CSL shares slide; ASX healthcare sector in red

July 19, 2022 02:10 PM AEST | By Ritwika

Google News:

CSL shares slide; ASX healthcare sector in red — Image source: Image source: © Timonschneider | Megapixl.com

Recent News

What are next big copper projects? UBS tells when equipment makers cou...

EUR/USD poised to rack up more gains as ECB and Fed rate paths set to...

Carney launches ‘One Canadian Economy’ Act to unify trade, approvals

Trump signs orders to enhance drone defenses, support supersonic trave...

Highlights:

A poor show by the Health Care sector has impacted one of the most expensive healthcare stocks on ASX, CSL Limited.

The S&P/ASX200 is lower today, and the S&P/ASX 200 Health Care sector is one of the worst performing sectors.

Australian healthcare giant CSL Limited (ASX:CSL) shares were spotted trading in the red territory during the morning trading hours today. CSL’s share price was quoted at AU$291.690 apiece, down 1.675% at 12:30 PM AEST on the ASX today (19 July).

The S&P/ASX 200 Health Care sector (INDEXASX:XHJ) is one of the worst performing sectors, shedding 1.88% as of 12:20 PM AEST on the ASX today (19 July).

What is wrong with CSL shares on the ASX today?

CSL has not come up with any significant announcement on the ASX since 11 May 2022. On 11 May, the healthcare giant announced that its Vifor Pharma acquisition would get postponed due to the delay in securing regulatory approval. The Vifor Pharma acquisition is a crucial move by CSL as it will help the company to expand its footprints in the nephrology market.

Therefore, today’s share price movement might be due to the poor performance of the healthcare sector on the ASX.

CSL has recently stepped into FY23. Earlier in an announcement, CEO of CSL Group, Paul Perreault, stated that the company is expecting to deliver around AU$2.15 to AU$2.25 billion in Net Profit After Tax (NPAT) at a constant currency.

CSL’s share price performance on the ASX:

CSL shares have performed well on the ASX in the past 12 months. The share price of the biotechnology firm has gained over 3% on the ASX within a year’s time. On the contrary, CSL’s YTD-based share price dipped slightly by 1.27% (as of 12:30 PM AEST on the ASX today, 19 July).

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.