Although the S&P/ASX 200 Index (ASX: XJO) edged higher in FY 2026, it was a bruising year for a number of former market favourites.

For example, three ASX shares that fell 50% or more during the last financial year are named below. Here’s why they were sold off:

Cochlear Ltd (ASX: COH)

Cochlear shares were hammered in FY 2026, falling around 60% over the 12 months.

The biggest blow arguably came in April, when the hearing implant leader cut its earnings guidance.

Cochlear said trading conditions for cochlear implants in developed markets had been softer than expected since January. Management pointed to hospital capacity constraints, reduced referral activity from the hearing aid channel, weaker consumer sentiment in key markets, and uncertainty from the Middle East conflict.

That was a damaging update because Cochlear has long been viewed as a high-quality healthcare compounder. Investors had been prepared to pay a premium for reliability, market leadership, and long-term growth in hearing implants.

When the company reduced its underlying net profit guidance to between $290 million and $330 million, that premium was quickly reassessed.

CSL Ltd (ASX: CSL)

CSL was another healthcare giant that had a dreadful FY 2026, with its shares crashing around 50%.

The biotechnology company suffered from a painful reset in expectations. In October, CSL downgraded its outlook after weaker US flu vaccination rates hurt its Seqirus vaccines business. It also delayed the planned spin-off of Seqirus, which had been expected to help simplify the company.

The pressure continued in February when the company reported a weak half-year result and announced the sudden exit of chief executive Paul McKenzie.

Then in May, CSL cut its FY 2026 guidance again following a review by interim CEO Gordon Naylor. It pointed to issues including US immunoglobulin inventory normalisation, lower albumin market value in China, slower growth from HEMGENIX, competition in iron products, and additional asset impairments.

CSL also faced tariff uncertainty during the year, although the company later indicated that most of its US product sales were not expected to be subject to the new tariffs.

WiseTech Global Ltd (ASX: WTC)

WiseTech Global shares had an even rougher FY 2026, falling around 70% over the period.

The logistics software company continued its growth, but the market became increasingly uncomfortable with governance uncertainty, concerns over its transition to a new pricing and sales model, and questions about potential artificial intelligence disruption.

At the same time, WiseTech was dealing with a more demanding market for expensive technology shares. Investors were unwilling to pay a premium for ASX tech stocks and de-rated them to some of the lowest multiples that have been seen in years.

The post 3 ASX shares down at least 50% in FY26 appeared first on The Motley Fool Australia.

More reading

• Healthcare shares lead the ASX 200 again as sector rotation gathers pace
• How much do I need in superannuation to receive $5,500 per month in passive income?
• Down 70%, is now the time to finally buy WiseTech shares?
• Where I’d invest $20,000 into ASX 200 shares this month
• CSL shares are up 25%: is it time to buy, hold or sell?

Motley Fool contributor James Mickleboro has positions in CSL, Cochlear, and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Cochlear, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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.

It was a busy week for Australia’s top brokers. This has led to a number of broker notes being released.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Hub24 Ltd (ASX: HUB)

According to a note out of Bell Potter, its analysts have retained their buy rating and $110.00 price target on this investment platform provider’s shares. The broker highlights that despite early weakness, global equity markets recovered and posted outsized returns for the June quarter. In light of this, Bell Potter has upgraded its model to reflect strong positive mark-to-markets. Outside this, the broker believes that a heavy decline since its November peak, despite earnings upgrades and further positive adjustments yet to flow through, has created a buying opportunity for investors. The Hub24 share price ended the week at $81.04.

Northern Star Resources Ltd (ASX: NST)

A note out of Citi reveals that its analysts have retained their buy rating and $29.70 price target on this gold miner’s shares. The broker was pleased with Northern Star’s quarterly update, which revealed gold sales comfortably ahead of expectations during the fourth quarter. It notes that this helped take Northern Star’s gold sales beyond its revised guidance for FY 2026. As a result of this strong performance, Citi continues to see plenty of value in the company’s shares at current levels. The Northern Star share price was fetching $22.16 at Friday’s close.

