ASX Health Shares
Australia has a great healthcare system that has significantly increased affordability, better universal access, and reduced variability in health outcomes given social determinants. The ASX healthcare sector includes biotech and pharmaceutical companies, owners and operators of hospitals, and designers and manufacturers of medical devices.
Healthcare companies are operating at the cutting edge of science and research. Investors often consider that more mature healthcare companies are great defensive shares to own in their portfolios.
Pharmaceutical, biotech, and life science companies develop and produce treatments for serious diseases, injuries, and other medical conditions.
ASX Healthcare shares consider a diverse range of companies, some of which are among the largest listed on the ASX in terms of market capitalization. Let’s look at some of the ASX healthcare companies that are actively engaged in the healthcare business with cutting-edge technology. These are as follows:
CSL Ltd. (ASX: CSL)
CSL Ltd. (ASX: CSL) has a market capitalization of $128.95 billion and a share price of $266.92 as of 8 December 2023.
The company has a strategic plan for the rollout of HEMGENIX to more patients in the US and Europe. In the CSL Vifor business, the company has a target to unleash its growth potential. The growth in the iron and nephrology markets is well visible. Even though the company has challenges in its Vifor profile, it is confident enough to meet the unmet patient needs. The outlook further develops on account of CSL Seqirus's substantial progress in global registrations for its next-generation mRNA COVID-19 vaccine.
Pro Medicus Limited (ASX: PME)
Pro Medicus Limited (ASX: PME) has a market capitalization of $9.32 billion and a share price of $89.18 as of 8 September 2023.
The company continues to maintain a strong project pipeline and has seen further growth in the same with the number of added contracts during FY23 and the subsequent period.
The recently secured contracts are all notably in the United States and support PME’s rapid expansion into North American academic medical centers. The transaction-based model of the company adds utility and value for both the company and the clients since it opens up space for scaling up while also allowing marketability, as clients are only supposed to pay for what they use, regardless of their size.
Resmed Inc. (RMD)
Resmed Inc. (ASX: RMD) has a market cap of $14.70 billion and a share price of $24.70 as of 8 December 2023.
RMD has kicked off FY2024 on a strong note by delivering revenue growth primarily catered to patient flow and solid demand across global sleep and respiratory care markets. The company has immense potential for enhancing demand worldwide with technologies, as evidenced by the increasing adoption of outside hospital software solutions. The unique selling proposition of its AirSense 11 platform has positioned the company well in place to continue growing across global markets.
Frequently Asked Questions (F.A.Q)
What are the best healthcare stocks to buy now?
Some of the best ASX healthcare companies that our research team has identified might show a turnaround in the future. These are CSL Ltd. (ASX: CSL); Resmed Inc. (RMD); and Pro Medicus Limited (ASX: PME). Someone may track these companies.
What’s your call on Resmed Inc. (ASX: RMD)?
RMD has kicked off FY2024 on a strong note by delivering revenue growth primarily catered to patient flow and solid demand across global sleep and respiratory care markets. The company has immense potential for enhancing demand worldwide with technologies, as evidenced by the increasing adoption of outside hospital software solutions.
Should you buy healthcare stocks in Australia?
The ASX contains numerous healthcare stocks for their investing choices; therefore, an investor may achieve a variety of investing goals by buying healthcare stocks in different categories, such as high-growth or defensive shares, depending on their individual risk appetite and preferences.
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