Are these 3 Smart Score Healthcare “Perfect 10” actions a safe bet?

In a turbulent market like this, investors can face a big challenge trying to identify the best stocks to buy now. In addition to supply chain headwinds, geopolitics and inflation, the volatility of earnings season can also complicate the situation for investors looking for the right stocks for their long-term investment.

The good news is that TipRanks has a perfect solution to help you narrow down the right stocks to buy in any market condition across all industries. Based on a variety of data-driven insights, the TipRanks Smart Score tool makes it easy for investors to gauge a stock’s potential performance.

Indeed, the tool stood out by guiding investors in the selection of winning stocks. Since 2016, stocks with a smart TipRanks “Perfect 10” score have significantly outperformed the S&P 500, delivering 72.8% alpha on the index. This means that Top TipRanks Smart Score stocks can be reliable investments even in an uncertain market.

Let’s take a look at three healthcare stocks with a Smart TipRanks “Perfect 10” score, indicating they could be good bets in the sector at times like these.

BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical, headquartered in California, develops treatments for rare genetic diseases. It has seven products on the market and several product candidates in various stages of development.

The company posted record first-quarter 2022 revenue, fueled by strong sales of Vimizim, Naglazyme, Brineura and Voxzogo products. Voxzogo is BioMarin’s latest product, having only been launched in the market in the third quarter of 2021.

BioMarin management sees a transformational year in 2022, citing the strong commercial launch of Voxzogo and potential approvals for severe hemophilia treatment valoctocogene roxaparvovec in the United States and Europe. Additionally, management says 2022 will mark BioMarin’s transition to sustainable profitability.

The consensus among analysts is a strong buy based on 13 buys and two holds. BioMarin’s average price target stands at $114.36 and implies over 36% upside potential. Meanwhile, BioMarin’s stock is down about 6.5% year-to-date.

Lanthee (LNT)

Lantheus, based in Massachusetts, is a global supplier of diagnostic products. Its products help doctors identify conditions that affect organs such as the brain, heart and lungs.

Global medical diagnostics market was valued at USD 56 billion in 2020 and is projected to grow at a steady annual rate of 8.6% till 2026. The growth of the market is driven by the growing health awareness among the populations.

Lantheus reported a 125.8% year-over-year increase in revenue to $208.9 million in the first quarter of 2022. Adjusted EPS increased to $0.97, from $0.05 in the same quarter of the previous year. Following strong first quarter results, the company raised its revenue and profit outlook for 2022.

The consensus among analysts is a strong buy based on three buys. Lantheus’ average price prediction stands at $84.67 and implies an upside potential of around 28.97% from current levels. Lantheus shares have gained 125% since the start of the year.

InMode (INMD)

InMode, based in Israel, is a medical device and technology company. Its products are aimed at both patients and healthcare professionals. The products have wide application including face, skin and body treatment.

InMode posted record revenue of $85.9 million in the first quarter of 2022, representing a 31% year-over-year increase. Adjusted EPS of $0.40 increased from $0.34 in the same quarter a year ago.

Management is encouraged by the strong start to 2022. InMode is expanding into the women’s health market in hopes of becoming the market leader. Demand for the products is increasing as in-person visits to healthcare facilities return to pre-pandemic levels.

As supply chain and inflation challenges persist, InMode CEO Moshe Mizrahy said the company is proactively managing the process. In the first quarter, for example, the executive said it had successfully mitigated the impact of the supply chain and inflation headwinds.

The consensus among analysts is a strong buy based on three buys. InMode’s average price target stands at $68.33 and implies an upside potential of over 162% from current levels. InMode shares are down 60% since the start of the year.

Key takeaway for investors

In addition to carrying the smart TipRanks “Perfect 10” score, InMode, Lantheus and BioMarin stocks also have Wall Street’s Strong Buy rating. In addition, these companies have the potential to continue to show excellent financial performance thanks to strong demand for their products.

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