As risk-on returns to markets, we've seen the healthcare sector underperform significantly in recent months. While sectors like technology, communication, discretionary and others surge to new all-time highs, healthcare lags noticeably.
However, many healthcare names have become dramatically oversold in recent months, and even years, in some cases. Meanwhile, high quality companies appear to be incredibly cheap due to the relentless and persistent selling that took place in this sector.
While most segments skyrocketed by 20-30%, or more since the December bottom, healthcare has rebounded by a very modest 6%. This relative underperformance