3 high-yield healthcare shares to buy today

Companies like Sonic Healthcare Limited (ASX:SHL) could offer dividends and growth.

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With the aging population and the constant need for medicine and medical treatment the healthcare sector will continue to grow. Healthcare stocks are often considered to be defensive because health-related products and services are essential. During economic downturns, people will still require medicine and medical help. 

Below are three healthcare stocks to consider that also have good dividend yields. 

Sigma Healthcare Ltd (ASX: SIG) is Australia's largest pharmaceutical wholesaler and manufacturer, which gives the company business diversification due to the many products it distributes. 

The stock tumbled in May on news of legal action against My Chemist Warehouse by Sigma Healthcare due to the retailer advising they would purchase medicines from a different wholesaler. The legal action has now been dropped and the two parties are in discussions.  

The stock now trades on a P/E ratio of 14.5 below the sector average of 18. The dividend yield is currently 6.67%, which has remained steady the last couple of years. 

This week the company finalised the process of purchasing Medical Packaging Systems. MPS is Australia's largest provider of dose administration services to the aged care sector. 

Sonic Healthcare Limited (ASX: SHL) is an international medical diagnostics company, offering laboratory medicine/pathology and radiology services to the medical community.

The dividend yield is 3.78% and the company has increased or kept dividends steady for the last 10 years.

The company's share price has pulled back recently and trades at a P/E of 20. The company announced on Tuesday that its UK joint venture, Health Services Laboratories, has won the exclusive contract to provide pathology/clinical laboratory services to Barnet Hospital and Chase Farm Hospital in London. Both hospitals are part of the Royal Free London NHS Foundation Trust. 

1300 Smiles Limited (ASX: ONT) owns and operates full-service dental facilities at its sites in New South Wales, South Australia, and in the 10 major population centres in Queensland and also in Adelaide.  

The company has a dividend yield of 3.6%. The dividend is stable and has increased for the last 4 years, so will be one to watch for long-term dividend growth. 

The dental aggregator is committed to growing the business and this week announced that it has entered into conditional contracts to acquire three well-established, multi-dentist, practices in Queensland. 

Motley Fool contributor Christopher Coe  has no financial interest in any company mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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