The healthcare industry has a reputation for being fairly resistant to recessions. After all, people get sick whether or not they're employed, and people are often willing to sacrifice other priorities in order to cover their healthcare spending needs when money gets tight.
Still, that doesn't mean healthcare stocks can only move upward. Both economic fears and company-specific issues can send a company's stock price tumbling. In addition, the market may not adequately recognize the growth potential of a business. Those sorts of things can lead to a company's stock being available at a reasonable price.
With that in mind, we asked three Motley Fool contributors to each pick a healthcare stock that looks worthy of purchasing this August. They selected Abiomed (NASDAQ: ABMD), Trulieve Cannabis (OTC: TCNNF), and Cardinal Health (NYSE: CAH). Here's why.