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COVID testing stocks

Ready to invest in the COVID-19 testing industry? Consider these 9 stocks.

The COVID-19 pandemic triggered massive volatility in the stock market, with increased instability in recent weeks as surging cases have led to a rush of people looking for tests. We've rounded up 9 stocks in companies that produce or sell COVID tests.

The best stocks depend on your portfolio and investment goals. While volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

Take a deeper dive into COVID testing stocks

We round up a selection of stocks in or related to the COVID-19 testing industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

1. Abbott Laboratories (ABT)

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

Abbott Laboratories stock opened the day at $134.88 after a previous close of $135.14. The latest price was $135.56 (25 minute delay). Abbott Laboratories is listed on the NYSE, has a trailing 12-month revenue of around USD42.3 billion and employs 109,000 staff.

  • Market capitalization: $226,624,061,440
  • P/E ratio: 31.8015
  • PEG ratio: 2.6196

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2. Quidel Corporation (QDEL)

Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology worldwide. It offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus, a POC products to detect infectious and inflammatory diseases and conditions of the eye. The company also provides Triage MeterPro, a portable testing platform that enables physicians to promote enhanced health outcomes, as well as the detection of certain drugs of abuse; Triage BNP test for use on Beckman Coulter lab analyzers; and Triage TOX drug screen, which provides results for the determination of the presence of drug and/or the major metabolites in urine.

Quidel Corporation stock opened the day at $122.34 after a previous close of $121.25. The latest price was $123.00 (25 minute delay). Quidel Corporation is listed on the NASDAQ, has a trailing 12-month revenue of around USD$1.9 billion and employs 1,370 staff.

  • Market capitalization: $4,788,876,288
  • P/E ratio: 5.5632
  • PEG ratio: 7.19

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3. Cue Health IncCommon Stock (HLTH)

Cue Health Inc. , a healthcare technology company, designs and develops diagnostic platform for diagnostic tests for public sectors, healthcare providers, large enterprises, and individual consumers. The company offers Cue Integrated Care platform comprising hardware and software components, such as Cue Health Monitoring System comprising a portable and reusable reader (Cue Reader), a single-use test cartridge (Cue Cartridge), and a sample collection wand (Cue Wand); Cue Data and Innovation Layer, a solution with cloud-based data and analytics capability; Cue Virtual Care Delivery Apps, which include Cue Health App and Cue Enterprise Dashboard; and Cue Ecosystem Integrations and Apps, a solution that allows for integrations with third-party applications and sensors.

Cue Health IncCommon Stock stock opened the day at $9.80 after a previous close of $9.79. The latest price was $9.27 (25 minute delay). Cue Health IncCommon Stock is listed on the NASDAQ, has a trailing 12-month revenue of around USD$438.9 million and employs 1,290 staff.

  • Market capitalization: $1,492,902,656

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4. Lucira Health (LHDX)

Lucira Health, Inc. , a medical technology company, focuses on the development and commercialization of infectious disease test kits. It develops a testing platform that produces molecular testing services.

Lucira Health stock opened the day at $6.56 after a previous close of $6.58. The latest price was $8.50 (25 minute delay). Lucira Health is listed on the NASDAQ, has a trailing 12-month revenue of around USD$32.2 million and employs 102 staff.

  • Market capitalization: $252,214,176

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5. Walgreens Boots Alliance (WBA)

Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and beauty retail company. It operates through two segments, the United States and International.

Walgreens Boots Alliance stock opened the day at $49.61 after a previous close of $49.17. The latest price was $49.50 (25 minute delay). Walgreens Boots Alliance is listed on the NASDAQ, has a trailing 12-month revenue of around USD$135 billion and employs 202,000 staff.

  • Market capitalization: $46,875,668,480
  • P/E ratio: 7.321
  • PEG ratio: 12.0008

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6. CVS Health Corporation (CVS)

CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services. It serves employers, insurance companies, unions, government employee groups, health plans, prescription drug plans, Medicaid managed care plans, plans offered on public health insurance and private health insurance exchanges, other sponsors of health benefit plans, and individuals.

CVS Health Corporation stock opened the day at $90.64 after a previous close of $89.99. The latest price was $90.87 (25 minute delay). CVS Health Corporation is listed on the NYSE, has a trailing 12-month revenue of around USD$284 billion and employs 213,000 staff.

  • Market capitalization: $140,216,600,000
  • P/E ratio: 16.8246
  • PEG ratio: 2.0889

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7. Agilent Technologies (A)

Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The Life Sciences and Applied Markets segment offers liquid chromatography systems and components; liquid chromatography mass spectrometry systems; gas chromatography systems and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; inductively coupled plasma optical emission spectrometry instruments; raman spectroscopy; cell analysis plate based assays; flow cytometer; real-time cell analyzer; cell imaging systems; microplate reader; laboratory software; information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps, and measurement technologies.

Agilent Technologies stock opened the day at $157.29 after a previous close of $156.78. The latest price was $157.80 (25 minute delay). Agilent Technologies is listed on the NYSE, has a trailing 12-month revenue of around USD$6.3 billion and employs 17,000 staff.

  • Market capitalization: $43,693,502,464
  • P/E ratio: 36.7208
  • PEG ratio: 2.1606

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8. Hologic (HOLX)

Hologic, Inc. develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment in the United States, Europe, the Asia-Pacific, and internationally. It operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.

Hologic stock opened the day at $76.48 after a previous close of $76.62. The latest price was $76.56 (25 minute delay). Hologic is listed on the NASDAQ, has a trailing 12-month revenue of around USD$5.6 billion and employs 6,705 staff.

  • Market capitalization: $17,496,385,536
  • P/E ratio: 9.6519
  • PEG ratio: 0.8737

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9. Laboratory Corporation of America (LH)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

Laboratory Corporation of America stock opened the day at $313.24 after a previous close of $313.34. The latest price was $314.21 (25 minute delay). Laboratory Corporation of America is listed on the NYSE, has a trailing 12-month revenue of around USD$16.6 billion and employs 70,000 staff.

  • Market capitalization: $26,420,854,784
  • P/E ratio: 9.7946
  • PEG ratio: 2.0681

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How to buy COVID testing stocks

Sign up with an online broker or platform to invest in one of more of these COVID testing stocks.

  1. Compare share trading platforms. If you're a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Use our comparison table to narrow down top brokers by fees and bonuses.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for the stock you're interested in. Find the stock by name or ticker symbol, like ABT or CVS. Research its history to confirm it's a solid investment against your financial goals.
  4. Purchase now or later. Invest in the COVID-19 testing industry today with a market order or use a limit order to delay your purchase until the stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market's ups and downs. You may be able to buy fractional shares, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of a COVID testing company. Optimize your portfolio by tracking how your stock — and even the COVID-19 testing sector as a whole — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Bottom line

While it's possible to turn a profit investing in COVID testing stocks, keep in mind that — like any investment — COVID testing stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the COVID-19 testing industry, so carefully vet your picks before you invest. And if you're new to investing, or if it's been awhile since you've taken a critical look at your investing accounts, compare brokers to make sure you're getting the best features in your trading account.

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