Telix Pharmaceuticals Ltd (ASX: TLX) and Ramsay Health Care Ltd (ASX: RHC) are two ASX healthcare powerhouse stocks with an entirely different core business.

Telix is a commercial-stage biopharmaceutical company which is focused on the ongoing development of diagnostic and therapeutic products using targeted radiation. This process treats cancerous or diseased cells without attacking healthy tissue at the same time, like many traditional cancer medicines.

Meanwhile, Ramsay is a large global private healthcare provider which has over 500 facilities across 11 countries. It operates private hospitals, day surgeries, primary care clinics, diagnostic and imaging centres, mental health facilities, pharmacies, and some in-home and community care services.

What the two businesses do have in common is that they both generate a significant portion of their revenues outside Australia, they’re both reliant on regulatory approvals, and they’ve both outperformed the S&P/ASX 200 Index (ASX: XJO) and the S&P/ASX 200 Health Care Index (ASX: XHJ) over the past 12 months.

And this is particularly significant given the amount of headwinds and volatility the ASX healthcare sector experienced through late-2025 and into 2026.

While many shares suffered from intense volatility driven, an unstable inflation, and a general investor rotation away from the healthcare sector, both Telix and Ramsay shares bucked the trend.

But which stock has made investors richer so far in 2026? And which has the strongest upside ahead?

Let’s take a look.

Telix vs Ramsay: Which ASX healthcare stock has climbed higher in 2026?

At the close of the ASX on Tuesday afternoon, Telix shares had climbed another 7% to $16.79 a piece. That brings the company’s year-to-date increase to an impressive 48%.

But it hasn’t been smooth sailing for Telix shares this year. After tumbling to a three-year low of $8.63 in mid-February, the share price started rebounding in peaks and troughs. Telix shares have fluctuated anywhere between $8.63 and $17.85 this year.

Meanwhile, Ramsay shares closed the day in the red, down slightly by around 0.2% to $55.50. But the share price trajectory is quite different. Despite the dip, the shares are now up an impressive 60% for the year-to-date.

Ramsay shares started climbing higher in late-2025 and continued increasing through to early-2026. The rally has been pretty steady and consistent up to a two-year high of $55.61 recorded on Monday.

The verdict: Ramsay shares have made investors richer in 2026 so far.

What do brokers tip next for Telix shares?

The experts are still incredibly bullish on Telix shares over the next 12 months. TradingView data shows the majority (13 out of 15) have a buy/strong buy rating on the ASX healthcare stock. 

The $25.63 average target price implies an upside of around 53% at the time of writing. 

But some are even more optimistic and tip the stock to jump up to 88% higher to $31.53 over the next 12 months.

What do brokers tip next for Ramsay shares?

While Ramsay shares may be the winner in terms of which of the two shares have made investors richer for the year-to-date, its 12-month outlook isn’t as positive as Telix.

In fact, analyst forecasts suggest that the ASX healthcare stock could now be trading above fair value.

TradingView data shows the majority (12 out of 17) have a hold rating on Ramsay shares. And the $51.36 average target price now implies around a 7% downside, at the time of writing.

The post Telix Pharmaceuticals vs Ramsay Healthcare: Which ASX healthcare stock made investors richer in 2026? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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 Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Tabcorp Holdings Ltd (ASX: TAH) shares have been almost totally flat over the past 12 months, but the analysts at RBC Capital Markets are predicting that could be about to change.

RBC has issued a new research note on the gambling company, initiating coverage with an outperform rating and a bullish share price target which I’ll get to shortly.

First let’s have a look at how Tabcorp fared over the 2026 financial year.

Earnings up on flat revenue

Tabcorp in August reported revenue of $2.64 billion, up 0.8%, and EBITDA of $431.7 million, up 10.3%.

The company paid total dividends of 3 cents per share, up 50%.

