Macquarie says CSL, Resmed most preferred among Australian healthcare firms

Monash IVF

05/03/2024 01:02

** Analysts at Macquarie choose Australian biopharmaceutical
giant CSL Ltd  CSL.AX  and smaller rival Resmed  RMD.AX  as
their top picks due to potential contributions from the new
pipeline of products and operational efficiencies 
    ** Says brokerage upbeat on Resmed due to valuation appeal
and improving operating margins 
    ** Says Cochlear Ltd  COH.AX  and Sonic Healthcare  SHL.AX 
among brokerage's least preferred stocks 
    ** Says COH valuations elevated based on expected growth;
potential earnings dilution due to the acquisition of Oticon
Medical
    ** "Margin contraction for CSL from 2H21 to 1H23 (lagged
impacts of lower plasma collection volumes), but with
improvement in more recent halves," - Macquarie 
    ** Shares in CSL rise marginally by 0.4%, while those in RMD
advance over 3% 
    ** CSL down 2.5% this year as of last close, vs a 1.91%
increase in the benchmark S&P/ASX 200 index  .AXJO 


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))