2 Diagnostics & Research Stocks Rated 'Strong Buy' in the POWR Ratings
StockNews
Published Oct 21, 2021 05:31PM ET
Updated Oct 21, 2021 06:00PM ET
2 Diagnostics & Research Stocks Rated 'Strong Buy' in the POWR Ratings
The diagnostics and research industry has grown substantially over the past few years owing to the integration of advanced technologies and impressive breakthroughs in the early diagnosis of chronic diseases. And because the industry is expected to continue growing with the rising imperative to quickly diagnose dangerous infectious diseases like COVID-19, we think it could be wise to bet on fundamentally sound stocks in this space Agilent (A) and Mettler-Toledo (NYSE:MTD). These stocks are rated ‘Strong Buy’ in our proprietary POWR Ratings system. So, let's discuss.Early prediction of acute diseases with the help of advanced diagnostics devices and continuing research breakthroughs have helped the diagnostics and research industry grow substantially over the past few years. Increasing investments in the healthcare sector and the integration of advanced technologies make the industry’s long-term prospects bright.
The COVID-19 pandemic has accelerated the growth of the diagnostics and research industry over the past year. Indeed, the global COVID-19 diagnostics market is projected to grow at a high CAGR between 2022 - 2030. And the global infectious disease diagnostic market is estimated to grow at a 6.8% CAGR from 2021 - 2030.
Therefore, we think fundamentally sound stocks Agilent Technologies, Inc. (NYSE:A) and Mettler-Toledo International Inc . (MTD) could be solid bets now. Our proprietary POWR Ratings system has rated these stocks ‘Strong Buy.’
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