Healthcare industry is expected to remain in investors’ crosshairs amid increasing concerns regarding the spread of the COVID-19 Delta variant. So, fundamentally sound large-cap companies Abbott Laboratories (NYSE:ABT), Thermo Fisher Scientific (TMO), and Medtronic (NYSE:MDT) are expected to grow significantly in the near term. Let’s look closer at these names.Bullish market sentiment driven by the fast-paced vaccination drive and strong economic revival pushed benchmark indices to hit record highs in the first half of 2021. Although the major benchmark indexes have dipped slightly over the past week, analysts don’t expect the downtrend to continue for long. However, concerns over high inflation will likely sustain market volatility for some time.
The healthcare industry has been one of the major beneficiaries of market optimism over the past few months. Companies in this space have invested heavily in research and development to strengthen their positions in the market. According to LBMC’s fourth annual Business Outlook Survey Report, 92% of healthcare organizations expect substantial revenue growth in 2021.
Given the rising demand for healthcare services worldwide and robust tech integration in the industry, we think betting on large-cap stocks Abbott Laboratories (ABT), Thermo Fisher Scientific Inc. (NYSE:TMO), and Medtronic plc (MDT), which possess solid growth attributes, could be rewarding.