Health-care stocks are trailing the S&P 500, but investors could find profits in some medical device plays, says stock-picking expert Matt Maley.
div > div.group > p:first-child"> After leading the market in 2018, health stocks are trailing the S&P 500 this year, with the group up only 6 percent this year versus the S&P's 11 percent gain, but one stock picker sees three ways to play a potential resurgence in the space.
Boston Scientific struck Maley because of its notably positive action in recent months, with shares up over 25 percent since their late-December lows.Danaher's recent announcement that it will purchase General Electric's biopharmaceutical business has lifted its stock, which Maley said was"breaking out" regardless of the news.
"Now, all these names are a little bit overbought on a near-term basis, so they might have to take a breather," Maley said."But I just think it shows that, after this big run, that we're going to have to be more selective in the health-care group and, really, in all the groups."
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