Polynovo Ltd (ASX: PNV) shares could be about to surge in 2020. The ASX 200 healthcare company boasts a market capitalisation of $1.71 billion at the moment, but I think it could grow to be the next CSL Limited (ASX: CSL).

Why the Polynovo share price is climbing higher

Concerns about COVID-19 smashed the S&P/ASX 200 Index (ASX: XJO) in late February and for most of March. The Polynovo share price was no different and slumped as low as $1.32 per share on 23 March.

Since then, the ASX 200 has rebounded and gone on a bullish run. Polynovo has followed suit – at the time of writing, the ASX healthcare share is up 96.21% in the space of just 6 weeks. Pretty impressive, even for an Aussie growth share.

But I think that this 96.21% gain could be just the beginning. Polynovo has a strong research and development (R&D) pipeline and is continuing to bring more products to market. I can’t see demand for medical technology and Polynovo’s flagship NovoSorb product subsiding any time soon.

In fact, I think Polynovo could follow in CSL’s footsteps to become the next large-cap ASX healthcare share.

Will Polynovo be the next ASX healthcare leader?

CSL remains the gold standard in terms of ASX healthcare shares. The biotech giant is worth a whopping $137 billion right now and is up more than 40,000% since its IPO.

Polynovo could be on a similar path if things continue going well. The medical group reported record US quarterly sales for the March quarter and this COVID-19 volatility looks to be a minor speed bump.

The technical environment remains good for the company in 2020. In fact, the Polynovo share price is up more than 3,000% in just 5 years and could be one to watch in the years to come.

Foolish takeaway

It’s hard to pick value with all the noise in the markets right now. However, Polynovo looks to be a high-quality growth share with solid R&D prospects. That could make Polynovo a top ASX healthcare share to buy despite the economic uncertainty we’re seeing today.

More reading

• Where to invest $10,000 in ASX 200 shares immediately
• 3 must-read investing books for new investors
• Leading brokers name 3 ASX shares to sell today
• Is ‘buy-and-hold’ the best way to invest in ASX shares?
• ASX 200 sinks 1.3%: Big four banks drag ASX lower & Altium issues sales warning

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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If you’re lucky enough to have $10,000 sitting in a savings account, then now could be an opportune time to invest it.

After all, the S&P/ASX 200 Index (ASX: XJO) is still down 25% from its February high and interest rates are at historical lows and unlikely to improve any time soon.

With that in mind, here are three ASX 200 shares that I believe would be worth considering as investments:

Appen Ltd (ASX: APX)

Appen is a provider of human annotated dataset development services. The company’s million-strong crowd sourced team of experts prepare the data that goes into the machine learning and artificial intelligence models of some of the world’s biggest tech companies. Given the growing importance of this technology and expectations that spending on it will grow materially over the next decade, I believe Appen is well-placed for long term growth.

CSL Limited (ASX: CSL)

Another option for investors to consider buying is this biotherapeutics giant. I think CSL is well-placed to be a market beater again over the next decade thanks to the quality of its therapies and the high level of investment in research and development it makes each year. In respect to the latter, in FY 2019 CSL invested a massive US$832 million in R&D activities across its businesses. I expect these investments to bear fruit over the coming years and cement its position at the leader in its field.

NEXTDC Ltd (ASX: NXT)

Another company which I think could be a great option for a $10,000 investment is NEXTDC. The data centre operator has been growing very strongly over the last few years thanks to the increasing amount of data being generated by both consumers and businesses. And with data consumption only going to increase in the future as more software moves to the cloud and 5G internet adoption grows, the future looks bright for NEXTDC.

More reading

• 2 ASX shares that could set you up for life
• Is this ASX healthcare share about to soar?
• 3 must-read investing books for new investors
• Leading brokers name 3 ASX shares to sell today
• Is ‘buy-and-hold’ the best way to invest in ASX shares?

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Where to invest $10,000 in ASX 200 shares immediately appeared first on Motley Fool Australia.

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