A new month is on the horizon, so what better time to take a look at your portfolio and see if there are any additions that could take it to the next level.
To help you on your way, I've picked out three quality growth shares that I believe are well-placed to be market beaters in the 2020s.
Here's why I think it is worth looking at adding them to your portfolio in May:
Altium Limited (ASX: ALU)
Altium is a printed circuit board-focused design software platform provider. These are found in almost all electronic devices, especially those that connect to the internet. Thanks to the Internet of Things (IoT) boom, demand for its software continues to grow. So much so, it is aiming to increase its revenue to US$500 million by FY 2025. This compares to its FY 2020 guidance of US$200 million. I believe it will achieve its targets thanks to the IoT tailwind, which could make its recent share price weakness a buying opportunity.
Nanosonics Ltd (ASX: NAN)
Another option to consider is Nanosonics. It is a leading infection control specialist which I believe is well-placed for growth thanks to its industry-leading trophon EPR disinfection system for ultrasound probes. This system has a massive global market opportunity and looks likely to capture a big slice of it thanks to its quality and favourable industry guideline changes. Another positive is the upcoming launch of new products which should give its growth a further boost and diversify its business.
Pro Medicus Limited (ASX: PME)
A final share to consider buying is Pro Medicus. It is a provider of radiology IT software and services to hospitals, imaging centres, and healthcare companies. It has been growing at a very strong rate over the last decade thanks to increasing demand for its software. In FY 2019 Pro Medicus delivered a massive 91.9% increase in full year profit to $19.1 million. It then followed this up with a 32.7% increase in net profit after tax to $12.1 million during the first half of FY 2020. And while the pandemic might stifle its growth in the second half, I remain confident that its long-term growth potential is enormous.
