Investing in the Future of Healthcare: An Overview of eHealth Stocks
The healthcare industry has undergone a major transformation in recent years, thanks to the advent of new technology and digital tools. Electronic health records, telemedicine, wearables, and health apps are just a few examples of the ways in which technology is changing the way healthcare is delivered and managed.
Investors looking to capitalize on this trend might consider eHealth stocks, which encompass a range of companies that provide technology solutions for healthcare providers, insurers, and consumers. eHealth can refer to a variety of technologies, from online patient portals to AI-powered diagnostics tools. In this overview, we’ll explore some of the top eHealth stocks to watch.
1. Teladoc Health (TDOC)
Teladoc Health is a telemedicine company that provides virtual medical consultations to patients through its platform. With the pandemic accelerating the adoption of virtual healthcare, Teladoc has seen a surge in demand for its services. As of late 2020, Teladoc had over 51 million members and 2.8 million virtual visits. The company’s revenue has doubled year-over-year, and it has a strong balance sheet with over $1 billion in cash and investments.
2. Livongo Health (LVGO)
Livongo Health is a digital health company that provides mobile apps and wearable devices to help people manage chronic conditions like diabetes and hypertension. The company’s proprietary AI-based platform collects patient data and uses it to provide personalized coaching and feedback. Livongo has seen strong growth in recent years, with revenue growing 160% year-over-year in Q2 2020. The company was recently acquired by digital health giant Teladoc for $18.5 billion.
3. Cerner Corporation (CERN)
Cerner Corporation provides electronic health records (EHR) and health IT solutions to healthcare providers. Its EHR system is used by more than 27,000 healthcare facilities around the world. Cerner has a strong track record of growth, with revenue growing 7% year-over-year in Q2 2020. The company’s partnerships with major healthcare providers like the Department of Veterans Affairs and Ascension Health give it a solid foothold in the healthcare industry.
4. Moderna (MRNA)
While not strictly an eHealth company, Moderna is a biotech firm that has developed a promising COVID-19 vaccine using mRNA technology. The company’s stock has surged this year, up more than 350% since January. With the pandemic continuing to be a major concern around the world, Moderna’s vaccine could be a major factor in the fight against COVID-19.
5. Medtronic (MDT)
Medtronic is a medical device company that produces a range of products, from pacemakers to insulin pumps. The company has been investing heavily in digital health solutions in recent years, including a partnership with IBM Watson Health to develop AI-powered diabetes management technology. Medtronic has a strong balance sheet, with over $9 billion in cash and investments as of Q2 2020.
In conclusion, the eHealth industry is poised for growth in the coming years as healthcare providers look for new ways to meet changing patient needs. Whether it’s through telemedicine, wearables, or AI-powered diagnostics, eHealth companies are at the forefront of this transformation. Investors looking to capitalize on this trend may want to consider adding eHealth stocks to their portfolios.
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