Healthcare shares are underperforming today, down 0.33%, while the benchmark S&P/ASX 200 Index (ASX: XJO) is 0.15% lower.
Healthcare led the 11 market sectors last week with a 4.84% rise compared to a 0.28% lift for the ASX 200.
The sector has been a poor performer over the past 12 months, down 39% overall amid many industry challenges.
These include US currency headwinds; three interest rate rises in Australia; cost of living pressures leading people to delay procedures; higher shipping costs; new limits on insurance payouts in some nations; higher wage costs; and regulatory uncertainty in the US.
However, things may be changing.
On 3 June, the S&P/ASX 200 Health Care Index (ASX: XHJ) touched a 9-year low of 21,947.2 points.
Since then, ASX 200 healthcare shares have lifted 12.8% while the broader ASX 200 has managed only a 0.37% gain.
This may signal that a sector rebound has begun.
Despite these green shoots, experts maintain sell ratings on several ASX 200 healthcare shares, as showcased on The Bull this week.
Let’s hear them out.
CSL Ltd (ASX: CSL)
The CSL share price is $114.30, down 1.6% today and down 52% over 12 months.
Niv Dagan from Peak Asset Management has a sell rating on the market’s largest ASX 200 healthcare share.
The expert commented:
A sell rating is justified as this biotechnology giant has materially downgraded its fiscal year 2026 outlook while announcing about $5 billion of additional non-cash pre-tax impairments across fiscal years 2026 and 2027.
Revenue expectations have been reduced due to US immunoglobulin channel normalisation and weaker albumin prices in China.
The CSL Vifor acquisition has under-performed. Also, government healthcare cost pressures and a higher interest rate environment present ongoing challenges for the biotechnology sector, further weighing on sentiment.
Cochlear Ltd (ASX: COH)
The Cochlear share price is $117.55, down 0.5% today and down 60% over 12 months.
Dagan also has a sell rating on this ASX 200 healthcare share.
He explained:
In April, the hearing implants maker materially reduced its fiscal year 2026 underlying net profit guidance to between $290 million and $330 million from between $435 million from $460 million in February.
The downgrade was a response to weaker than expected demand in developed markets amid Middle East uncertainty, lower margins and foreign exchange headwinds.
Hospital capacity constraints amid softer consumer sentiment and reduced referral activity are weighing on implant volumes, while cost base restructuring is likely to impact earnings in the near term.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is steady on Monday at 71 cents.
This ASX 200 healthcare share has defied sector trends to rise 12.7% over 12 months.
But it’s been a bumpy road, as the chart below shows, and Christopher Watt from Bell Potter gives the stock a sell rating.
Watt said:
The fertility services company recently downgraded fiscal year 2026 guidance. It now expects underlying net profit after tax to range between $17 million and $18 million.
Across the Australian market, stimulated cycle volumes were down 4.7 per cent on a rolling three month basis to the end of April when compared to the prior corresponding period.
Cost-of-living pressures and declining birth rates are structural headwinds for the whole industry.
New leadership has a genuine reset opportunity, but until there’s evidence of an industry-wide recovery, I remain cautious.
The post 3 ASX healthcare shares to sell despite signs of sector rebound appeared first on The Motley Fool Australia.
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More reading
- Buy, hold, sell: Life360, Woodside, CSL shares
- Why CSL, Westpac, and this big-name ASX 200 share could be sells
- Here’s where I would invest $5,000 in ASX shares
- Buy, hold, sell: CSL, Steadfast, and Wesfarmers shares
- How to know when a beaten-down ASX share is worth buying
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 CSL and Cochlear. The Motley Fool Australia has recommended CSL and Cochlear. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.