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11 top research stocks to buy in 2024

Ready to invest in the medical industry? Learn how to invest in research stocks in just a few steps.

The best research stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

The top medical stocks included on this page all trade on the S&P 500, have an analyst recommendation of "Buy" or better and are sorted by year-to-date performance.

  1. Biocept (BIOC)
  2. Opko Health (OPK)
  3. Natera (NTRA)
  4. Danaher Corporation (DHR)
  5. IDEXX Laboratories (IDXX)
  6. Co-Diagnostics (CODX)
  7. DexCom (DXCM)
  8. Laboratory Corporation of America (LH)
  9. Agilent Technologies (A)
  10. Illumina (ILMN)
  11. Thermo Fisher Scientific (TMO)

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How to invest in research stocks

  1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
  2. Sign up for an account. Provide your personal information and sign up.
  3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
  4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like BIOC or OPK.
  5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into research stocks

If you're interested in investing in the medical industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

1. Biocept (BIOC)

Biocept, Inc. , a molecular oncology diagnostics company, develops and commercializes proprietary clinical diagnostic laboratory assays designed to identify rare tumor cells and cell-free tumor DNA from blood and cerebrospinal fluid, or CSF in the United States. Its cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring to identify resistance mechanisms.

Biocept stock opened the day at $0.00 after a previous close of $0.00. The latest price was $0.00 (25-minute delay). Biocept is listed on the NASDAQ, has a trailing 12-month revenue of around USD1.4 million and employs 50 staff.

  • Market capitalization: $1,142,060
  • PEG ratio: -0.04

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2. Opko Health (OPK)

OPKO Health, Inc. , a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Spain, Chile, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.

Opko Health stock opened the day at $1.57 after a previous close of $1.58. The latest price was $1.56 (25-minute delay). Opko Health is listed on the NASDAQ, has a trailing 12-month revenue of around USD$711.4 million and employs 3,930 staff.

  • Market capitalization: $1,049,567,936
  • PEG ratio: -2.87

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3. Natera (NTRA)

Natera, Inc. , a diagnostics company, develops and commercializes molecular testing services worldwide. Its products include Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus, as well as in twin pregnancies; Horizon carrier screening test for individuals and couples determine if they are carriers of genetic variations that cause certain genetic conditions; Vistara single-gene NIPT screens for 25 single-gene disorders that cause severe skeletal, cardiac, and neurological conditions; Spectrum, preimplantation genetic tests for couples undergoing IVF; Anora that analyzes miscarriage tissue from women; Empower, a hereditary cancer screening test; and non-invasive prenatal paternity product, which allows a couple to establish paternity without waiting for the child to be born.

Natera stock opened the day at $170.00 after a previous close of $167.88. The latest price was $169.36 (25-minute delay). Natera is listed on the NASDAQ, has a trailing 12-month revenue of around USD$1.5 billion and employs 3,282 staff.

  • Market capitalization: $22,359,076,864
  • PEG ratio: 0

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4. Danaher Corporation (DHR)

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions. The Life Sciences segment provides mass spectrometers; flow cytometry, genomics, lab automation, centrifugation, liquid handling automation instruments, antibodies and reagents, and particle counting and characterization; microscopes; protein consumables; industrial filtration products; and genomic medicines, such as custom nucleic acid products, plasmid DNA, RNA, and proteins under the ABCAM, ALDEVRON, BECKMAN COULTER, IDT, LEICA MICROSYSTEMS, MOLECULAR DEVICES, PALL, PHENOMENEX and SCIEX brands.

Danaher Corporation stock opened the day at $233.92 after a previous close of $233.10. The latest price was $235.05 (25-minute delay). Danaher Corporation is listed on the NYSE, has a trailing 12-month revenue of around USD$23.7 billion and employs 61,000 staff.

  • Market capitalization: $172,898,189,312
  • P/E ratio: 45.6832
  • PEG ratio: 2.8382

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5. IDEXX Laboratories (IDXX)

IDEXX Laboratories, Inc. develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.

IDEXX Laboratories stock opened the day at $409.55 after a previous close of $418.61. The latest price was $418.55 (25-minute delay). IDEXX Laboratories is listed on the NASDAQ, has a trailing 12-month revenue of around USD$3.8 billion and employs 11,000 staff.

  • Market capitalization: $34,690,453,504
  • P/E ratio: 41.4936
  • PEG ratio: 4.5255

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6. Co-Diagnostics (CODX)

Co-Diagnostics, Inc. , a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.

Co-Diagnostics stock opened the day at $1.04 after a previous close of $1.04. The latest price was $1.06 (25-minute delay). Co-Diagnostics is listed on the NASDAQ, has a trailing 12-month revenue of around USD$7.3 million and employs 155 staff.

  • Market capitalization: $35,122,780
  • PEG ratio: 0

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7. DexCom (DXCM)

DexCom, Inc. , a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers.

DexCom stock opened the day at $74.83 after a previous close of $75.24. The latest price was $74.46 (25-minute delay). DexCom is listed on the NASDAQ, has a trailing 12-month revenue of around USD$4 billion and employs 9,500 staff.

  • Market capitalization: $29,083,703,296
  • P/E ratio: 45.1273
  • PEG ratio: 1.1764

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8. Laboratory Corporation of America (LH)

Labcorp Holdings Inc. provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services.

Laboratory Corporation of America stock opened the day at $237.66 after a previous close of $237.85. The latest price was $240.17 (25-minute delay). Laboratory Corporation of America is listed on the NYSE, has a trailing 12-month revenue of around USD$12.7 billion and employs 67,000 staff.

  • Market capitalization: $19,921,207,296
  • P/E ratio: 45.2814
  • PEG ratio: 0.5095

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9. Agilent Technologies (A)

Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The company operates in three segments: Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab.

Agilent Technologies stock opened the day at $129.71 after a previous close of $128.57. The latest price was $132.06 (25-minute delay). Agilent Technologies is listed on the NYSE, has a trailing 12-month revenue of around USD$6.5 billion and employs 17,400 staff.

  • Market capitalization: $37,944,532,992
  • P/E ratio: 27.4553
  • PEG ratio: 2.7701

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10. Illumina (ILMN)

Illumina, Inc. offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments.

Illumina stock opened the day at $131.35 after a previous close of $131.68. The latest price was $136.99 (25-minute delay). Illumina is listed on the NASDAQ, has a trailing 12-month revenue of around USD$4.4 billion and employs 10,590 staff.

  • Market capitalization: $21,726,615,552
  • PEG ratio: 0.6167

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11. Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

Thermo Fisher Scientific stock opened the day at $514.12 after a previous close of $512.84. The latest price was $516.10 (25-minute delay). Thermo Fisher Scientific is listed on the NYSE, has a trailing 12-month revenue of around USD$42.4 billion and employs 122,000 staff.

  • Market capitalization: $197,408,243,712
  • P/E ratio: 32.3574
  • PEG ratio: 1.9462

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Bottom line

While it’s possible to turn a profit investing in research stocks, keep in mind that — like any investment — research stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the medical industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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