Highlights
- Large healthcare shares on the ASX 200 rose sharply in October, far ahead of the broader market, led by Pro Medicus
[, with CSL and Cochlear also higher]- ResMed
[beat expectations on revenue and earnings, 4DMedical][slumped on no news before its annual meeting, and smaller names such as Neurizon][, Vitura Health][and Orthocell][made their own announcements]- Drug developers outside the ASX 200 had a harder month, and several of the large names are still below where they began the year
Healthcares big end of town has continued its recovery. Within the ASX Healthcare Stocks category, the ASX 200 healthcare group rose strongly in October, well ahead of the broader index, after a modest rise in September when the wider market fell. Market commentary reflects conditions at a point in time and can change quickly.
The Big Names Lead
Pro Medicus, the imaging software group, surged during the month, though it remains lower over the past year. CSL
, the plasma and vaccine group and a member of the ASX 20, and Cochlear
, the hearing implant maker, both rose by a similar amount. CSL is now ahead of where it stood a year ago, while Cochlear has still lost about half its value over...