Top 5 Health Care Stocks That May Rocket Higher In Q1 2023

The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Azenta Inc AZTA

• Azenta reported worse-than-expected Q1 sales. The company’s stock has a 52-week low of $37.61 .
• RSI Value: 27.60
• AZTA Price Action: Shares of Azenta fell 0.2% to close at $43.87 on Friday.

Globus Medical Inc GMED

• Globus Medical posted upbeat quarterly earnings. The company’s stock has a 52-week low of $52.60.
• RSI Value: 28.36
• GMED Price Action: Shares of Globus Medical fell 1.3% to close at $58.76 on Friday.

Deciphera Pharmaceuticals Inc DCPH

• Deciphera Pharmaceuticals posted a Q4 loss of $0.60 per share. The company’s stock has a 52-week low of $6.51.
• RSI Value: 29.15
• DCPH Price Action: Shares of Deciphera Pharmaceuticals fell 2% to close at $14.26 on Friday.

Abbott Laboratories ABT

• Abbott Laboratories agreed to acquire Cardiovascular Systems for $20/share for an equity value of approximately $890 million. The company’s 52-week low is $93.25.
• RSI Value: 24.67
• ABT Price Action: Shares of Abbott Laboratories fell 2% to close at $100.46 on Friday.

Royalty Pharma plc RPRX

• Royalty Pharma posted weaker-than-expected quarterly sales. The company has a 52-week low of $36.08.
• RSI Value: 28.93
• RPRX Price Action: Shares of Royalty Pharma dropped 2.1% to close at $36.38 on Friday.

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