Tag: Motley Fool

Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here’s why brokers think investors ought to buy them next week:

CSL Limited (ASX: CSL)

According to a note out of Citi, its analysts have retained their buy rating and $335.00 price target on this biotherapeutics company’s shares. Citi has been looking at what impact the Vifor Pharma will have on earnings. While it doesn’t expect the transaction to have a material impact on its near term earnings, it still expects it to boost its share price. Though, the broker believes the biggest impact to its share price will be plasma collection improvements. The CSL share price ended the week at $264.81.

JB Hi-Fi Limited (ASX: JBH)

A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this retail giant’s shares to $58.00. This follows the release of a sales update which revealed that business has been booming so far during the second half. Based on its strong performance, the broker believes its shares are undervalued at the current level. The JB Hi-Fi share price was fetching $54.78 on Friday.

Red 5 Limited (ASX: RED)

Another note out of Morgans reveals that its analysts have upgraded this gold miner’s shares to an add rating with a 48 cents price target. Morgans notes that Red 5 remains on track for first gold production at its King of the Hills (KOTH) Gold Project in Western Australia next quarter. This follows the recent achievement of further key construction and operational readiness milestones during February. The broker believes this has de-risked things materially and expects its shares to re-rate in the coming months as production commences and investors adjust their risk discounts. The Red 5 share price was trading at 38.5 cents on Friday.

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

More reading

• 2 blue chip ASX 200 shares analysts are urging investors to buy
• JB Hi-Fi (ASX:JBH) share price leaps 4% to all-time high
• Top broker says JB Hi-Fi (ASX:JBH) shares are ‘undervalued’
• Why Allkem, Firefinch, JB Hi-Fi, and Piedmont Lithium are charging higher
• Why Brickworks, JB Hi-Fi, Mesoblast, and Sayona shares are charging higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. 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 Bruce Jackson.

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Shares in Macquarie Group Ltd (ASX: MQG) finished the session on Friday up 0.65% to $197.87 apiece.

It’s been a busy month for the Aussie investment bank, with its share price charging 9.45% higher.

Generally speaking, ASX financials have propped up the broader market in 2022. Macquarie has been a major contributor alongside the other big listed banks.

Spicy recipe of macro flavour and analyst sentiment

The S&P/ASX 200 Financials Index (ASX: XFJ) has spiked 7.2% in a comeback over the past 30 days. Macquarie has moved with it, bouncing from a one-month low of $175.31 on 7 March.

After two months of volatility, financials like Macquarie have powered back up. They are now among the leading sectors of 2022 behind ASX resources shares.

For example, Morgans has a $200 share price target on Macquarie, even though it is neutral on the bank. At the time of the broker’s release, the bank was trading near $176.

Meanwhile, Morgan Stanley values the bank at $250 per share, suggesting considerable upside if the broker’s thesis pulls through.

The broker bets that buoyant commodity markets – particularly energy markets in Europe – will drive earnings growth for Macquarie in 2022.

Energy markets have soared in Europe lately amid geopolitical tensions. UK gas prices are up 460% year-on-year whilst Brent Crude has moved another 22% higher this month.

In Macquarie’s revenue breakdown last year, commodity markets were a key driver to turnover, as printed in its financial statements.

What else is impacting the Macquarie share price?

Macquarie has lodged a joint competing bid to acquire Uniti Group Ltd (ASX: UWL) in a $5 per share all-cash proposal.

As reported on Thursday, Macquarie Infrastructure and Real Assets Holdings Pty Limited (MIRA) and the Public Sector Pension Investment (PSPI) board have lodged a bid for Uniti.

Collectively, the pair have labelled themselves ‘Connect Consortium’. MIRA operates within Macquarie Asset Management’s Real Assets division.

It remains to be seen if there is any correlation between the gain in Macquarie’s share price this week and the Connect Consortium’s bid.

