Investors in healthcare should look deeper into sub-sectors: Biotechnology, devices, diagnostics, drugs and tools.
As of Dec. 15 the S&P was up 12.94% but the healthcare sector was the laggard, up only 0.43%. Compare this to the leaders: Consumer Discretionary up 24.34%, Industrials up 21.81% and Materials up 14.9%. Healthcare represents 11.17% of the S&P. But there are many sectors within healthcare that are doing quite well if we look at subcategories that are really "technology" such as medtech and biotech. Many life science stocks have soared in 2010: Alexion (ALXN), Exelixis (EXEL), Illumina (ILMN) and Neogen (NEOG). The broad category labeled healthcare underperformed in 2010. The healthcare component of the S&P overweights large cap drug and biotech stocks like Abbott (ABT), Amgen (AMGN), Merck (MRK) and Pfizer (PFE) that have underperformed other S&P sectors.
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