Top 3 ASX Healthcare Stocks to Buy

The following 3 ASX healthcare stocks stand out as compelling opportunities at current valuations backed by strong operational execution and important recent milestones that could drive long-term shareholder value.

Telix Pharmaceuticals Limited (ASX: TLX)

Telix Pharmaceuticals Limited (ASX: TLX) has surged 32% over the past one month due to improved investor confidence but the stock is still trading around 30% below its level from 12 months ago which means that there is still meaningful upside if it returns to its previous highs.

The company in the first quarter of FY26 reported outstanding results as group revenue rose 11% quarter-over-quarter to US$230 million which included Precision Medicine revenue of US$186 million and it also reaffirmed full year revenue guidance of US$950 million to US$970 million while its current market capitalisation is $5.83 billion.

The investment case has become more compelling after the FDA confirmed that Part 1 safety data supports progress into Part 2 of the global Phase 3 ProstACT trial for TLX591-Tx.

The FDA also agreed with the clinical protocol and statistical framework while preparations are underway to expand the trial into the United States.

The company is also advancing several late-stage therapeutic and diagnostic assets which include regulatory submissions for brain cancer imaging and kidney cancer programs while commercial sales of Illuccix and Gozellix continue to expand across global markets.

Imricor Medical Systems, Inc. (ASX: IMR)

Imricor Medical Systems, Inc. (ASX: IMR) on 2 July 2026 announced that it had received FDA 510(k) clearances which allow both its NorthStar system and Vision-MR Diagnostic Catheter to be used in pediatric patients and open a new commercial opportunity across more than 250 children's hospitals in the United States.

The company ended FY25 with a strong liquidity position of US$40.8 million in cash and marketable securities to support future growth while the stock has already risen 33% year-to-date.

Recent regulatory progress has been positive because Imricor also submitted Module 3 of its four-part FDA Premarket Approval (PMA) application for its MRI-guided cardiac ablation platform which leaves only the final clinical module before it seeks U.S. approval later this year.

Imricor has built a differentiated position in radiation-free MRI-guided cardiac procedures and current market capitalisation is $721.12 million.

Sonic Healthcare Limited (ASX: SHL)

Sonic Healthcare Limited (ASX: SHL) reported a strong financial performance in the first half of FY2026 as revenue grew 17% to $5.45 billion while EBITDA rose 10% to $907 million and net profit increased 11% to $262 million.

Cash generated from operations grew 10% to $682 million while earnings per share increased 8% to 53.1 cents compared with the prior corresponding period.

Recent developments included the integration of the LADR and Cairo Diagnostics acquisitions as well as the restructuring of its U.S. pathology operations while the company also expanded laboratory infrastructure across Europe and Australia.

The company also advanced its capital management initiatives through the Brisbane laboratory sale and leaseback which is expected to generate $450 million to $500 million and could support future share buy-backs funded by the property sale proceeds.

Management has maintained its FY2026 guidance and expects EBITDA of $1.87 billion to $1.95 billion while its focus remains on organic growth and margin expansion across its global operations.

The company also reaffirmed its progressive dividend policy with a medium-term payout ratio target of 70% to 80% of net profit and Sonic Healthcare has a current market capitalisation of $10.29 billion with a partially franked annual dividend yield of 5.19%.

(Source: Company Announcements)