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Moreover, the industry is expected to grow with the rising healthcare needs of an aging population. According to Statista, the United States is expected to have spent 18% of its gross domestic product on healthcare in 2020, a spending level that is likely to increase this year and beyond.
So, we think it could be wise to add quality healthcare stocks UnitedHealth Group Incorporated (NYSE:UNH) and Agilent Technologies, Inc. (NYSE:A) to one’s portfolio now. These companies’ shares are trading below their 52-week highs but have significant upside potential. Furthermore, these stocks are rated ‘A’ (Strong Buy) in our POWR Ratings system.
