VEEV - 2 Healthcare Stocks That Are Better Growth Buys Than Tesla
There are several tried-and-true approaches to stock investing. Value investors focus on companies that appear undervalued by the market. Dividend investors look for stocks that reward shareholders with sustained dividend increases. Meanwhile, growth investors buy shares of companies that are increasing their revenue or earnings faster than the industry averages.
One of the most popular growth stocks on the market is Tesla (NASDAQ: TSLA). The company is a leader in electric vehicles -- an industry that's likely keep growing at a good clip -- and Tesla's prospects have helped spur a strong run for its stock in the past year. Over the trailing 12-months period, Tesla's stock is up by 755.4% while the S&P 500 is up by a comparatively meager 12.5% since September 2019. In fact, Tesla's stock ran up so high that the company recently conducted a stock split.
After such a performance, some argue that years of Tesla's perceived success is already factored into its stock price, making it unattractive at current levels. Fortunately, there are other growth stocks to consider. In particular, here are two excellent picks in the healthcare industry that deserve a place in your portfolio: Teladoc Health (NYSE: TDOC) and Veeva Systems (NYSE: VEEV).