The bank has been delivering good returns for ASX investors over the past 12 months, with the Macquarie share price up 29% for the period.

The post Why has the Macquarie (ASX:MQG) share price rallied 9% in a month? appeared first on The Motley Fool Australia.

More reading

• Could a bidding war be on the cards for Uniti (ASX:UWL) shares?
• Uniti (ASX:UWL) said to be ‘considering’ Macquarie cash bid of $5 per share
• 5 things to watch on the ASX 200 on Thursday
• Is the Macquarie (ASX:MQG) share price heading for $250?
• If you invested $10,000 in Macquarie (ASX:MQG) shares a decade ago, here’s what it would be worth now

Motley Fool contributor Zach Bristow 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 recommended Macquarie Group Limited and Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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BHP Group Ltd (ASX: BHP) has always been a prominent member of the S&P/ASX 200 Index (ASX: XJO), and by extension, the ASX share market. That’s what you get when a company, founded in 1851 and with the nickname ‘the Big Australian’, grows to become one of the largest mining companies in the world.

But BHP’s presence on both the ASX and in the minds of investors, has only increased in recent years. For one, BHP shares have spent the past five years growing by more than 100% in value. Then we had the miner’s unification program earlier this year. This saw BHP end its dual-listing on the London Stock Exchange, and rehome exclusively to the ASX.

That made BHP the largest ASX 200 share on our share market by a mile, blowing past Commonwealth Bank of Australia (ASX: CBA). These days, if you put $100 into an ASX 200 Index fund, more than $11 of that $100 would go straight into BHP shares alone.

But BHP has been drawing attention for yet another reason in recent years too. That would be the massive dividends it has been shovelling into investors’ pockets.

BHP shares: paying out dividends like a slot machine

Record high iron ore prices over the past two or so years have seen BHP’s profitability explode. BHP has in turn used these profits to fund monster dividend payments. Its last final dividend was a monster payment of $2.7153 per share, fully franked and paid out in September last year. That was more than double 2020’s final dividend of 75.46 cents per share.

But now BHP is about to pay out its next dividend. And it’s a payment of similar proportions. BHP’s 2021 interim dividend was a hefty $1.31 payment, also fully franked. But BHP will dole out an even larger interim dividend on Monday (28 March). This payment will be worth $2.1073 per share, and will also come fully franked.

Unfortunately, if you don’t already own BHP shares, you won’t be eligible for this record dividend. The company’s ex-dividend date for this payment was back on 24 February, so anyone who bought into BHP on or after that date is ineligible.

But for longer-term BHP shareholders, Monday will no doubt be a happy day indeed.

At the current BHP share price, this ASX 200 mining giant has a market capitalisation of $249.57 billion, with a dividend yield of 9.61%.

The post How much is the next BHP dividend? appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week
• These 3 ASX 200 shares are topping the volume charts this Friday
• Why this fundie is steering clear of ASX mining shares
• BHP share price higher on broker upgrade

Motley Fool contributor Sebastian Bowen 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 Bruce Jackson.

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If you’re looking for exposure to the healthcare sector, then you may want to check out the three buy-rated shares listed below.

Here’s why the team at Morgans rates them as buys:

Cochlear Limited (ASX: COH)

The first healthcare share to look at is Cochlear. Morgans is a fan of this hearing solutions company due to its belief that its earnings profile is improving as COVID headwinds ease. Its analysts recently upgraded Cochlear’s shares to an add rating with a $233.20 price target.

It said: “Cochlear maintains a dominant position in the implantable hearing solutions segment. While we continue to believe a full recovery from Covid-based disruptions still has time to play out, improving demand and strong pipeline, coupled with management’s increasing confidence, is all suggestive of an improving earnings profile.”

Healius Ltd (ASX: HLS)

Another healthcare share to look at is Healius. Morgans likes this healthcare provider due to its attractive valuation, ongoing demand for PCR testing, and a post-COVID rebound in its base business. The broker has an add rating and $5.26 price target on its shares.

