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Amid so much uncertainty about the prospects for next year's economy, could health care be one sector that’s immune to any talk of double-dip?
For insights we turned to Ken Shubin Stein, M.D. of Spencer Capital Management.Dr. Shubin Stein tells the desk that in this space he thinks diagnostics are the place to put money to work.
”I think this is going to be the decade of diagnostics, he says in a live interview on CNBC's Fast Money. “Diagnostics are about 3% of the health care budget but they drive 75% of spending... they’re crucial to the system and they’re good for the system. They save everybody money and they're good for patients."
As a result Shubin Stein suggests putting the following on your radar:
Quest DiagnosticsLab Corp of AmericaQuest is a little cheaper on a valuation basis and Lab Corp is a little more attractive on a profitability basis. “But I think both will do very well,” he says.On a related note, Dr. Shubin Stein likes Myriad Genetics which owns the gene tests for breast and ovarian cancers. "Only half the women that should get the tests actually are getting the tests," he says. "There's huge growth here as we educate and get more people tested."
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