EW - This Market Crash Is the Perfect Time to Buy These 2 Forever Stocks
The coronavirus outbreak pushed stocks into a bear market in March, but these sharp declines do offer us opportunities to buy shares of otherwise healthy companies that may lift our portfolios in the long term. Though 2020 looks foggy for everyone at the moment, the following two stocks had the pre-crisis profit and revenue to make them solid post-crisis bets.
Image source: Getty Images.
As hospitals struggle to handle the influx of coronavirus patients, doctors have postponed elective surgeries to free up resources. That means less revenue in the quarter for medical device companies that supply equipment for those procedures. Edwards Lifesciences (NYSE: EW) may have an advantage, though. The company generates 61% of its sales from transcatheter heart valve therapy -- the repair and replacement of heart valves through a catheter instead of a more invasive surgical procedure. Even in the current health crisis, heart valve replacements are less likely to be postponed than elective services that don't involve a vital organ. That's good news for revenue in the current quarter -- and means the company may be able to continue the growth we've seen in previous quarters.