iQoncept/iStock via Getty Images The Health Care Select Sector SPDR Fund ETF ( NYSEARCA: XLV ), tracking the healthcare companies under S&P 500, rose 0.11% in the second quarter of 2024, lagging behind the broader S&P 500 index which rose 4.30%.
Insulet ( PODD ) saw the biggest growth in the S&P 500 healthcare index, rising about 25% as it continues to gain market share in the type 1 diabetes market. Eli Lilly ( LLY ) came in second, rising nearly 16.31%, as it continues to ride the weight loss frenzy.
The overall sector saw a gradual drop in April as major pharmaceutical companies reported their earnings but has risen steadily till end of June with a slight dip in end of May. Industries Q2 performance The Health Care Equipment & Services sector and Pharmaceuticals, Biotechnology and Life Sciences fell 3.3% each in the second quarter of the year.
The healthcare-focused ETF had a net flow of -$1.53M in the quarter. Top 5 S&P 500 healthcare performers in Q2: Insulet Corporation ( PODD ) +24.
95% Eli Lilly and Company ( LLY ) +16.31% Moderna ( MRNA ) +14% Boston Scientific ( BSX ) +13.48% Vertex Pharmaceuticals ( VRTX ) +13.
27% Bottom 5 S&P 500 healthcare performers in Q2: Solventum Corporation ( SOLV ) -36.56% Molina Healthcare ( MOH ) -27.29% Align Technology ( ALGN ) -23.
86% Walgreens Boots Alliance ( WBA ) -23.65% CVS Health ( CVS ) -23.56% What Analysts Expect SA analyst John Bowman suggests, “The SPDR Healthcare Sector ETF is ripe for buying at the moment due to several f.
