The last month has not been a stellar one for the broader stock market.We’re a long way from the lows of 2016, but there does not seem to be any viable catalyst that can help in pushing markets higher. 

In fact, Goldman Sachs cites slowing jobs growth, weak manufacturing data, and downside valuation risk as reasons for why the S&P 500 is expected to end the year at 2100.The value of the index is already higher than these levels, so the broader performance of your portfolio may see its returns stagnate from here.

To capture returns without running into too much valuation risk, you will want to look for companies that trade at lower earnings multiples. If you seek to increase your level of profitability at the same time, you should increase your exposure to sectors that are positioned to impress. We’ve selected three high growth candidates within the healthcare space, and their current valuation levels make them ripe for the picking right now.

Healthways Inc – (HWAY – Analyst Report)

Healthways Inc. provides well-being improvement solutions.It uses the science of behavior change to measure positive changes in well-being for its customers, which include employers, hospitals, physicians, government entities, and more. The company has various programs and solutions that are designed to impact lifestyle choices and activity levels for communities as well as individuals. Healthways is a Zacks Rank #2 (Buy) and it has a market cap of about $890 million.

Right off the bat, HWAY stock looks cheap since it trades at a forward PE of just 11.5. Healthways also has a PEG of 0.86, and this makes it an especially intriguing bargain. When a company has a PEG below one, it may be undervalued relative to its long term growth expectations. 

Our consensus estimates EPS of $2.11 for fiscal 2016, and this represents EPS growth of 1,216% compared to last year. Additionally, five analysts have revised their earnings estimates over the last two months, and all of those estimates were revised in the upwards direction.