If you’re looking for exposure to the healthcare sector, then you may want to consider the two ASX shares listed below.
These ASX healthcare shares have recently been named among the best shares to buy this month by the team at Morgans. Here’s why the broker is bullish on these ASX shares:
Cochlear Limited (ASX: COH)
The first ASX healthcare share that Morgans is a fan of is this hearing solutions company. The broker likes Cochlear due to its leadership position in implantable hearing solutions and the improving outlook for demand. Morgans believes the latter is pointing to an improving earnings profile.
The broker explained: “Cochlear maintains a dominant position in the implantable hearing solutions segment. While we continue to believe a full recovery from Covid-based disruptions still has time to play out, improving demand and strong pipeline, coupled with management’s increasing confidence, is all suggestive of an improving earnings profile.”
Morgans has an add rating and $233.20 price target on the company’s shares.
ResMed Inc (ASX: RMD)
Another ASX healthcare share that the team at Morgans rates as a buy this month is sleep treatment focused medical device company, ResMed. Its analysts rate ResMed highly due to its very positive long term outlook, which is being underpinned by the company’s digital platform.
Its analysts commented: “While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”
Morgans currently has an add rating and $40.46 price target on ResMed’s shares.
The post 2 of the best ASX healthcare shares to buy now according to analysts appeared first on The Motley Fool Australia.
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More reading
- 3 more of Morgans’ best ASX share ideas for March
- You can’t pick the bottom, but these 4 ASX shares are already bargains: expert
- Why does this broker say to sell Cochlear (ASX:COH) shares in 2022?
- 2 ASX healthcare shares analysts rate as buys
- Analysts name 3 ASX 200 shares with potential upside of 20%+
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Cochlear Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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