How are these three ASX-listed healthcare shares faring today?

Highlights: 

• Australia’s highly comprehensive healthcare system consists of two broad categories, the public and the private healthcare system. 
• The public healthcare system is called Medicare, and it offers free healthcare services to all permanent residents of Australia. 
• The private healthcare system is owned by private institutions offering top-notch healthcare infrastructure in the country. 

The Australian healthcare system can be classified into two categories. One of them is Medicare, also known as the universal healthcare system of Australia. It entitles every permanent resident of the country to free healthcare services at public healthcare institutions. Apart from that, Australia also has a private healthcare system that is managed by private healthcare institutions. 

The Australian healthcare system is one of the top-ranking systems globally due to its ability to offer healthcare services for basic to most chronic diseases in the world. 

In this article, we discuss three ASX-listed healthcare stocks and their performance on the ASX: PolyNovo Limited (ASX:PNV), Telix Pharmaceuticals Limited (ASX:TLX), and Fisher & Paykel Healthcare Corporation Limited (ASX:FPH). 

PolyNovo Limited (ASX:PNV) 

Shares of PolyNovo Limited opened Monday’s trading session on a positive note on the ASX. The company’s shares were spotted trading 1.960% higher, at AU$2.080 per share, at 10:18 AM AEDT today. 

PolyNovo is an Australian medical device developer providing dermal regeneration solutions to treat patients suffering from burns, surgical wounds, and negative pressure wounds.  

PolyNovo today (7 November) announced that it is about to enter the Indian healthcare market soon. On 9 November 2022, the Annual Association of Plastic Surgeons of India (APSICON) is likely to coincide with the launch of PolyNovo in India. India is among the countries with the highest numbers of burn, trauma, and diabetes cases, according to PolyNovo; therefore,  this country is of great interest to the company.

PolyNovo said that around 1,800 Indian and international aesthetic and plastic surgeons would be attending the conference on 9 November 2022.

In the last 12 months, PolyNovo’s share price has appreciated by more than 29% on the ASX and on a year-to-date (YTD) basis, the company’s share price has gained over 32% on the ASX (as of 10:18 AM AEDT today). 

Telix Pharmaceuticals Limited (ASX:TLX) 

Image source: © Pattanaphongphoto | Megapixl.com

Shares of Telix Pharmaceuticals Limited were buzzing in the green territory on the ASX during the morning trading session on Monday. The company’s share price went up by 1.157% to AU$6.990 per share at 10:33 AM AEDT today. 

Telix is a Melbourne-based developer of molecularly targeted radiation products used in the treatment of cancer.  

Today Telix announced that it had received positive top-line results from its recent pivotal Phase III ZIRCON study (Zirconium in Renal Cancer Oncology).

Telix said that the study had fulfilled its coprimary and secondary endpoints.

Telix has decided to file for a biologics licence application for regulatory approval with the FDA and other global regulatory agencies based on the positive results obtained from the recent study.

In the last 12 months, Telix’s share price has increased marginally by 0.72% on the ASX. However, on a YTD basis, the company’s share price has fallen over 15% (as of 10:42 AM AEDT today).

Fisher & Paykel Healthcare Corporation Limited (ASX:FPH) 

Image source: © Ipopba | Megapixl.com

Shares of Fisher & Paykel Healthcare Corporation Limited were spotted trading on a negative note on the ASX on Monday morning. The company’s share price fell by 0.331% to AU$18.04 per share at 10:51 AM AEDT today.

A company with a market capitalisation of AU$10.45 billion, Fisher & Paykel is a manufacturer of medical devices used for treating acute respiratory diseases.

Recently, Fisher & Paykel announced that it had signed an agreement to acquire a 105 ha site in Karaka, Auckland, for AU$275 million.

However, the acquisition is subject to approval from the Overseas Investment Office. The company intends to develop another New Zealand-based campus at Karaka.

Fisher & Paykel also mentioned that the development of the new campus would take over 20 to 30 years, and its earthworks and core infrastructure development will be done in the next five years.

In the last 12 months, Fisher & Paykel’s share price has fallen over 40% on the ASX, and on a YTD basis, the company’s share price has come down by almost 42% on the ASX (as of 10:51 AM AEDT today).

Meanwhile, the S&P/ASX 200 Health Care sector (INDEXASX:XHJ) was quoted at 40,068.3 points, down by 0.379% or 152.5 points, on the ASX at 11:40 AM AEDT today (7 November 2022).