Discover Why HUB and Resmed CDI Are ASX Shares to Watch

Hub24 Ltd and ResMed CDI have both shown significant movements in their share prices in 2024, highlighting their distinct trajectories and market positions. Here's a closer look at what’s driving these changes and why they might be worth considering for an ASX investment watchlist. 

Hub24 Ltd (ASX:HUB) 

Hub24 Ltd, founded in 2007, has rapidly emerged as a key player in the wealth management sector. The company offers a suite of software and management platforms tailored to financial advice, superannuation, and investment management. 

Hub24’s core products include: 

- HUB24: A platform designed for financial advisers and their clients, providing access to a diverse range of managed funds and investment options. 

- Class: A leading software solution for managing self-managed super funds, handling portfolios, legal documentation, and compliance. 

- myprosperity: A provider of client portals that enhance the service experience for accountants and advisers. 

In 2024, Hub24 has received recognition for its excellence in service. The company was awarded Overall Best Platform in the Adviser Ratings Financial Advice Landscape Report and achieved top rankings for Overall Satisfaction and Brand Image and Reputation in the 2024 Wealth Insights Platform Service Level Report. 

The HUB share price has surged by 54.4% since the beginning of 2024. This impressive growth reflects the company's strong performance and its increasing prominence in the wealth management industry. 

ResMed CDI (ASX:RMD) 

ResMed, established in 1989 by Peter Farrell and now based in San Diego, California, is a prominent medical equipment company specializing in cloud-connected continuous positive airway pressure (CPAP) machines for treating obstructive sleep apnea (OSA). While its primary listing is on the NYSE, ResMed is also listed on the ASX. 

ResMed operates globally, employing over 10,000 people and serving more than 140 countries. The company has two main business units: 

- Sleep and Respiratory Care: This unit focuses on CPAP machines and offers solutions for patients requiring varying levels of respiratory support, from nightly therapy to life-support. 

- Software as a Service (SaaS): ResMed provides software for durable or home medical equipment (DME/HME), enhancing out-of-hospital care. 

The RMD share price has demonstrated significant resilience, currently tracking 73.0% above its 52-week lows. This positive movement highlights ResMed’s robust position in the medical equipment sector and its strong market performance. 

Valuation Insights 

For Hub24 Ltd, the current price-to-sales ratio stands at 13.72x, compared to its 5-year average of 11.61x. This indicates that the shares are trading above their historical average. While this valuation metric provides a snapshot of the company's market position, it's important to consider it alongside other factors when assessing investment potential. 

Both Hub24 Ltd and ResMed CDI have shown noteworthy performance in 2024, each within their respective sectors. Hub24’s significant share price increase reflects its growing influence in the wealth management industry, while ResMed’s strong market position in the medical equipment sector is evident in its resilient share performance. These factors make both companies noteworthy candidates for those looking to diversify their ASX investment portfolios.