2 Defensive Healthcare Stocks to Buy Right Now

The S&P 500 soared over the past three years -- but since the start of this year, the benchmark has lost some of the positive momentum. This is for a variety of reasons. The possibility that the long-term revenue opportunity in the artificial intelligence (AI) market could disappoint has weighed on investors' minds. Uncertainty about the state of the economy and the pace of interest rate cuts also has prompted concern -- and the war in Iran added to this difficult picture.

With this in mind, now is a fantastic time to add a couple of defensive stocks to your portfolio -- these are companies that tend to deliver solid earnings performance even through difficult environments. Here are two such healthcare players to buy now and hold onto for the long term.

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1. Abbott Laboratories

I like Abbott Laboratories (NYSE: ABT) for two key reasons. First, it's a well-diversified healthcare business, meaning that if one part faces headwinds, other areas may compensate. The company has four units: medical devices, diagnostics, nutrition, and established pharmaceuticals. During the early days of the pandemic, diagnostics revenue soared, and now that this is no longer the case, the medical device business is driving growth.

And since Abbott's products are essentials, economic shifts aren't likely to affect the company's revenue much.

Abbott also makes a top buy because it's a Dividend King, meaning it's increased its dividend payments for more than 50 consecutive years. This commitment to dividend growth suggests you can count on the company to continue along this path. This passive income should limit the impact of tough market times on your portfolio.

2. Intuitive Surgical

Intuitive Surgical (NASDAQ: ISRG) is the global leader in robotic surgery. The company makes the Da Vinci line of surgical robots, and this portfolio has helped it deliver a solid track record of earnings growth over time.

ISRG Revenue (Annual) data by YCharts

What I like most about Intuitive Surgical is the company's solid moat, or competitive advantage. This is the fact that most surgeons train on Da Vinci systems, so it's likely they will opt to work on this platform they know well. And the second part of this moat is the following: The million-dollar price tag of these robots means the hospitals and healthcare systems that invest in them probably will stick with these devices in order to amortize the cost.

Intuitive Surgical also offers another advantage: It makes most of its revenue through the sales of accessories and instruments needed to perform surgeries on the Da Vinci -- and this is recurring revenue. All of this makes Intuitive Surgical a solid stock to own during any market downturn.

Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories and Intuitive Surgical. The Motley Fool recommends the following options: long January 2028 $520 calls on Intuitive Surgical and short January 2028 $530 calls on Intuitive Surgical. The Motley Fool has a disclosure policy.