The longer you keep your all-weather stocks, the higher your returns will be.
Every portfolio might benefit from a few evergreen growth stocks issued by firms that can continue to expand for years without making significant changes to their business methods or goods.
Evergreens often have lasting power because they get a consistent boost from long-term trends in the population or economy, which is part of the secret sauce that may make them killer investments.
With that in mind, let’s look at a pair of evergreen growth stocks that have already made many investors wealthy by outperforming the market over the previous ten years. Both market solutions target long-term health concerns that are growing increasingly prevalent.
1. DexCom stock (NASDAQ:DXCM)
DexCom (DXCM) manufactures wearable continuous glucose monitors (CGMs) that provide patients with diabetes with minute-by-minute data on their blood glucose levels, allowing them to better regulate their symptoms. Its stock is seen as a high-value stock in the market.
It’s a simple choice: be pinched once to insert one of its CGM sensors, which will last ten days and produce thousands of measures, or get pinched several times per day, every day, and collect as many measurements as the patient can handle. DexCom’s monitors offer a lower-friction choice for patients, which is one of the factors driving the company’s increasing market share over time as compared to previous approaches.
Its quarterly revenue has increased by 277% over the last five years, hitting $696 million in the second quarter. And the number of individuals needing its equipment grows by the day. Diabetes was anticipated to affect 537 million individuals worldwide between the ages of 20 and 79 in 2021, and it is expected to affect 783 million people by 2045.
2. Surgical STAAR stock (NASDAQ:STAA)
STAAR Surgical (STAA) is also a medical device company, but instead of producing a product that replaces older methods of measuring blood glucose levels, it produces implantable Collamer lenses (ICLs), which are intended to correct your vision in the same way that glasses or contact lenses do. The key distinction is that they are semi-permanently implanted into the patient’s eyes, eliminating the annoyances associated with glasses or contact lenses.
STAAR’s ICLs capitalize on a long-term trend of increasing nearsightedness, which is predicted to impact up to half of the world’s population by 2050.
STAAR controls around 9% of the worldwide ICL market while having a far lower part of the total vision correction industry, which includes contact lenses and eyeglasses.
STAAR’s entire addressable market now consists of around 35 million individuals with nearsightedness and an additional 55 million people with farsightedness.
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