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Date : 23/11/2021

Top 3 Healthcare Stocks To Buy In November 2021

3 Top Performing ASX Healthcare Stocks To Consider in November 2021

The healthcare sector is certainly one to consider for growth. Here in Australia, the ASX is home to some of the biggest healthcare stocks in the world such as CSL, Ramsay Healthcare, Sonic, etc. It’s a sector that will likely see increased funding once we are out of the pandemic so as to bolster capacity and capabilities.

Our List of ASX Healthcare Shares to Consider in October 2021

Fisher & Paykel Healthcare (ASX: FPH)

Fisher & Paykel is a New Zealand based firm that manufactures and sells medical respiratory products all over the world. The firm is an innovator in the industry as it extensively invests in research & development. FPH has a vision of coming out with new and improved products for medical applications that use the latest technology.

FPH is having a rather good beginning to FY21. Revenue for the first four months was $583M. It is up 74% of revenue from the company’s Hospital product group and 26% from its Homecare product group. In constant currency, revenue for the four months was 2% below pcp. This is expected as FPH saw very high demand due to the pandemic in 2020.

Over the short term, FPH expects Hospital sales to continue to be impacted by COVID-19-related hospital admissions. This is currently evidenced by North America where FPH is seeing an increase in demand in conjunction with localised COVID-19 surges.

As the pandemic continues to pose a threat in different parts of the world, FPH is likely to benefit. Fisher & Paykel is a market leader and is a top healthcare stock to consider.

FPH shares currently trade at $30.55 a share.

Sonic Healthcare (ASX: SHL)

Sonic Healthcare is an Australia-based healthcare company. Their main activities are – provision of medical diagnostic services and the provision of administrative services and facilities to medical practitioners. Its segments include Laboratory, Imaging and Other. The Laboratory segment provides pathology/clinical laboratory services in Australia, New Zealand, the United Kingdom, the United States of America, Germany, Switzerland, Belgium, and Ireland.

The imaging segment provides diagnostic imaging services in Australia. Other segments include medical centre operations (IPN), occupational health services and other minor operations.

Sonic Clinical Services (SCS) is the primary care division of the Company that offers a range of health services, including general practice (GP) clinics and after-hours GP services, occupational health services, remote health services and community and home nursing services.

For the first 4 months of FY21, Sonic has performed well. Base business revenues grew by 6% versus pcp. Base business performance in both the current period and prior year was augmented by substantial volumes of COVID-19 testing. Sonic’s base business has become increasingly resilient to impacts of pandemic waves and benefits from the essential nature of its services, as well as geographical and business diversification. The underlying growth drivers for healthcare services remain unchanged.

This positions Sonic to perform well and is thus a top quality healthcare stock to consider on the ASX. Sonic shares have been performing well and currently trade at $41.35 a share.

Ramsay Healthcare (ASX: RHC)

Ramsay Health Care is a global healthcare company. Its business segments are Australia, Europe, UK, and Asia. The company operates about 500 hospitals and day surgery facilities globally. Ramsay’s facilities cater for a range of healthcare needs from day surgery procedures to complex surgery, as well as psychiatric care and rehabilitation.

In Australia, the company operates approximately 72 hospitals and day surgery units. In the United Kingdom, the Company provides independent hospital services with a network of over 34 acute hospitals and day procedure centres providing a range of clinical specialities to private and self-insured patients, as well as to patients referred by the National Health Service.

The company also operates a diagnostic imaging service and provides neurological services through its neuro-rehabilitation facilities. Ramsay’s global network extends across four regions with over 500 locations to service over eight million patient visits worldwide.

The recovery play certainly covers Ramsay. The impacts of the pandemic has meant that Ramsay has postponed a lot of elective surgeries. With the pandemic easing, the number of surgeries is expected to go up. This will have a direct positive impact on Ramsay’s revenues. Given their scale of operations, it will also bring in a significant amount of cash flows.

Ramsay Healthcare is definitely one to consider as a healthcare stock. RHC shares currently trade at $68.23 a share.


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