The broker explained: “We continue to believe HLS is attractively valued and well placed, benefiting from the likely continuance of COVID PCR testing (at some level) and from the inevitable rebound in demand from a backlog in diagnosis and surgery.”

ResMed Inc. (ASX: RMD)

This sleep treatment focused medical device company’s shares could be in the buy zone. Morgans currently has an add rating and $40.46 price target on its shares. The broker likes ResMed due to its long term growth potential.

It commented: “While we believe the next few quarters will likely be volatile, as Covid-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”

The post 3 ASX healthcare shares rated as buys by a leading broker appeared first on The Motley Fool Australia.

More reading

• Keen to bank the Cochlear (ASX:COH) dividend? Here’s what you need to know
• Why Aurelia Metals, Janus Henderson, ResMed, and Zip shares are dropping
• The Cochlear (ASX:COH) share price has bounced back from the pandemic. Are there more gains to come?
• Cheap ASX share better than Woolworths (ASX:WOW)– and it pays dividends
• The next ASX share ready to join the 20-bagger club: expert

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Cochlear Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Exchange traded funds (ETFs) continue to grow in popularity. And it isn’t hard to see why.

ETFs give investors easy access to a large and diverse number of different shares that they wouldn’t ordinarily have access to. This can be a great way to invest diversely on a limited budget or bolster an already sizeable portfolio.

With that in mind, listed below are two ETFs that could be worth looking at next week:

BetaShares Crypto Innovators ETF (ASX: CRYP)

The first ETF to look at is the BetaShares Crypto Innovators ETF. It could be a good option for investors that are interested in investing in the cryptocurrency industry but aren’t too keen on directly owning coins.

BetaShares notes that the ETF is designed to capture all sides of the crypto ecosystem. This is achieved by providing exposure to pure-play crypto companies, companies with balance sheets that hold at least 75% in crypto-assets, and diversified companies with crypto-focused business lines.

Among its holdings you’ll find Coinbase, PayPal, Riot Blockchain, Robinhood, Silvergate, and Afterpay’s new owner, Block. Given the nature of the industry, an investment in this ETF is not likely to be one for the fainthearted.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

Another ETF for investors to look at next week is the Vanguard MSCI Index International Shares ETF.

It is one of the most popular ETFs on the Australian share market and it isn’t surprising that this is the case. This is because the Vanguard MSCI Index International Shares ETF provides investors with exposure to over 1,500 of the world’s largest listed companies through just a single investment.

The types of companies you’ll be owning a slice of with this ETF include giants such as Apple, Johnson & Johnson, Nestle, Procter & Gamble, and Visa.

The post Here are 2 top ETFs for ASX investors next week appeared first on The Motley Fool Australia.

More reading

• How is the Vanguard International Shares ETF (ASX:VGS) performing in the 2022 volatility?
• 3 ETFs for ASX investors to check out next week
• 3 highly rated ETFs for ASX investors to check out this week
• 3 exciting ETFs ASX investors need to know now
• 3 exciting ETFs for ASX investors in March

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Betashares Crypto Innovators ETF and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Any ASX investor that has been paying attention to the markets in 2022 would know that it’s been a bumpy ride for most ASX shares. Some shares have weathered the storms better than others. But there remain some companies that have seen substantial haircuts to their valuations over both 2022, and, by extension, the past 12 months. Some of the hardest-hit shares have been those which investors typically categorise as ‘growth shares‘. 

ASX growth shares are often smaller, faster-growing companies that perhaps trade with high price-to-earnings (P/E) multiples. Or perhaps are even not profitable yet. Investors tend to get excited about these types of shares when the sun is shining, but quickly abandon them for safer harbours when storm clouds appear on the proverbial investing horizon. 

So let’s look at three such shares that remain down more than 50% over the past year. 

