3 Stocks Driving The Health Care Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 29 points (-0.2%) at 16,918 as of Monday, June 23, 2014, 1:00 PM ET. The NYSE advances/declines ratio sits at 1,480 issues advancing vs. 1,509 declining with 147 unchanged.

The Health Care sector currently sits down 0.2% versus the S&P 500, which is down 0.1%. Top gainers within the sector include AbbVie ( ABBV), up 1.1%, and Medtronic ( MDT), up 0.6%. On the negative front, top decliners within the sector include Regeneron Pharmaceuticals ( REGN), down 3.0%, Alexion Pharmaceuticals ( ALXN), down 2.1%, Grifols ( GRFS), down 1.9%, Smith & Nephew ( SNN), down 1.8% and Novo Nordisk A/S ( NVO), down 1.3%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Forest Laboratories ( FRX) is one of the companies pushing the Health Care sector higher today. As of noon trading, Forest Laboratories is up $2.29 (2.4%) to $99.16 on light volume. Thus far, 802,997 shares of Forest Laboratories exchanged hands as compared to its average daily volume of 2.4 million shares. The stock has ranged in price between $97.86-$99.45 after having opened the day at $98.16 as compared to the previous trading day's close of $96.87.

Forest Laboratories, Inc., a specialty pharmaceutical company, develops, manufactures, and sells branded forms of ethical drug products in the United States and Europe. Forest Laboratories has a market cap of $26.4 billion and is part of the drugs industry. Shares are up 61.4% year-to-date as of the close of trading on Friday. Currently there are 4 analysts who rate Forest Laboratories a buy, no analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Forest Laboratories as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, good cash flow from operations and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Forest Laboratories Ratings Report now.

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2. As of noon trading, Covidien ( COV) is up $0.99 (1.1%) to $91.10 on average volume. Thus far, 1.9 million shares of Covidien exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $89.85-$91.16 after having opened the day at $89.95 as compared to the previous trading day's close of $90.11.

Covidien plc develops, manufactures, and sells healthcare products for use in clinical and home settings worldwide. Covidien has a market cap of $41.1 billion and is part of the health services industry. Shares are up 32.3% year-to-date as of the close of trading on Friday. Currently there are 9 analysts who rate Covidien a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Covidien as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Covidien Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Actavis ( ACT) is up $5.38 (2.5%) to $222.27 on average volume. Thus far, 1.4 million shares of Actavis exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $218.03-$223.18 after having opened the day at $220.25 as compared to the previous trading day's close of $216.89.

Actavis plc, an integrated specialty pharmaceutical company, is engaged in the development, manufacture, marketing, sale, and distribution of pharmaceutical products in the Americas, Europe, the Middle East, Africa, Australia, and the Asia Pacific. Actavis has a market cap of $37.5 billion and is part of the drugs industry. Shares are up 29.1% year-to-date as of the close of trading on Friday. Currently there are 15 analysts who rate Actavis a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Actavis as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk. Get the full Actavis Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the health care sector could consider Health Care Select Sector SPDR ( XLV) while those bearish on the health care sector could consider ProShares Ultra Short Health Care ( RXD).

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