3 Bargain Healthcare Stocks to Consider in October

The healthcare industry is often misunderstood as being in decline due to patent cliffs, politics, and soaring medical costs. However, it remains one of the largest and most critical industries in the U.S., with total healthcare spending totaling nearly $15,000 per capita.

Some healthcare stocks are trading at bargain prices that investors may want to jump on before the end of October. Pfizer, for instance, trades at just over 9 times this year's earnings estimates and yields a hefty 6%. The company has an ambitious pipeline with 95 candidates in total, including 31 in phase 3 clinical trials.

Bristol Myers Squibb faces a patent cliff, but management is well-equipped to navigate the challenge. The company trades at only 9 times this year's earnings estimates and yields 4%. UnitedHealth Group continues to grow despite a laundry list of problems that would sink many other companies.