Managing Director Gillon McLachlan said of the result:

Midway through our turnaround journey, we’re executing on the plan, continuing to exercise cost and capital discipline and the Company is delivering earnings growth. The new retail commercial model has been implemented, the National Tote will launch soon, TAB LIVE and our new Next-Gen terminals are being rolled out in pubs and clubs in approved States, and we’ve renewed key domestic and global media rights partnerships.

Mr McLachlan said the first two stages of the transformation plan, “were to get fit and operationalise our game plan”.

He said that had been achieved, and the company’s proposed acquisition of Betmakers, announced after the end of the financial year, would accelerate the strategy, allowing the company to release products faster and more cheaply.

Tabcorp shares looking like a good punt

RBC said in its research note that Tabcorp had strong forecast earnings growth, stable market share and a sound balance sheet.

They added:

Tabcorp has leading positions in the Australian wagering, media and integrity services markets with wagering and gaming machine monitoring licences in key states. While the wagering market is mature and very competitive, Tabcorp’s market share has stabilised and Tabcorp has returned to earnings growth.

RBC said the proposed Betmakers deal was a positive as it would help modernise Tabcorp’s technology stack, “and be earnings per share accretive if the company can deliver upon the targeted $30 million in cost synergies”.

RBC is yet to factor the acquisition into its financial modelling however, as it believes there are still some risks to completion.

RBC has also factored in an expected cost from AUSTRAC action against Tabcorp.

RBC said:

While this is likely to remain an overhang on the share price, we believe any resolution is likely to be long-dated based on recent precedents. Tabcorp is focussing on improving its risk and compliance controls and governance and it has made some key appointments as part of the uplift. We have allowed for a $100m penalty in our valuation, equivalent to 4.4cents per share.

RBC has valued Tabcorp at $1.25 per share compared to the current share price of 96.25 cents.

Tabcorp is valued at $2.07 billion.

The post RBC Capital Markets thinks Tabcorp shares could go how high? appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ANZ Group Holdings Ltd (ASX: ANZ) shares have long been a popular dividend pick. As one of the major ASX bank shares, the company benefits from significant scale and can deliver a strong dividend yield, supporting high passive income.

Banks usually trade on a relatively low price/earnings (P/E) ratio and have relatively high dividend payout ratios compared to other sectors, which is why they can deliver a solid dividend.

Of course, dividends are not guaranteed, so don’t take any projections as certain. The payout could be lower, or higher, than expected. Let’s take a look at what is projected of the ASX bank share and what that could mean for receiving $9,000 of annual passive income.

Dividend projection

ANZ has been very consistent with its half-year dividend – ever since mid-2024 it has paid 83 cents per share every six months. That means its last 12 months of dividends come to $1.66 per share.

According to the projection on Commsec, the ASX bank share is projected to pay an annual dividend per share of $1.66 in FY26, the same as FY25 and FY24.

Looking further ahead to FY27, the annual dividend per share is also expected to be $1.66 again. On the one hand, that’s pleasing stability. On the other hand, a flat dividend means inflation is eating away at the value of the dividend.

What would it take to generate $9,000 of passive income?

I’m sure many investors would like to receive $9,000 in annual passive income, whether from ANZ shares or another option. But this article focuses on ANZ shares.

As mentioned above, the ASX bank share is projected to pay an annual dividend of $1.66 per ANZ share, so to generate $9,000 of annual passive income, it would take 5,422 ANZ shares.

But, the above number doesn’t take into account franking credits, which arguably should be included as it’s part of the income package from Australian companies.

If franking credits are included, an investor would need only 4,104 ANZ shares to generate $9,000 in annual grossed-up dividend income.

Is this a good time to invest in ANZ shares?

Analysts don’t think the valuation is particularly appealing right now. There have been eight ratings on the business within the last three months, with the average price target being $35.39.

That price target implies the experts collectively think, at the time of writing, that the ANZ share price will fall 7% over the next year.

It looks like there are better ideas to buy out there.

The post How many ANZ shares do I need to buy for $9,000 of passive income? appeared first on The Motley Fool Australia.

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• Westpac, ANZ, NAB or CBA shares? Which ASX bank stock should I buy for $5,000 a year in passive income?
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.