While these last few weeks have been filled with investor uncertainty, there have been clear outperformers. Recently, these 3 ASX healthcare shares have been popping up on my radar after posting strong FY19 results.
If you're looking to supercharge your portfolio with some high-growth opportunities, it's worth keeping your eye on these companies this month.
PolyNovo
PolyNovo Ltd (ASX: PNV) has commercialised a skin-supplement product which seeks to treat dermal ailments like ulcers and partial or full wounds.
Last week alone, the PolyNovo share price jumped 19% higher for a $2.56 close on Friday. If you had invested in PolyNovo at the beginning of the year however, you would have more than a 3x return.
In FY19, PolyNovo grew the sales of its flagship product, NovoSorb BTM, by a stellar 435%. From the year prior, the company's loss was 46% lower, netting just $3.19 million.
While the company is trading at a precarious 120x price-to-sales ratio, its expansion across Europe and Asia in 2020 and the products in its pipeline are highly promising.
Nanosonics
Nanosonics Ltd (ASX: NAN) creates and distributes the trophon EPR, an ultrasound probe disinfector which eliminates ultrasound-related cross-infections.
Since announcing impressive FY19 results, the Nanosonics share price has charged 32% higher, closing at $6.44 on Friday. Moreover, in the year-to-date, the company has returned a stellar 132%, making it an incredible outperformer of the ASX.
This share performance has been driven by its growing bottom line. Operating profits before tax rose 201% to $18.8 million and revenue was 39% higher to $84.3 million.
Beyond trophon sales, a growing proportion of Nanosonics' revenue is its associated consumables, infection control and decontamination products and services. By growing its global installed user base 18% higher than the prior corresponding period, Nanosonics also boosts its customer share of wallet with these additional offerings.
Nanosonics also launched trophon2 this year in the US market with great success and is looking to distribute to Japan in the next few months.
Opthea
Opthea Ltd (ASX: OPT) develops biological therapeutics for eye diseases, particularly those associated with blood and lymphatic vessel growth and vascular leakage.
While the company's share price has cooled since its $4.00 peak last month, Opthea's share price has exploded in 2019. At $3.33 as of Friday close, investors who got in early this year have seen this stock-pick grow 376%.
While this company has recorded just $240,109 profits over the last year, a driver of its share price growth is the success of recent clinical trials. Opthea's molecular treatment, OPT-302, is used to target wet age-related macular degeneration (AMD). Results from its Phase 2b trial reflected superior results to all other treatments on the market.
While this is still early days, its rocketing stock price is a reflection of growing investor expectations that Opthea could be acquired by a pharmaceutical giant in the future.
