![]() As of June 16, the Health Care sector’s earnings share was 15.4%, while its capitalization share was only 14.4%. The sector’s earnings as a percentage of the S&P 500’s total earnings routinely has exceeded its market capitalization as a percentage of the S&P 500’s total market capitalization. The Health Care sector sports a dividend yield of 1.5%, and its forward P/E of 14.8 is lower than the S&P 500’s forward P/E of 15.9, both as of June 16 ( Fig. ![]() There’s lots to like about the Health Care sector, especially given the market’s turmoil. Here’s the performance derby for the S&P 500 and its sectors from June 16 through Tuesday’s close: Health Care (6.7%), Utilities (6.7), Real Estate (6.6), Consumer Staples (4.5), Information Technology (4.4), S&P 500 (4.2), Communication Services (4.1), Financials (4.0), Consumer Discretionary (4.0), Industrials (2.5), Materials (0.7), and Energy (-1.0) ( Table 1). Here’s the performance derby for the S&P 500 and its sectors ytd through Tuesday’s close: Energy (36.6%), Utilities (-3.1), Consumer Staples (-7.2), Health Care (-9.6), Materials (-17.1), Industrials (-17.2), Financials (-18.2), S&P 500 (-19.8), Real Estate (-20.7), Information Technology (-26.4), Communication Services (-29.5), and Consumer Discretionary (-32.0) ( Fig. This year, the sector has been an outperformer during the market’s ytd slide, and it has led the market in the days since the S&P 500 hit its most recent low on June 16. Health Care: Mending? For years, the S&P 500 Health Care sector hasn’t gotten any respect, but a bear market has a way of shaking things up. … And: A look at where Tesla is going with its battery technology. … Also: Which fintechs deserve master accounts with access to the Fed’s payments system? A couple of recent controversies put that question front and center as the Fed works on rules to govern the process of granting master accounts. Jackie parses the opportunity, examining the investment pros and cons of the sector overall and of specific industries and companies within it. Check out the accompanying pdf and chart collection.Įxecutive Summary: The S&P 500’s Health Care sector is pumped: It has outperformed most other sectors ytd and is tied for first place (with Utilities) measured since the S&P 500’s recent low on June 16.
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