The healthcare space has been on a wild ride since the beginning of the year on an international market rout and a biotechnology sell-off. Although, a positive momentum constructed up in the space over the past 1 month on making better the market fundamentals, low valuations and positive earnings expectation.
In fact, earnings from 24.4 percent of the sector market capitalization that have reported so far are up 8.7 percent with a beat ratio of 87.5 percent on revenue growth of 14 percent and revenue surprise of 75 percent. In addition to, stock costs have moved up by an average of 2.4 percent in the wake of earnings results as per the Zacks Earnings Report . Notably, a solid Q1 earnings report from the leading drug maker Johnson & Johnson ( JNJ ) spread powerful optimism into the sector previous week.
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