The Best ASX Healthcare Stocks
to buy Now In
March 2024

Check out our Industry Experts’ report and
analysis on the Best healthcare Stocks right now in ASX

The Best ASX Healthcare Stocks
to buy Now In
March 2024

Check out our Industry Experts’ report and analysis on the Best healthcare Stocks right now in ASX

Pathway to Investment in ASX Healthcare Stocks

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Before investing in these ASX healthcare stocks, or stocks in any other sector for that matter, investors should examine a company's earnings, revenue, and its market cap, capitalisation, cap and its market capitalisation first. Companies like Pro Medicus and CSL (among others companies) have managed to maintain steady earnings. Analysing the company's share price and valuation is crucial.

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A company's business success in other industries as the healthcare sector is often tied to its ability to develop and sell innovative healthcare products, treatments, and services that meet market demand. Clinical trials for new treatments are a good indicator of ASX healthcare stocks' future profit potential - if of course the clinical trials themselves are successful and regulators approve.                

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Investors should assess their risk tolerance before investing in healthcare companies and stocks. Although healthcare companies and stocks are generally considered defensive, investing the sector can still be affected by factors such as regulatory changes and advancements in technology. An individual's investment decision should be based on their financial goals, risk tolerance, and timeline.

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A Deep Dive into Top ASX Healthcare Stocks

The healthcare sector industry in Australia has been a significant growth area for companies in the Australian Securities Exchange (ASX) for years. Despite the volatility index of health care sector in the world of markets, the ASX healthcare sector index has shown defensive qualities due to consistent market demand for healthcare services, supplies pathology services and products. This article focuses on the three leading healthcare stocks on ASX: Pro Medicus, Telix Pharmaceuticals, and ResMed.ds

Emerging Trends in the ASX Healthcare Stocks

Rapid Technological Advancements:
The ASX healthcare sector has been a hotbed of innovation, notably in health science, health care equipment and the services industry. For the services industry, for instance, Pro Medicus is pioneering the adoption of artificial intelligence in radiology and communications. As the world becomes more reliant on science and technology, the healthcare and life sciences sector stands to benefit significantly from these advancements, presenting new business opportunities for investors.

The Rise of Telehealth and Remote Patient Monitoring:
Telehealth and remote patient monitoring have gained increased popularity in the face of a global pandemic. Pro Medicus, a leading player in the ASX healthcare sector index, is capitalizing on this trend with support and pathology services from their VISAGE imaging system that enables doctors to diagnose and treat patients remotely. The healthcare sector is expected to grow exponentially in the coming years asx 200 health care more, making healthcare stocks a viable investment decision.

Our Top 3 ASX Healthcare Stocks

Pro Medicus Ltd (ASX: PME)

Pro Medicus is arguably the top ASX 200 healthcare stock. It is a leading provider of radiology software, having gone strength to strength with and selling its Visage software since picking it up in the aftermath of the GFC. The company reported an impressive net profit of $44.4m in FY22 off the back of $93.5m in revenue. It was a very successful year due to a series of new contract wins with US healthcare and life sciences and other providers of life sciences.

Telix Pharmaceuticals Ltd (ASX: TLX)

Telix Pharmaceuticals wouldn't have been on the list of top ASX healthcare stocks a few years ago. It only listed in 2017 and the company has aimed to bring its prostate cancer imaging product Illuccix in the USA market. This goal was achieved last year and sales have taken off. Telix's share price has steadily increased due to its success, something it has worked hard to achieve and that not all other health care equipment companies are able to achieve.

CSL (ASX: CSL)

Yes this is an easy choice and one that some investors may be doubting in the aftermath of a recent profit downgrade, but hear us out here. They are a global leader in the health care sector. CSL has two primary businesses: flu vaccines and blood products development – for influenza vaccines. In FY23, CSL is expecting a post-tax profit of US$2.8bn on an underlying basis and net profit of US$2.55bn in a statutory basis.

Our Top 3 ASX Healthcare Stocks

Pro Medicus Ltd (ASX: PME)

Pro Medicus is arguably the top ASX 200 healthcare stock. It is a leading provider of radiology software, having gone strength to strength with and selling its Visage software since picking it up in the aftermath of the GFC. The company reported an impressive net profit of $44.4m in FY22 off the back of $93.5m in revenue. It was a very successful year due to a series of new contract wins with US healthcare and life sciences and other providers of life sciences.

Telix Pharmaceuticals Ltd (ASX: TLX)

Telix Pharmaceuticals wouldn't have been on the list of top ASX healthcare stocks a few years ago. It only listed in 2017 and the company has aimed to bring its prostate cancer imaging product Illuccix in the USA market. This goal was achieved last year and sales have taken off. Telix's share price has steadily increased due to its success, something it has worked hard to achieve and that not all other health care equipment companies are able to achieve.

CSL (ASX: CSL)

Yes this is an easy choice and one that some investors may be doubting in the aftermath of a recent profit downgrade, but hear us out here. They are a global leader in the health care sector. CSL has two primary businesses: flu vaccines and blood products development – for influenza vaccines. In FY23, CSL is expecting a post-tax profit of US$2.8bn on an underlying basis and net profit of US$2.55bn in a statutory basis.

Frequently Asked Questions

The iShares Global Healthcare ETF provides exposure to a range of global healthcare stocks, including those listed on ASX. It aims to track the performance of the S&P Global 1200 Healthcare Sector Index.

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