You don't need to have a lot of cash on hand to start investing in the stock market. Even if you've only got a few hundred dollars to put to work, there are still plenty of wonderful companies that you can add to your portfolio, particularly in a time where most brokerages allow investors to purchase fractional shares of just about any business. 

Remember, price doesn't tell you anything about a stock other than what the market values it at during a given point in time. A "cheap" or "expensive" share price alone shouldn't be the reason you buy a stock. However, if you're looking for stocks to buy right now for less than $120 a pop, here are two names to consider with wonderful businesses that look well-positioned to deliver growth and returns for investors in the years ahead. 

1. DexCom

DexCom (DXCM -2.67%) is one of the leading makers of continuous glucose monitoring (CGM) systems in the world. As of the end of 2022, 1.7 million people globally were using its CGM products. Furthermore, the company generated about 40% of all CGM-related revenue worldwide last year.

Not only does this massive market footprint bode well for DexCom's continued growth in this space -- approximately 1.4 million people are diagnosed with diabetes each year in the U.S. alone -- but this would also indicate a significant, still untapped market opportunity for the diabetes care leader.

In 2022, the company reported revenue of $3 billion, along with net income of $341 million. These two figures increased 20% and 60%, respectively, from the prior-year period.  

Meanwhile, over the trailing five years alone, DexCom has seen its annual revenue soar by 100%, while earnings have risen by 240%. Right now, DexCom is in the middle of launching its latest product, the G7 CGM. Marketed as 60% smaller than its predecessor, with the fastest warm-up time of any such device on the market, and as part of the most-covered and reimbursed CGM brand commercialized to date, the G7 should be the latest in a long line of strong growth catalysts for DexCom.  

For investors looking for a resilient healthcare business with products that not only face consistent demand in a wide range of markets, but growing demand, DexCom hits the mark on all counts. 

2. Chewy 

Chewy (CHWY 0.19%) may seem like an average pet care company at first glance, but a deeper look reveals a rapidly diversifying business infrastructure that is working to penetrate virtually all aspects of the multibillion-dollar pet industry. The e-commerce giant carries thousands of pet-oriented brands that feature everything from bedding to toys to sofas to cat trees, but that just barely scratches the surface of this growing company. 

The company has its own telehealth service for pets, which allows pet owners to contact a licensed veterinarian and be connected via chat or text in moments. It has a growing selection of pet health insurance plans, thanks to partnerships with well-known companies Lemonade and Trupanion.

Chewy's online pharmacy dispenses a range of prescription medications, and pet owners can also access compounded medications through this service. 

There's also the non-prescription pet wellness slice of the industry, which management estimates could be valued at more than $2 billion. Chewy recently entered the space with the release of its own branded line of pet supplements.

In an environment where smooth fulfillment and streamlined operating costs are more essential than ever, the company is also making strides with its growing network of automated fulfillment centers, which now process 30% of all its shipping volume. Chewy expects to open two more in the coming months alone.

In the nearly four years since its initial public offering, Chewy has seen its annual revenue grow by more than 80%. At the end of the third quarter, the business had 20.5 million active customers on its platform, a 9% increase in gross customer additions compared to the same period in 2019 (before the pandemic supercharged its growth).

While the pet industry is a space not wholly untouched by recessionary headwinds, it's more resilient than many retail categories because people largely continue to spend money on their pets in all economic environments. If you're looking to invest in the growth potential of the pet industry -- and in a profitable business at that (Chewy recorded $2.3 million in net income in the third quarter of 2022) -- this top stock may be worth adding to your list of buys this month.