ResMed Inc. (ASX: RMD)

Analysts at Morgans have retained their buy rating and $41.72 price target on this sleep disorder treatment company’s shares. According to the note, the broker highlights that ResMed’s shares have de-rated to just 16 times forward earnings. This is its lowest valuation in over a decade and comes despite the market continuing to forecast double-digit earnings per share growth. And while there are risks from GLP-1 therapies, an oral OSA therapy, and the potential re-entry of a key competitor next year, Morgans points out that current industry data and its operating performance provide limited evidence of a material deterioration in underlying demand. The ResMed share price ended the week at $30.50.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Healthcare shares lead the ASX 200 again as sector rotation gathers pace
• Buy, hold, sell: Objective Corp, ResMed, and South32 shares
• 9 ASX 200 shares with renewed buy ratings for FY27
• 10 of the best ASX shares to buy in FY 2027
• Here are the top 10 ASX 200 shares today

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX 200 healthcare shares led the 11 market sectors last week with a 5.64% gain over the five trading days.

The S&P/ASX 200 Index (ASX: XJO) lifted 0.92% in the final trading week of FY26. 

The ASX 200 finished the week at 8,844.4 points.

This is the second time in three weeks that ASX 200 healthcare shares have been out in front. 

A sector rotation appears underway as value investors swoop on blue-chip favourites like CSL Ltd (ASX: CSL) and Pro Medicus Ltd (ASX: PME). 

The healthcare sector appears to have turned on 3 June when the S&P/ASX 200 Health Care Index (ASX: XHJ) hit a 9-year low.

That represented a 39% decline over 12 months. You can read comprehensive analysis of why the healthcare sector struggled in FY26 here.

Since then, healthcare shares have increased 20% in just one month compared to an 0.7% rise for the ASX 200 overall. 

In a new note, top broker UBS said ASX 200 healthcare shares and US biotech stocks both rose strongly in June, commenting:

There was limited company specific news to explain this recovery, suggesting it was due to broader market forces including sector rotation.

Healthcare was the worst performer among the 11 market sectors in FY26. You can read more about the market’s winners and losers in FY26 here. 

Now, let’s review some individual stock performances from last week.

Healthcare shares led the ASX sectors last week

The CSL share price rose 6.05% to $121.81 last week, and it’s up 32% since 3 June. 

Pro Medicus shares jumped 11% to $209.65 on Friday, and are up 31% since 3 June. 

Resmed CDI (ASX: RMD) shares ascended 5.39% to $30.50 last week, and are 18% higher since 3 June. 

Sonic Healthcare Ltd (ASX: SHL) shares rose 4.06% to $21.25 last week, and are up 13.1% over the month. 

The Ramsay Health Care Ltd (ASX: RHC) share price lifted 2.46% to $44.16 last week, and is up 21% since 3 June. 

The Cochlear Ltd (ASX: COH) share price increased 5.87% to $124.96 last week, and is up 31% since 3 June. 

Telix Pharmaceuticals Ltd (ASX: TLX) shares ripped 10.11% to $16.88 on Friday, and are up 38% over the month.

Respiratory imaging technology company 4DMedical Ltd (ASX: 4DX) rose 2.16% to $4.25 per share on Friday. 

4DMedical shares are up 12% since 3 June. 

The ASX 200 healthcare share was the best performer of the entire ASX 200 in FY26 after skyrocketing 1,786%. 

ASX 200 market sector snapshot

Here’s how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

S&P/ASX 200 market sector	Change last week
Healthcare (ASX: XHJ)	5.64%
Information Technology (ASX: XIJ)	2.42%
Materials (ASX: XMJ)	2.08%
Financials (ASX: XFJ)	1.74%
Energy (ASX: XEJ)	0.74%
Communication (ASX: XTJ)	(0.91%)
Industrials (ASX: XNJ)	(1.04%)
Consumer Discretionary (ASX: XDJ)	(1.31%)
Consumer Staples (ASX: XSJ)	(1.68%)
A-REIT (ASX: XPJ)	(3.7%)
Utilities (ASX: XUJ)	(5.78%)

 

The post Healthcare shares lead the ASX 200 again as sector rotation gathers pace appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares down at least 50% in FY26
• Top brokers name 3 ASX shares to buy next week
• Buy, hold, sell: Objective Corp, ResMed, and South32 shares
• How much do I need in superannuation to receive $5,500 per month in passive income?
• 10 of the best ASX shares to buy in FY 2027

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, Cochlear, ResMed, and Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended CSL, Cochlear, Pro Medicus, Sonic Healthcare, and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.