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Stock market performance of Brazilian healthcare companies during the COVID-19 pandemic: a sectoral analysis

Author

Listed:
  • Marcos Gonçalves Perroni

    (Pontifical Catholic University of Parana, Imaculada Conceição 1155)

  • Carlos Otavio Senff

    (Pontifical Catholic University of Parana, Imaculada Conceição 1155)

  • Alessandra Cassol

    (Universidade Federal Rural Do Rio de Janeiro)

  • Wesley Vieira Silva

    (Federal University of Alagoas)

  • Mauricio Schifler

    (Contestado University (UnC))

  • Zhaohui Su

    (Institute for Human Rights, Southeast University)

  • Claudimar Pereira Veiga

    (Fundação Dom Cabral
    Federal University of Paraná)

Abstract

This study analyzes the stock market performance of 14 healthcare companies listed on the Brazilian stock exchange during the COVID-19 pandemic. It focuses on four subsectors: pharmaceuticals, drugs, equipment, and medical services. Using a comprehensive methodological approach—including the Capital Asset Pricing Model, Sharpe index, and panel data regression—the study assesses individual and portfolio behavior from January 2020 to July 2021. The findings reveal heterogeneous impacts of the pandemic across subsectors, with pharmaceutical companies showing more resilience than drug and medical service firms. The research provides investors, policymakers, and healthcare managers valuable insights by identifying sector-specific risk and return profiles during health crises.

Suggested Citation

  • Marcos Gonçalves Perroni & Carlos Otavio Senff & Alessandra Cassol & Wesley Vieira Silva & Mauricio Schifler & Zhaohui Su & Claudimar Pereira Veiga, 2025. "Stock market performance of Brazilian healthcare companies during the COVID-19 pandemic: a sectoral analysis," Future Business Journal, Springer, vol. 11(1), pages 1-16, December.
    • Handle: RePEc:spr:futbus:v:11:y:2025:i:1:d:10.1186_s43093-025-00527-5
    DOI: 10.1186/s43093-025-00527-5
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