Want growth? Try these 3 shares

Global economic changes have caused these three shares to trade at attractive levels.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

There are many different factors that can affect share prices. The local and global economy can affect prices. Interest rates can affect prices. Fear can affect prices.

Exchange rates can also have an effect on share prices, particularly ones that earn most of their revenue or report in foreign currencies.

The rising Australian dollar has caused some ASX-listed share prices to decrease to attractive values.

Here are three of my favourites at the current prices:

Nanosonics Ltd. (ASX: NAN)

Nanosonics has seen its share price fall from $3.35 in May to today's $2.29. This business has created the latest in disinfectant standards for ultrasound probes.

It has been increasing its presence, reaching more medical centres in America and Europe, with much more potential growth to come.

Nanosonics is currently trading at 37x FY19's estimated earnings and doesn't yet pay a dividend.

Altium Limited (ASX: ALU)

Altium is one of the most exciting companies on the ASX worth over a billion dollars, in my opinion.

It is the creator of electronic PCB design software which is used by organisations like NASA, John Deere and Cochlear Limited (ASX: COH).

The rising Aussie dollar has seen Altium's share price fall to today's $8.40, I think this is an attractive price. It's currently trading at 19x FY19's estimated earnings with an unfranked dividend yield of 2.5%.

CSL Limited (ASX: CSL)

The healthcare giant has been one of the best blue chips over the past decade. I don't think its long-term growth success is going to stop any time soon with how much the business is ploughing into research and development for future treatments.

The share price has dropped from its all-time high of $143.33 to today's $126.79. It's currently trading at 25x FY18's estimated earnings with an unfranked dividend yield of 1.36%.

Foolish takeaway

Currency movements can create interesting opportunities on the stock market for investors to take advantage of.

At the current levels, I think Altium would be the best buy as it is expected to ramp up earnings over the next few years.

Motley Fool contributor Tristan Harrison owns shares of Altium. The Motley Fool Australia owns shares of Altium and Nanosonics Limited. 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 Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »