The broader market is selling off again but healthcare especially. I am soliciting for insight against healthcare in general. I separate healthcare into pharmaceuticals(PFE, BMY, ABBV, etc), insurers(UNH, CVS, HUM), medical technology(MDT, JNJ, BSX, SYK), diagnostics (LH, ABT, DGX) hospitals (HCA, SEM), and then there's the speculative stuff like tdoc and your clinical stage research penny stocks and of course REITs (VTR, MPW, WELL).
Bull case: most pay a dividend, many have favorable P/E and P/S, healthcare costs are increasing and currently little political headwinds change to that other than pharmaceuticals.
Bear case: increasing labor costs, some of those companies and are at PEs of 40-60, broader concerns of recession.
As a sector, I am positioned for healthcare to outperform. What am I missing?
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