3 ASX growth shares down more than 50% in a year

Zip Co Ltd (ASX: Z1P)

Zip was promoted to the ASX’s largest buy now, pay later (BNPL) company early this year when former ASX growth share Afterpay was swallowed by Block Inc (ASX: SQ2). But if investors thought that this promotion would bode well for the Zip share price, they were to be very disappointed.

Zip has had a dreadful 12 months, whatever way you spin it. The BNPL company remains down almost 65% in 2022 alone, and by a depressing 80% or so over the past 12 months. That’s despite Zip managing to report some very high growth numbers in its most recent earnings report, despite a bottom-line loss.

Appen Ltd (ASX: APX)

Appen is another ASX growth share that has had a rough trot in recent months. This annotated dataset company is down a nasty 37.3% in 2022 thus far, and an even nastier 60.1% over the past 12 months. Appen was a company once venerated by ASX growth investors, even making the cut as a WAAAX share.                  

Its future-facing business model got investors hot under the collar a few years ago, and Appen saw its share price explode by 260% between August 2018 and August 2020. However, the sentiment has significantly cooled since then as Appen failed to meet investors’ growth expectations. Its last earnings report wasn’t well received by investors when the company reported a near-20% fall in after-tax profits. 

Kogan.com Ltd (ASX: KGN)

E-commerce share Kogan rounds out our ASX growth shares list today. Like the other two shares on this list, the Kogan share price has been decimated over the past 12 months. At the latest pricing, Kogan has lost more than 35% in 2022 thus far. As well as a sobering 58.2% over the past year. Kogan was in many ways a ‘pandemic winner’. The lockdowns of 2020 and 2021 saw huge boosts to Kogan’s business, which saw higher customer numbers and revenues. 

However, as the country and world has slowly returned to what you could call normal, Kogan saw its fortunes cool. Its most recent earnings report saw a slight increase in revenues and customers. But large falls in adjusted profits and earnings. Investors haven’t taken kindly to this, and have continued to keep the Kogan share price depressed. 

The post 3 ASX growth shares down more than 50% in a year appeared first on The Motley Fool Australia.

More reading

• Do Zip shares pay dividends?
• The Zip share price is down 7%, close to March 2020 lows
• Why Aurelia Metals, Janus Henderson, ResMed, and Zip shares are dropping
• Is the Appen (ASX:APX) share price on the comeback trail?
• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach

Motley Fool contributor Sebastian Bowen owns Kogan.com ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Appen Ltd, Block, Inc., Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, Inc. and Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re interested in bolstering your income portfolio with some new dividend shares, then the two listed below could be worth considering next week.

Here’s what analysts are saying about these dividend shares right now:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend share to consider is baby products retailer, Baby Bunting.

Over the last decade, the company has carved out a leadership position in a niche but lucrative market with its collection of 60 national superstores across Australia.

But while this is a large number of stores, the team at Citi sees scope for its network to increase materially in the coming years.

Citi commented: “We reiterate our Buy rating and see the company having a range of multi-year growth strategies including rollout (target of 110+ stores, with 68 expected by end of FY22e), exclusive/private label growth and supply chain efficiencies.”

The broker currently has a buy rating and $6.11 price target on its shares. As for dividends, Citi has pencilled in fully franked dividends per share of 16 cents in FY 2022 and 20 cents in FY 2023. Based on the current Baby Bunting share price of $4.86, this will mean yields of 3.3% and 4.1%, respectively.

Westpac Banking Corp (ASX: WBC)

Another dividend share that is highly rated is Australia’s oldest bank, Westpac.

It could be a quality option for investors that don’t have exposure to the banking sector. This is due to its strong market position and attractive valuation in comparison to the rest of the big four.

Morgans remains a big fan of the banking giant despite the margin pressures it has been facing. It also believes the bank can deliver on its bold cost cutting targets, which would bode well for its earnings in the coming years.

