September 13, 2021 – As we get closer to the end of Q3 of 2021, it’s important for investors to identify the most lucrative healthcare stocks to invest in. According to The Motley Fool, these three healthcare stocks are “rapidly expanding into their own corners of America’s $4 trillion per year healthcare sector.”
Him & Hers Health (NYSE:HIMS)
Him & Hers Health offers a differentiated service that has streamlined the pharmaceutical process by integrating online physician visits with pharmaceutical delivery services. By disrupting this complicated process, the company has developed a system that puts the consumer first. In the second quarter, Him & Hears reported a 69% increase in revenue to an annualized $243 million. Spending on prescription drugs and primary care in the United States comes out to around $880 billion every year, which gives Him & Hers plenty of room to grow in their niche.
Inari Medical (NASDAQ:NARI)
Inari Medical is pioneering venous-specific devices with venous anatomy and clot morphology in mind. Inari’s catheter-based clot removal system allows physicians to remove blood clots without the need for patients to take blood thinners. The company’s annualized revenue is $254 million in a market that is worth billion. Inari’s devices could be used to treat pulmonary embolisms, which generates $2 billion in spending every year. Inari is in a niche that could be profitable for the foreseeable future.
Renalytix (NASDAQ:RNLX)
Renalytix works to keep bad kidneys from getting worse. With an estimated 37 million Americans suffering from chronic kidney disease, Renalytix understands the need for a solution to avoid kidney failure. By using a pattern-recognizing algorithm, Renalytix can help doctors make informed decisions that can slow the progression of kidney failure. It also helps to conserve resources by informing doctors which patients need less intervention. Without a clear competitor, Renalytix could be a lucrative investment for quite some time.