The healthcare sector may be moving towards a bounce back as the The Health Care Select Sector SPDR Fund (XLV) hit an intraday record on Friday and remains at a high point for the year.
Fort Pitt Capital Group chief investment officer Dan Eye joins Market Domination says the healthcare space is headed towards an "inflation point." He says that companies’ returns are normalizing after seeing a boom stemming from the COVID-19 pandemic. Eye is bullish on the space arguing "analysts are expecting very strong earnings growth for this quarter and the picture should even improve in the coming quarters and into 2025. And the sector trades at a very reasonable valuation, a pretty significant discount to the overall S&P 500 as well."
Watch the video above to hear why Merck (MRK) and UnitedHealth Group (UNH) are two of Eye’s top healthcare picks.
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