34 | -2.6% | 26.53 | — | 0.30 | |
SN SNY Sanofi | Healthcare | NASDAQ | +7 | $101.4B | US$42.37 | -15.7% | 18.99 | 5.54% | 0.28 | |
MD MDT Medtronic plc | Healthcare | NYSE | $100.1B | US$77.95 | -0.1% | 20.62 | 3.85% | 0.63 | ||
GS GSK GSK plc | Healthcare | NYSE | +10 | $99.7B | US$49.72 | +34.5% | 13.27 | 3.57% | 0.30 | |
MC MCK McKesson Corporation | Healthcare | NYSE | +182 | $88.9B | US$739.53 | +6.9% | 19.34 | 0.44% | 0.35 | |
EL ELV Elevance Health, Inc. | Healthcare | NYSE | +158 | $85.0B | US$391.27 | +7.3% | 16.67 | 1.75% | 0.67 | |
HC HCA HCA Healthcare, Inc. | Healthcare | NYSE | +147 | $80.6B | US$363.23 | +4.8% | 13.04 | 0.82% | 1.19 | |
CI CI The Cigna Group | Healthcare | NYSE | +176 | $71.6B | US$270.73 | -7.4% | 2.44 | 2.25% | 0.31 | |
BS BSX Boston Scientific Corporation | Healthcare | NYSE | +168 | $70.9B | US$47.69 | -46.1% | 20.21 | — | 0.62 | |
RE REGN Regeneron Pharmaceuticals, Inc. | Healthcare | NASDAQ | +171 | $63.8B | US$618.95 | +6.4% | 15.02 | 0.61% | 0.30 | |
CO COR Cencora, Inc. | Healthcare | NYSE | +157 | $51.3B | US$263.64 | -5.9% | 20.66 | 0.89% | 0.65 | |
AR ARGX argenx SE | Healthcare | NASDAQ | +15 | $50.6B | US$813.14 | +39.8% | 37.07 | — | -0.06 | |
EW EW Edwards Lifesciences Corporation | Healthcare | NYSE | +154 | $49.5B | US$86.00 | +12.7% | 46.74 | — | 0.87 | |
TA TAK Takeda Pharmaceutical Company Limited | Healthcare | NYSE | $47.5B | US$15.03 | +10.9% | 42.00 | 4.14% | 0.10 | ||
CA CAH Cardinal Health, Inc. | Healthcare | NYSE | +182 | $45.9B | US$195.85 | +31.7% | 30.05 | 1.04% | 0.54 | |
ID IDXX IDEXX Laboratories, Inc. | Healthcare | NASDAQ | +167 | $44.2B | US$560.73 | +8.4% | 41.50 | — | 1.57 | |
BD BDX Becton, Dickinson and Company | Healthcare | NYSE | +148 | $40.1B | US$145.61 | +10.3% | 25.72 | 2.85% | 0.28 | |
HU HUM Humana Inc. | Healthcare | NYSE | +126 | $39.3B | US$327.54 | +38.7% | 32.56 | 1.16% | 0.68 | |
AL ALNY Alnylam Pharmaceuticals, Inc. | Healthcare | NASDAQ | +83 | $39.1B | US$292.58 | +2.6% | 75.68 | — | 0.30 | |
A A Agilent Technologies, Inc. | Healthcare | NYSE | +126 | $38.8B | US$137.40 | +4.2% | 27.27 | 0.75% | 1.22 | |
HL HLN Haleon plc | Healthcare | NYSE | $38.6B | US$8.72 | -15.9% | 18.12 | 2.13% | 0.25 | ||
TE TEVA Teva Pharmaceutical Industries Limited | Healthcare | NYSE | +13 | $38.2B | US$32.83 | +94.2% | 26.36 | — | 0.86 | |
WA WAT Waters Corporation | Healthcare | NYSE | +112 | $37.3B | US$379.77 | -4.5% | 48.80 | — | 1.14 | |
RV RVMD Revolution Medicines, Inc. | Healthcare | NASDAQ | +77 | $33.2B | US$155.99 | +318.4% | — | — | 1.41 | |
ZT ZTS Zoetis Inc. | Healthcare | NYSE | +143 | $32.5B | US$77.59 | -50.8% | 12.74 | 2.73% | 0.86 | |
AL ALC Alcon Inc. | Healthcare | NYSE | — | $31.3B | US$64.22 | -22.1% | 39.69 | 0.54% | 0.70 | |
IQ IQV IQVIA Holdings Inc. | Healthcare | NYSE | +129 | $30.4B | US$182.05 | +19.8% | 22.63 | — | 1.18 | |
NT NTRA Natera, Inc. | Healthcare | NASDAQ | +66 | $30.3B | US$211.85 | +29.8% | — | — | 1.57 | |
CN CNC Centene Corporation | Healthcare | NYSE | +139 | $29.4B | US$59.55 | +2.6% | — | — | 1.06 | |
VE VEEV Veeva Systems Inc. | Healthcare | NYSE | +115 | $29.2B | US$178.72 | -33.1% | 32.05 | — | 0.92 | |
BI BIIB Biogen Inc. | Healthcare | NASDAQ | +141 | $28.9B | US$195.96 | +51.8% | 21.10 | — | 0.20 | |
GE GEHC GE HealthCare Technologies Inc. | Healthcare | NASDAQ | +154 | $28.2B | US$62.03 | -9.5% | 14.95 | 0.22% | 0.87 |