Let’s take a quick look at the two healthcare stocks that closed higher on the Australian Securities Exchange today.
Headquartered in Sydney, Australia, Cochlear Limited (ASX: COH) has been engaged in delivering implant innovation for over three decades to hundreds of thousands of people worldwide. The company provides innovative and premium-quality implantable hearing solutions to patients.
Recently, Cochlear Capital Markets Day was held at the company’s global headquarters at Macquarie University. The presentations were delivered by the management, including CEO & President and Chief Technology Officer on occasion. The CEO & President of the company, Dig Howitt, provided an overview of strategic priorities, as indicated in the figure below.
The Chief Technology Officer of the company, Jan Janssen, presented on Cochlear’s innovation pipeline.
On 16th April 2019, the company announced the launch of the Nucleus® ProfileTM Plus Series implant. The implant was designed to perform routine 1.5 and 3 Tesla magnetic resonance imaging scans without any need to remove the internal magnet.
The company announced its financial results for the six months ending December 2018 on 19th Feb 2019. The company reported sales revenue of $711.9 million and net profit of $128.6 million during the period. The Cochlear implant units increased 5 per cent to 16,740.
The company’s stock advanced 2.41 per cent, closing at AUD 200.980 on 17th May 2019. Around 139,562 number of shares were in trade today. The market cap of the company stood at AUD 11.33 billion. The 52-week high and low value of the stock was recorded at AUD 221.440 and AUD 155.220, respectively.
A leading global biotech company, CSL Limited (ASX: CSL) deals in the development and delivery of innovative biotherapies and influenza vaccines that are used to save lives. The focus of the company lies in rare and severe diseases and influenza vaccines.
The company has recently notified about the hiring of Dr Paul McKenzie as the Chief Operating Officer. He will take charge from 3rd June 2019.
In its recently released, 2019 Half Year Results , the company reported sales revenue of $4,505 million (up by 11 per cent, cc basis) and net profit after tax of $1,161 million (up by 10 per cent, cc basis) during the period. Various factors contributed to the growth of the sales revenue of the company like increased usage of immunoglobulin products for chronic therapies, increased sales of transformational Hereditary Angioedema (HAE) product ‘HAEGARDA®’, increased sales of adjuvanted influenza vaccine and Seqirus’ portfolio of influenza vaccines transitioning towards higher valued Quadrivalent vaccines.
The company’s stock ended up higher at AUD 206.510 on 17th May 2019, up by 1.739 per cent relative to last closed price. The stock opened at AUD 205.00, fluctuated between a high and low value of AUD 207.00 and AUD 204.93, respectively. Around 724,490 number of shares were in trade today. The market cap of the company stood at AUD 91.97 billion. The 52-week high and low value of the stock was recorded at AUD 232.690 and AUD 173.000, respectively. The stock generated a YTD return of 9.49 per cent.
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