2 Healthcare Stocks That Crushed the Market Last Year -- And Still Have Room to Grow
Coming into 2020, stocks were riding the wave of one of the longest bull markets in history. But the economic fallout of the COVID-19 pandemic brought that streak to a close. The market fell sharply in early 2020 as recorded cases of the disease grew in the U.S. and abroad, although it recovered nicely during the second half of the year.
The S&P 500 was up 16.3% last year, a respectable performance considering the volatility. However, some stocks managed to perform much better than that. For instance, shares of Tandem Diabetes Care (NASDAQ: TNDM) rose by 60.5% in 2020, while DexCom's (NASDAQ: DXCM) stock gained 69% in the same period. These two healthcare companies have something else in common: They develop and market products that help diabetes patients manage their illnesses.
This market is already quite large: Roughly 34.2 million Americans have diabetes, and 88 million more have prediabetes. And studies indicate that these numbers will continue to increase. Companies that help people manage this disease are likely to remain in high demand.
Source Fool.com
