Ipsen Completes Acquisition of Select Consumer Healthcare Products from Sanofi
Health Care Select Sector SPDR boasts a portfolio full of wide-moat names and a competitive price tag.
This ETF holds a swath of large- and mid-cap U.S. healthcare companies.
Merck's reinvigorated pipeline and Sanofi's minimal patent-loss exposure placed them atop our rankings this year, while GlaxoSmithKline joined Pfizer toward the bottom.
A group of top managers remains cautious and commits more capital to traditional defensive sectors, while taking advantage of a rising (and potentially overvalued) market to book some gains.
It was a good year for wide-moat stocks overall, but Exxon, Amazon, and a few others lagged the market, says Morningstar markets editor Jeremy Glaser.
Funds that emulate the Oracle of Omaha have done well over time.
Many developed-country health-care firms have deep roots in emerging markets and can be a good way to gain exposure, says Morningstar's Damien Conover.
The health-care sector has a higher volume of moat firms compared with other industries, and companies' patent and brand power deliver very strong returns on capital.
Top managers continue to focus on higher-quality dividend-paying stocks in a fully valued market.