AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
ASX-listed healthcare stocks have gained after the budget presentation.
The stocks received a significant boost from extra spending on Medicare announced in the budget.
The Australian Federal Budget was tabled on 29 March 2022.
ASX-listed healthcare stocks have remained in focus ever since Treasurer Josh Frydenberg announced that Australia’s health budget would top AU$132 billion in FY23. The figure was up from AU$62 billion a decade ago.
So, healthcare stocks received a significant boost from extra spending on Medicare announced in the budget on Tuesday. Since the healthcare sector is one of the largest employers in Australia, investors would be carefully charting out their future strategies keeping budget allocation in mind.
The Australian Federal Budget was tabled on 29 March 2022.
On this note, let’s discuss how these two ASX-listed healthcare stocks have done after the presentation of the federal budget:
Regis Healthcare Ltd (ASX:REG)
The Australian government has already implemented the first year of the five-year aged care reform program in response to the Royal Commission into Aged Care. In the latest budget, the government further invested AU$20.1 million in reforms. The government’s total investment rose to AU$129.9 billion in next four years.
The stock of the Australian aged care operator has risen nearly 3% in the past two days. The stock is up nearly 15% on a year-to-date (YTD) basis.
<iframe width="853" height="480" src="https://www.youtube.com/embed/Wkd3H9y2H44" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
CSL Ltd (ASX:CSL)
The budget has proposed an additional investment of over AU$900 million for COVID-19 prevention. It also talked about bringing the production of revolutionary mRNA vaccine technology to Australia. The new investment takes the total expenditure on COVID-19 vaccines to over AU$17 billion since the start of the COVID-19 pandemic.
The stock of the biotech firm has risen over 3% in the past two days. The stock has fallen over 8% on a year-to-date (YTD) basis.
RELATED ARTICLE: Altech Chemicals in box seat to cash in on soaring EV demand as fuel prices heat up
RELATED ARTICLE: FPH, WTC & SUN: How much dividend these ASX blue chips are paying?
RELATED ARTICLE: From CXO to WSA: Lithium & green metal stocks that are in spotlight
