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AbbVie Inc – 2021 Top Medical Stocks

Medical stocks are viewed by investors as part of the defensive basket. They tend not to see a major fall in demand for drugs during wars, pandemics, market crashes, and other significant events. Consumer staples are also regarded in a similar manner. Most portfolios, therefore, tend to build some exposure to stocks from such sectors to balance out the higher-risk growth stocks. If you are building a portfolio for the long term, then including medical stock long-term is certainly one approach that you can consider. There are plenty of medical stocks to choose from. AbbVie is one of the major biotechnology companies in the US specializing in the research, development, and manufacturing of drugs. It has grown its revenues and net income at a reasonable rate over the past decade. The company was spun off from another giant healthcare company Abbott Labs, back in 2013.

AbbVie Releases Q22021 Earnings Numbers

On 21st July 2021, AbbVie announced its second-quarter 2021 earnings results. Total revenues rose from $10.4 billion in Q22020 to $13.9 billion in Q22021. Operating earnings also jumped from $752 million in Q22020 to $4.4 billion. Diluted earnings per share swung from a loss of $0.46 per share to a profit of $0.42 per share. In terms of segment performances, Immunology revenue was up 13.8% year-on-year, neuroscience revenues were up 29.6%, and eyecare revenues were up 24.1%. The women’s health segment revenues were the only ones in the negative at -17%, while oncology was up 13.2%. The company CEO Rochard Gonzalez also said that the integration of Allergan was continuing well and that the aesthetics segment delivered strong growth during the quarter. AbbVie is among the 2021 top medical stocks that investors can look at.

Medical Stock Long Term

When we consider medical stocks for the long term, we want to look at the stock’s long-term performance. In the case of AbbVie, the stock has risen by 200% since 2013. Since the March 2020 market crash, the price is up 66%.

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