Its analysts commented: “WBC is our preferred major bank. We believe WBC offers the most compelling valuation of the major banks. In terms of quality of overall risk profile, we believe WBC is a close second to CBA. On credit risk, we believe WBC is positioned relatively defensively due to its loan book being more skewed to Australian home lending.”

Morgans has an add rating and $29.50 price target on the bank’s shares. As for dividends, the broker has pencilled in fully franked dividends per share of $1.19 in FY 2022 and $1.60 in FY 2023. Based on the latest Westpac share price of $23.75, this will mean yields of 5% and 6.7%, respectively.

The post Why analysts rate Westpac and this ASX dividend share as buys appeared first on The Motley Fool Australia.

More reading

• Why are ASX 200 bank shares underperforming on Thursday?
• NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback
• Here’s what $10,000 worth of Westpac (ASX:WBC) shares bought 10 years ago looks like today
• Analysts name 2 ASX dividend shares to buy right now
• 25% upside and healthy yield: Why this broker is bullish on the Westpac share price

Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. 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 recommended Baby Bunting and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) was on form again last week. Over the period, the benchmark index rose a sizeable 1.5% to finish the week at 7,406.2 points.

While a good number of shares climbed higher with the market, some climbed more than most. Here’s why these were the best performers on the ASX 200 last week:

EML Payments Ltd (ASX: EML)

The EML share price was the best performer on the ASX 200 last week with a 17.5% gain. This appears to have been driven by improving sentiment in the tech sector. In addition, the previous week the payments company announced that it has entered the Employee Benefits Market (EBM) in Europe through a multi-year agreement with Up Spain. The EBM is worth over A$88 billion globally.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price wasn’t far behind with a 14.6% gain over the five days. This was despite there being no news out of the lithium miner. However, a good number of lithium shares surged higher last week. This could have been due to a rotation back to risk assets and optimism that sky high oil prices will accelerate the shift to electric vehicles.

IGO Ltd (ASX: IGO)

The IGO share price was a strong performer and stormed 13.8% higher over the period. The buying pressure was so strong that the battery metals producer’s shares hit a record high at one stage. On Thursday the nickel price continued its wild ride and jumped 15% to hit its limit on the LME.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price was on form and climbed 12.3% last week. This latest gain means the coal miner’s shares are now up over 150% since this time last year. While there was no news out of Whitehaven Coal, industry peer New Hope Corporation Limited (ASX: NHC) released its half year results and impressed the market with a 582% increase in underlying EBITDA to $554.4 million.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• The IGO (ASX:IGO) share price hit a new all-time high today. Could this be why?
• These 3 ASX 200 shares are topping the volume charts this Friday
• Why this fundie is steering clear of ASX mining shares
• Why is the EML Payments (ASX:EML) share price being shorted so much lately?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended EML Payments. The Motley Fool Australia owns and has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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S&P/ASX 200 Index (ASX: XJO) tech shares have been widely battered in 2022.

The ASX 200 itself has come under pressure amid the spectre of fast rising interest rates and following on from Russia’s invasion of Ukraine. Both of these factors have contributed to the 2.4% year-to-date loss for the benchmark index.

But tech shares, broadly, have done it much tougher.

Witness the 18.3% year-to-date drop in the S&P/ASX All Technology Index (ASX: XTX), which also contains tech shares outside of the ASX 200.

Ouch.

So, is it time to go fishing for bargains?

Only with due caution, according to Jessica Amir, Australian market strategist at Saxo Markets.

And make sure they’ve got the requisite ‘secret sauce’.

The secret sauce for share price growth

Amir notes that fundamentals indicate the market is pricing in that the ASX 200 will rise in 2022. That’s largely based on earnings per share (EPS) growth forecasts.

According to Amir, “The market thinks EPS growth of 17% will come. The ASX energy sector itself it touted to generate 61% EPS growth over 12 months, and the mining sector 33% EPS growth.”

