#7 - LumiraDx Ltd (NASDAQ:LMDX)
Whenever we analyze a group of sector stocks, we like to include stocks that fit every investing style. So, closing out this list of health care stocks is LumiraDx Ltd (NASDAQ:LMDX). This is a small-cap company that is involved in point-of-care diagnostics. The company provides diagnostic information to health care providers at the point of care. This allows decisions to be made that can, in theory, head off larger health problems which can help to lower cost.
This is a growing sector and the company does have competitors in this space. LumiraDx is not yet profitable and they are not expected to be anytime soon. And not many analysts cover the stock right now. Nevertheless, the company is starting to draw interest from institutional investors. Whenever investors look at stocks like LMDX, they also need to consider that the company may become a takeover target if it continues to post revenue growth.
About LumiraDx
LumiraDx Limited operates as a point of care diagnostics company. The company focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. It manufactures and commercializes a diagnostic platform that supports various tests with lab comparable performance at the point of care.
Read More - Current Price
- $0.00
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
In 2022, health care spending is expected to be 6.7%. This is slightly below the 7% growth in spending between 2020 and 2021. However, it is higher than pre-pandemic growth which shows that the pandemic may still have a long tail. Covid-19 related expenses are expected to continue as will spending to address mental health.
And this doesn't include the ongoing need for treatment of chronic conditions such as cancer or diabetes. It's no wonder that even in the midst of the pandemic, spending on health care grew between 2019 and 2020. And with inflation likely to remain a concern for the rest of 2022 and beyond, health care is one sector that will have no problem passing along its costs.
This growth shows the adaptability this sector continues to exhibit. From telehealth to robotic surgeries, to AI being used to help predict health outcomes, there are many ways that the health care system continues to benefit from innovation.
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