Find out which big health care stocks performed best in yesterday's range-bound market

Published: January 26 2023, 00:07 GMT+0

Find out which big health care stocks performed best in yesterday's range-bound market

Markets were flat yesterday, yet Eli Lilly and Company, Pfizer, Johnson & Johnson showed impressive gains and made this list of top gainers.

Markets did not have a clear cut direction — Nasdaq slipped 0.18% and closed at 11,300. S&P 500 closed at 4,016.22 after a flat day.

Current market events are being influenced by ambiguous macro data as Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

Despite yesterday's flat session, several mega cap health care stocks are managing to post notable gains. Take a look at the market's Top Gainers:

+0.71%: Johnson & Johnson gains 0.71% within $166.94 to $169.51 daily range

A possible change of direction spotted from yesterday; after closing at $168.31 on Tuesday, Johnson & Johnson maintained a strong bullish bias that helped the stock close higher at $169.51 yesterday. However, market bears ensured the the medical devices and pharmaceutical manufacturer topped out at $169.51 and that by the end of the session, the market had marked out a distinct $166.94 to $169.51 range. Johnson & Johnson's market cap is currently $443.18 billion with an average daily volume of 6 million shares. So far this year, it has been doing worse than the Dow by 7.34%.

Pfizer | Up 0.81% to $45.07 yesterday

While Pfizer was in the midst of a 12 day downtrend— in which it lost a total of 11.49%— A possible reversal detected from yesterday; pronounced bullish sentiment in the market helped the pharmaceuticals and biotechnology company to make a notable 0.81% gain yesterday, rising 36 cents and ultimately closing at $45.07.

Pfizer is scheduled to announce earnings results Tuesday. The consensus EPS estimate is 1.05 and the consensus revenue estimate is $24.31 billion.

+0.96%: bullish mood lifts Lilly to session high of $349.78

Generally flat but with a slight bullish bias, Lilly ranged between $343.83 and $349.78 before closing higher at $349.73. Lilly is currently trading with a market cap of $332.31 billion with an average daily trading volume of 2.19 million shares. So far this year, it has been under-performing the S&P by 9.88%.

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