With commodity shares comprising 30% of the index, Amir said the market expectations are “quite feasible”.

As for ASX tech shares, Amir said:

The market (consensus) expects the Australian tech sector to generate 860% EPS growth. Wow. We think that is not realistic for the tech sector and advocate for selective buying into tech. If you do buy into tech, consider profitable stocks, those with dominant/growing market share and those that are growing their earnings. That’s the secret sauce for share price growth.

The catch, however, is that most of ASX 200 tech shares don’t make profits.

ASX 200 tech shares making profits

Amir did single out a few companies that are profitable, including WiseTech Global Ltd (ASX: WTC) and the Xero Limited (ASX: XRO).

WiseTech is a global provider of cloud-based software solutions for the logistics sector. While Xero provides business and accounting software.

While they may be amongst the few currently profitable ASX 200 tech shares, that hasn’t spared shareholders some significant losses in 2022.

Year-to-date the WiseTech share price is down 14.6% while Xero shares have lost 29.5%.

The post Is this the ‘secret sauce’ for ASX 200 tech share price growth? appeared first on The Motley Fool Australia.

More reading

• 3 ASX tech shares worth buying now to hold for years
• 3 beaten-down technology ASX shares to buy right now: expert
• Analysts name 2 ASX growth shares to buy
• Is the Xero (ASX:XRO) share price on the way back up to its January highs?
• Are these 2 ASX tech shares excellent buys right now?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended WiseTech Global and Xero. The Motley Fool Australia owns and has recommended WiseTech Global and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Last week, the S&P/ASX 200 Index (ASX: XJO) was on form again and charged higher. The benchmark index rose an impressive 1.5% over the five days to finish the period at 7,406.2 points.

Unfortunately, not all shares were able to climb higher with the market. Here’s why these were the worst performers on the ASX 200 last week:

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price was the worst performer on the ASX 200 last week with a 17.6% decline. This was despite the radiopharmaceuticals company revealing that the buildout of its Belgian production facility has begun. To fund the development, the company has secured an $18.2 million loan and applied for $3 million of grants. In other news, Telix issued 1,400,000 shares upon the exercise of unlisted share options. This is the third such issue in the space of four weeks. Given how these were exercisable at a much lower price than the current Telix share price, it’s possible that they were swiftly sold.

Austal Limited (ASX: ASB)

The Austal share price wasn’t far behind with an 11.8% decline over the five days. Investors were selling the shipbuilder’s shares after the Philippines Navy decided to sole-source foreign-built Offshore Patrol Vessels. This was instead of purchasing Austal-built vessels facilitated through a Government Memorandum of Understanding with the Commonwealth of Australia. Austal will now focus on securing orders for commercial ferries for its Philippines shipyard. The company also copped a downgrade from Macquarie late in the week.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price was out of form and sank 11.6% last week. This was driven by the release of a trading update out of the medical device company. Fisher & Paykel Healthcare advised that it expects FY 2022 operating revenue in the range of NZ$1.675 billion to NZ$1.70 billion. This represents a 13.7% to 15% year on year decline from NZ$1.97 billion in FY 2021. It also warned that higher freight costs would impact margins.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price continued its slide and dropped a further 9.8% last week. Investors were selling the embattled fund manager’s shares after its founder, Hamish Douglass, resigned as a director with immediate effect. Douglass took indefinite leave from the role as chairman last month following a period of intense pressure and focus on both his professional and personal life. This may be being interpreted as a sign that he won’t be coming back.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Friday
• Why Atlas Arteria, Core Lithium, Premier, and Telix shares are dropping
• Why this fundie is steering clear of ASX mining shares
• Why is the Telix Pharmaceuticals (ASX:TLX) share price plunging 14%?
• ASX 200 (ASX:XJO) midday update: Premier’s record dividend, BHP upgraded

Motley Fool contributor James Mickleboro owns TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Austal Limited. 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 Bruce Jackson.

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