In this article, we examine the best ASX 200 healthcare shares of FY24 based on share price growth.
Here are the best performers, according to data from S & P Global Market Intelligence.
The top 3 ASX 200 healthcare shares of FY24
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price was the No 1. stock of the entire S&P/ASX 200 Index (ASX: XJO) in FY24, not just the top riser among healthcare shares. Pro Medicus shares surged 118.3% in FY24.
As my colleague Bernd reports, the imaging company moved higher all year thanks to a record number of new contracts. Most recently in May, Pro Medicus announced five new contracts worth $45 million.
Pro Medicus CEO Sam Hupert said the pipeline for other contract opportunities “remains strong with a broad range of opportunities both in terms of size and market segments”. Investors are also excited about the company’s plans to leverage artificial intelligence to reduce costs and improve its products.
The Pro Medicus share price finished the session on Thursday at $129.41, down 5.12%.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The second top-performing ASX 200 healthcare share in terms of share price growth was Neuren Pharmaceuticals, up 73.6% in FY24.
The last piece of price-sensitive news from Neuren was the top-line results from the Phase 2 clinical trial of its second drug candidate, NNZ-2591. The drug treats Pitt Hopkins syndrome (PTHS), which is a neurodevelopmental condition that causes developmental delays in children. The top-line results showed a “statistically significant improvement” across all four efficacy measures.
In 2023, the company’s US marketing partner, Acadia Pharmaceuticals, reported the first full quarter of sales for Neuren’s first approved drug, Daybue, which treats Rett syndrome. Net sales totalled US$66.9 million.
The Neuren Pharmaceuticals share price closed at $19.97, up 0.35% on Thursday.
Telix Pharmaceuticals Ltd (ASX: TLX)
Rounding out the top three ASX 200 healthcare shares of FY24 is Telix Pharmaceuticals, up 66.2%. Telix shares began a steady northbound trajectory in November 2023.
Telix develops highly precise diagnostic and therapeutic products to treat cancer using targeted radiation. Its diagnostic imaging can precisely locate tumours and its therapeutics can deliver isotopes directly to the cancerous cells.
Telix shares surged in April after the company released its 1Q FY24 revenue and business update. Telix was upgraded to strong buy status last month.
The Telix Pharmaceuticals share price closed at $18.18 yesterday, down 0.76%.
The post Best 3 ASX 200 healthcare shares for price growth in FY24 appeared first on The Motley Fool Australia.
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More reading
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- 5 things to watch on the ASX 200 on Thursday
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus and Telix Pharmaceuticals. The Motley Fool Australia has recommended Pro Medicus and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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