Cryptocurrencies have taken over where last year’s coronavirus vaccine stocks left off. And their gains have been even bigger. For example, vaccine stock Novavax soared 2,700% last year. This year, much talked about meme coin Shiba Inu has surged a whopping 45,000,000%. In the short term, crypto players have been the golden ticket.
But the long-term growth picture for cryptocurrencies still is unclear. That’s because it’s a new industry and we don’t yet know if use of these platforms will truly take off — and which ones will dominate. So, if you’re looking for a bit more visibility, you may want to check out a few healthcare growth stocks. I’ve chosen three with more long-term potential than any crypto player.
Teladoc Health (NYSE:TDOC) had a great 2020. Investors flocked to shares of the telehealth company. That’s because the pandemic led more and more people to try online medical visits — and revenue and visits skyrocketed. But this year hasn’t been so great for Teladoc investors. The shares are heading for a 52% decline. The problem? Some worry patients will abandon online medical visits once the pandemic is over.
Teladoc has given us solid clues that its success isn’t chained to the pandemic. The health crisis continues — but lockdowns are no longer in place and people have returned to their routines. And at the same time, Teladoc still is growing. The company reported a 81% increase in revenue and a 37% gain in patient visits in the most recent quarter. Teladoc’s “whole person” approach also is keeping patients coming back for all or most of their medical needs. For instance, 24% of chronic care members have signed up for multiple programs. And Teladoc predicts total patient visits this year will increase by at least 37% from last year.
This year won’t be the best for Teladoc from a stock performance perspective. But with a strong financial picture and increasing platform use, everything is in place for major business and share price growth over the long term.
Intuitive Surgical (NASDAQ:ISRG) is the leader in the robotic surgery market. The company holds more than 79% of the market, according to BIS Research. Intuitive’s Da Vinci robot helps surgeons perform minimally invasive procedures in areas such as general surgery, urology, and gynecology. This flagship product has been involved in more than 8.5 million procedures worldwide.
Intuitive sells the Da Vinci system for about $2 million. And it has about 6,525 systems installed throughout the world. But what’s most interesting is Intuitive doesn’t generate revenue uniquely through sales of the Da Vinci. Intuitive also makes money through leasing of the systems. And Intuitive actually makes most of its revenue from selling instruments and accessories and services. Each …….