Which are the five biggest healthcare players on the ASX?

Summary

  • The healthcare sector has been in focus since the emergence of COVID-19 and the developments to curb the spread of the pandemic.
  • The sector is likely to remain in the spotlight in the future as more and more people start taking their health seriously.
  • CSL, ResMed, Sonic Healthcare, Fisher & Paykel and Cochlear are the biggest healthcare players listed on the ASX based on market capitalisation.

Since the onset of the deadly COVID-19 pandemic, the healthcare and technology sectors have garnered the maximum attention. The healthcare sector includes companies engaged in manufacturing medical products, including drugs and medical devices, and firms that provide medical services, like health insurance service providers or hospital administration. 

                       

Top 5 Healthcare Stocks on the ASX

 

Australia boasts many well-established healthcare and biotech companies that provide good returns to its investors and offer consistent dividends. Besides, the biggest ASX-listed healthcare companies have a notable impact on the country’s economy.

INTERESTING READ: Australia making strides in the adoption of AI in healthcare

Here are the five biggest ASX-healthcare players based on market capitalisation-

CSL Limited (ASX:CSL)

CSL Limited is the biggest healthcare player in Australia and a prominent global biotech business. The Company is engaged in the development of innovative biotherapies and influenza vaccines for individuals suffering from life-threatening medical conditions.

CSL has been in the news primarily because of its role in the fight against the pandemic. Earlier this year, the Company had signed a vaccine manufacturing deal with UK-based AstraZeneca Plc (LON:AZN). The biotech giant is also evaluating a monoclonal antibody, garadacimab being evaluated for acute respiratory distress syndrome (ARDS) treatment, and a plasma-derived hyperimmune globulin therapy (CoVIg-19) in partnership with Takeda to treat severe COVID-19 complications.

CSL also finalised a commercialisation and licence deal with uniQure in May for the gene therapy, or etranacogene dezaparvovec (AMT-061), for hemophilia B treatment.

The Company paid its interim dividend of AU$1.349 on 1 April 2021.

ALSO READ: Five ASX stocks worth a watch during the crucial earnings season

Copyright © 2021 Kalkine Media

ResMed Inc (ASX:RMD)

ResMed is engaged in providing innovative solutions for the treatment of people and to them out of the hospital and empowering them to live healthier lives. On 6 August 2021, the Company announced results for Q4 FY2021.

The Company reported a 14% growth in year-over-year revenue, an 8% increase in operating profit and a 7% increase in non-GAAP operating profit. Besides, ResMed notified that revenue in the US, Canada, and Latin America market excluding Software as a Service (SaaS), grew by 18%, driven by increased demand for sleep devices and masks.

The Company increased its dividend by 8% to US$0.42 per share.

Sonic Healthcare Limited (ASX:SHL)

An Australian healthcare player Sonic Healthcare Limited is that provides laboratory services, pathology, and radiology services. In June 2021, Sonic Healthcare entered in an agreement to acquire (100%) Canberra Imaging Group (CIG). The CIG acquisition is a significant step in the development of the imaging division of Sonic Healthcare in Australia. Furthermore, the acquisition will help the Company broaden its footprint, deepen its talent pool, and offer a potential opportunity for synergy benefits.

Copyright © 2021 Kalkine Media

Dr Colin Goldschmidt, CEO of Sonic Healthcare, commented-

Fisher & Paykel Healthcare Corporation Ltd (ASX:FPH)

Dual-listed healthcare player Fisher & Paykel Healthcare is engaged in manufacturing and marketing products used in respiratory care and the treatment of obstructive sleep apnea (OSA). The AU$18.12 billion Company paid its final dividend amount of AU$0.204 on 7 July 2021.

Interestingly, the respiratory products and therapies of Fisher & Paykel have played a significant role during the COVID-19 pandemic. The OptiflowTM nasal high flow therapy has emerged as one of the leading frontline therapies for COVID-19 patients. Furthermore, the Company’s humidification devices are used in hospitals for patients who require mechanical ventilation.

Notably, the Company continued to supply products helping patients with OSA or requiring respiratory support in their homes during the pandemic.

ALSO READ: Looking for healthcare dividend stocks? Here are the top five players

Cochlear Limited (ASX:COH)

ASX-listed AU$16.61 billion medical device company Cochlear Limited is engaged in designing, manufacturing, and supplying the Nucleus cochlear implant, the Hybrid electro-acoustic implant, and the Baha bone conduction implant. In February 2021, the Company obtained the Food and Drug Administration’s (FDA) approval and CE Mark for its Cochlear™ Baha® 6 Max Sound Processor.

Source: © Elsahoffmann | Megapixl.com

Last month, the Company notified that it would release its financial results for FY21 on 20 August 2021.

ALSO READ: A glance at three fast-growing healthcare stocks in Australia

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