CSL, RHC, RMD: Look at the performance of these ASX healthcare stocks

4 min read | April 27, 2022 06:53 PM AEST | By Priyanka Payal

CSL, RHC, RMD: Look at the performance of these ASX healthcare stocks — Image source: © Rastudio| Megapixl.com

Highlights

The benchmark index ASX200 was down 0.817% at 7258.200 points at 3:22 PM AEST on Wednesday (27 April 2022).

The S&P/ASX 200 Health Care Index (ASX:XHJ) was 1.380% lower at 40598.200 points during the intraday trading session on Wednesday (27 April 2022).

ResMed is expected to release its financial and operational results for the third quarter of the fiscal year 2022 on 28 April 2022.

The Australian share market traded lower as the benchmark index ASX200 was down 0.817% at 7258.200 points at 3:22 PM AEST today.

Seven out of 11 sectors traded lower today, while the Energy sector remained the best performing sector today.

The S&P/ASX 200 Health Care Index (ASX:XHJ) was 1.380% lower at 40598.200 points during the intraday trading session on Wednesday (27 April 2022).

In this article we will talk about three ASX-listed healthcare stocks which have been on investors' radar lately. The three stocks include CSL Limited (ASX:CSL), Ramsay Health Care Ltd. (ASX:RHC), and ResMed Inc (ASX:RMD).

The healthcare sector is of immense importance to any country, and it has gained even more significance after the COVID-19 outbreak. The Coronavirus pandemic brought unprecedented challenges, and new healthcare methods and techniques gained prominence after the pandemic struck the world.

As the healthcare system developed, those pharmaceutical companies that adapted to the new change emerged as the winners.

Telehealth or telemedicine, which gives people remote access to healthcare, has become a new normal today. The last two years have witnessed many healthcare companies adopting telehealth solutions. Healthcare companies equipped with artificial intelligence technology benefitted immensely from e-Health services.

In its commitment to provide better healthcare facilities, the Morrison Government announced an investment of AU$132 billion in 2022–23 for the health system in the recently announced budget. With a further increase to AU$140 billion in 2025–26, the govt's total commitment over the next four years reached AU$537 billion.

Image Source: © Rastudio | Megapixl.com

CSL Limited (ASX:CSL)

The shares of ASX-listed biotechnology company CSL Limited (ASX:CSL) traded 1.280% lower at AU$265.890 per share on ASX at 4:11 PM AEST. The company's shares have been in focus after the biotech firm successfully priced bonds worth US$ 4 billion in the US market.

The company stated that it would use the cash proceeds from the offering to partially finance Vifor Pharma Limited's proposed acquisition. On 14 December 2021, CSL announced the acquisition of Vifor Pharma, a world leader in the treatment of anaemia and iron deficiency.

In the last one year, CSL shares have fallen 1.89%, while the stock is up 10.17% year-to-date (YTD).

*Ramsay Health Care Ltd. (ASX:RHC***)

Today, the share price of ASX-listed healthcare company Ramsay Health Care Ltd. (ASX:RHC) traded 1.652% lower at AU$81.510 per share on ASX at 3:20 PM AEST. Ramsay Health Care Ltd. operates a network of hospitals and has a market capitalisation of AU$18.96 billion.

Last week, Ramsay confirmed that it had received a conditional, non-binding, indicative proposal from a consortium of financial investors led by KKR (the Consortium) to acquire all the shares in Ramsay via a scheme of arrangement.

In the last one year, the share price of Ramsay Health Care Ltd. has gained 19.43%, while the stock is up 13.41% YTD.

ResMed Inc (ASX:RMD)

ResMed Inc shares traded 2.499% lower at AU$30.420 per share on ASX at 4:11 PM AEST today.

The ASX-listed California-based medical device company has a market capitalisation of AU$45.63 billion. ResMed shares have gained 10.82% in the last 12 months, while the stock is down 15.92% YTD.

Earlier this month, ResMed announced that it expects to release its financial and operational results for the third quarter of the fiscal year 2022 on 28 April 2022, after the New York Stock Exchange closes.

In its results for the quarter ended 31 December 2021, the company reported its Year-over-year revenue growth of 12%, operating profit up 12%, and non-GAAP operating profit up 5%.

Read More: Alcidion (ASX:ALC) inks significant contracts in third quarter

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