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3 quality ASX shares to add to your portfolio

Are you looking for some ASX share suggestions for your share portfolio?

I believe the following three companies are all excellent candidates. Here’s why all three are on my buy list right now.

3 quality ASX shares to buy right now

Ansell Limited (ASX: ANN)

Ansell develops and manufactures gloves and other personal protective equipment (PPE) in the industrial and medical markets. The sales of the company’s hand and body protection products in particular have surged during the coronavirus pandemic. This strong demand has assisted in pushing the company’s share price higher in recent months. The Ansell share price has risen more than 80% from $21.43 in late March to now be trading $38.72.

I believe that Ansell is well positioned for long-term growth driven by its strong competitive position, broad customer base and geographic diversity.

Nanosonics Ltd. (ASX: NAN)

Nanosonics manufactures and distributes disinfection system for ultrasound probes. Its core product is named the ‘trophon EPR’ disinfection system. It has achieved widespread industry recognition as the market leader in its particular niche.

Nanosonics has experienced strong revenue growth over the past few years. This revenue growth has also been reflected in a rising share price. From the beginning of 2019, the Nanosonics share price has risen more than 125% from $2.79 to now be trading at $6.28.

More recently, revenue growth for Nanosonics has continued to rise strongly, despite the challenges of the pandemic. Total revenue for the first half of FY20 amounted to $48.5 million. This was a healthy increase of 19% on the prior corresponding period (pcp).

I believe that Nanosonics’ long-term future looks bright due to the growing global demand for stricter disinfection control in hospitals.

Dicker Data Ltd (ASX: DDR)

Dicker Data is Australia’s largest value added distributor of hardware, software, cloud and other emerging technologies.

The company achieved another strong set of financial numbers for the six months ending 30 June 2020. Total half year revenue from ordinary activities was up by 18.1% to $1,006 million.

The Dicker Data share price has risen nearly 84% from a low of $4.10 on 23 March to currently be trading at $7.54.

Strong recent demand has been driven by a surge in the requirement for additional remote and virtual work solutions during the pandemic. 

Dicker also pays an attractive dividend yield of 4.04%, fully franked.

Foolish takeaway

Ansell, Nanosonics and Dicker Data are three ASX shares that I would be happy to own as part of my share portfolio. All three companies have strong market positions in their respective industries and strong growth prospects over the next three years.

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Phil Harpur owns shares of Nanosonics Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia has recommended Ansell Ltd. 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 Scott Phillips.

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