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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.
9 popular COVID testing stocks to watch
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 stocks.
- Abbott Laboratories (ABT)
- Quidel Corporation (QDEL)
- Cue Health (HLTH)
- Lucira Health (LHDX)
- Walgreens Boots Alliance (WBA)
- CVS Health (CVS)
- Agilent Technologies (A)
- Hologic (HOLX)
- Laboratory Corporation of America (LH)
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The COVID testing stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering COVID testing stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.
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- 6% cash rebate plus $2,200 in trading perks
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How to invest in COVID testing stocks
- Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
- Sign up for an account. Provide your personal information and sign up.
- Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
- Choose the stocks you want to buy. Search for the stock by name or ticker symbol like ABT or CVS.
- Place your order. Buy the stock. It's that simple.
Learn more about popular 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, together with its subsidiaries, 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 company 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, hypertriglyceridemia, 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.
- Previous close price: $126.71
- Market capitalization: $225,270,824,960
- 1 year performance: 5.45%
- P/E ratio: 17.0236
2. Quidel Corporation (QDEL)
QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point of Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.
- Previous close price: $36.12
- Market capitalization: $2,436,167,424
- 1 year performance: -23.57%
3. Cue Health (HLTH)
Cue Health Inc. operates as a healthcare technology company. It provides the Cue Health platform that offers individuals and healthcare providers convenient and personalized access to lab-quality diagnostic tests at home and at the point-of-care, as well as on-demand telehealth consultations and treatment options for a range of health and wellness needs.
- Previous close price: $0.00
- Market capitalization: $6,904,593
- 1 year performance: 0.29
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.
- Previous close price: $0.00
- Market capitalization: $18,362,928
- 1 year performance: N/A
5. Walgreens Boots Alliance (WBA)
Walgreens Boots Alliance, Inc. operates as a healthcare, pharmacy, and retail company in the United States, Germany, the United Kingdom, and internationally. It operates through three segments: U.
- Previous close price: $11.23
- Market capitalization: $9,736,915,968
- 1 year performance: -46.93%
6. CVS Health (CVS)
CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services, including medical, pharmacy, dental and behavioral health plans, medical management capabilities, Medicare Advantage and Medicare Supplement plans, PDPs and Medicaid health care management services.
- Previous close price: $65.68
- Market capitalization: $82,809,348,096
- 1 year performance: -12.51%
- P/E ratio: 17.9454
7. Agilent Technologies (A)
Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The company operates in three segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab.
- Previous close price: $121.18
- Market capitalization: $33,451,137,024
- 1 year performance: -18.05%
- P/E ratio: 26.9106
8. Hologic (HOLX)
Hologic, Inc. engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.
- Previous close price: $60.71
- Market capitalization: $13,701,387,264
- 1 year performance: -21.21%
- P/E ratio: 19.2089
9. Laboratory Corporation of America (LH)
Labcorp Holdings Inc. provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services.
- Previous close price: $239.53
- Market capitalization: $20,048,660,480
- 1 year performance: 10.13%
- P/E ratio: 27.0962
Buy COVID testing stocks from these online trading platforms
Compare special offers, low fees and a wide range of investment options among top trading platforms.Note: The dollar amounts in the table below are in Canadian dollars.
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Finder Score for stock trading platforms
To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.
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. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.
Related: How to buy stocks in Canada
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, 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 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.
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