The 3 most explosive ASX growth stocks to buy in 2015

Companies such as Greencross Limited (ASX:GXL), ResMed Inc. (CHESS) (ASX:RMD) and Cover-More Group Ltd (ASX:CVO) could deliver above-par returns in 2015.

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With 2014 drawing to a close and next year fast approaching, investors need to start looking at which stocks will deliver them with the greatest returns for the next 12 months. Indeed, news from the economic and business front will quieten down in the lead up to Christmas, giving investors the perfect opportunity to reassess their positions and allocation sizes.

When doing so, investors need to consider the trends that will likely be at play for the year ahead. First and foremost, investors will continue to target high-yield dividend stocks, given that interest rates are widely expected to remain low. In fact, some forecasts have even suggested rates will drop below 2%!

With that in mind, let's take a look at three companies which could be set for big returns in 2015…

1. Greencross Limited (ASX: GXL)

By looking at the chart below, it is clear that Greencross is one of the most exciting stocks on the ASX. Its shares have returned an incredible 845% since the beginning of 2010, compared to a measly 8% from the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).

Greencros vs XJO

Source: Google Finance

Greencross is Australia's leading provider of veterinary services and pet retail with 7.5% control of the market, but it is targeting 20% market dominance in the coming years. It recently reconfirmed EPS guidance of 36 cents per share for FY15 which would reflect growth of 50% over FY14. Despite this dominance, the shares are still trading at a significant discount to their price in August. At $8.30, Greencross could deliver fantastic returns in 2015 and the years to follow.

2. ResMed Inc. (CHESS) (ASX: RMD)

ResMed Inc. is a global powerhouse in the healthcare field. It develops and manufactures medical products for the treatment of respiratory disorders, with a particular focus on sleep apnea.

The market opportunity for ResMed is enormous. Respiratory disorders are becoming increasingly prevalent all around the world, which is largely due to our Western lifestyles and growing rates of obesity. While studies have shown that around 100 million people suffer from sleep apnea around the world, roughly 80% remain undiagnosed. As awareness increases, so too should demand for ResMed's products which could see profits grow enormously in the years and decades ahead.

3. Cover-More Group Ltd (ASX: CVO)

Cover-More Group is Ausralia's number-one travel insurance business with an estimated 40% market share – not to mention a growing share of the Indian and Chinese markets, too. Despite what many investors might assume, the travel insurance market is an extremely resilient industry, highlighted best by the following chart…

 

Australian outbound travel

Source: Cover-More Group Prospectus 2014

As can be seen, the industry grew even through disease outbreaks, terrorist attacks and the start of the Global Financial Crisis. With strong outbound travel expected to be sustained, Cover-More Group should enjoy a robust 2015 and strong growth for years to come.

NEW: The Motley Fool's #1 Stock Pick for 2015 – Yours FREE!

As attractive as Greencross, ResMed and Cover-More Group are, there's one more stock which could be an even greater buy for 2015.

Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned.

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