How are these ASX healthcare shares performing?

Highlights: 

• Healthcare can be recognised as the efforts made towards restoring or maintaining an individual’s normal physical, mental, and emotional state by licensed professionals.
• The Australian government claims to offer one of the best healthcare systems in the world, ensuring good-quality and safe healthcare for its citizens.

Healthcare represents the provision of medical care given to an individual or a community in an organised manner. It is the effort by licensed professionals to help maintain or restore the normal physical, mental, and emotional state of an individual.

The Australian government claims to offer one of the best healthcare systems in the world, offering good-quality, safe, and affordable healthcare provisions to its citizens.  

In this article, we feature three ASX-listed healthcare companies and their performance on the ASX today: CSL Limited (ASX:CSL), ResMed Inc (ASX:RMD), and PolyNovo Limited (ASX:PNV).

CSL Limited (ASX:CSL) 

Shares of the healthcare giant CSL Limited (ASX:CSL) were spotted trading on a positive note on the ASX on Wednesday (2 November) afternoon. Its share price gained marginally by 0.084% to AU$283.500 per share on the ASX at 1:03 PM AEDT today.

CSL Limited is an ASX-listed manufacturer of pharmaceutical and diagnostic products, with a market capitalisation of AU$136.59 billion.

CSL today announced that its subsidiary, CSL Seqirus, has struck a collaboration and license agreement with Arcturus Therapeutics Holdings Inc. This agreement will allow CSL’s subsidiary to get access to Arcturus’ late-stage self-amplifying mRNA vaccine platform technology. Moreover, Arcturus will also receive an upfront payment of US$200 million from CSL and become eligible for receiving further payments subject to the achievement of a few developments and commercial milestones.

Arcturus is a NASDAQ-listed healthcare company. It is currently engaged in the development of next-generation mRNA vaccines.

CSL’s share price has declined by 8.10% on the ASX in a year, and on a year-to-date (YTD) basis, the company’s share price has fallen over 4% on the ASX (as of 1:03 PM AEDT today).

ResMed Inc. (ASX:RMD) 

Image source: © Ipopba | Megapixl.com

Shares of ResMed Inc. (ASX:RMD) were buzzing in the green territory on the ASX during the afternoon trading hours today (2 November). Its share price appreciated marginally by 0.460%, to AU$34.920 per, share at 1:51 PM AEDT today.

ResMed is a US-based medical device manufacturer with a market capitalisation of AU$50.90 billion.

On 28 October 2022, ResMed announced the first quarterly results for FY23 (Q1 FY23) for the period that ended on 30 September 2022. The following are the key highlights of ResMed’s Q1 FY23 results:

• ResMed said that its revenue gained by 5% to AU$950.3 million during the September quarter, up by 9% on a constant currency basis.  
• The company’s gross margin increased by 90 bps to 56.9% in the given period compared with the previous corresponding period.
• ResMed’s non-GAAP gross margin gained by 40 bps to 57.6% in Q1 FY23.
• The company has also reported a gain of 5% in its operating income in the given period; also, its non-GAAP operating profit went up by 4% in Q1 FY23.  

The share price of ResMed has come down by 1.17% on the ASX in a year. Furthermore, on a YTD basis, the company’s share price has declined by 3.5% on the ASX (as of 1:51 PM AEDT today).

PolyNovo Limited (ASX:PNV) 

Image source: © Ipopba | Megapixl.com

Shares of PolyNovo Limited (ASX:PNV) were trading in the green territory on the ASX on Wednesday afternoon. The company’s share price gained by 2.205% on the ASX, to AU$2.085 per share, at 2:21 PM AEDT today (2 November).

PolyNovo is the producer of NovoSorb technology-powered medical devices used to cure burns, surgical wounds, and for negative-pressure wound therapy. The company is based in Melbourne and holds a market capitalisation of AU$1.34 billion.

On 6 October 2022, PolyNovo shared its first quarter sales report of FY23 on the ASX. Here are some of the key pointers of its Q1 FY23 results:

• PolyNovo reported a sale worth AU$12.5 million in Q1 FY23, up by 73.3% compared with the previous corresponding period, which recorded sales worth AU$7.2 million only.
• The company also added that its growth was accelerated in the US during the same quarter. As a result, it achieved a record quarter sales result worth AU$ 10.4 million in Q1 FY23, up by 71.3% compared with the previous corresponding period.

The share price of PolyNovo has appreciated by 12.30% on the ASX in a year. Moreover, on a YTD basis, the company’s share price has gained almost by 35% on the ASX (as of 2:21PM AEDT today).