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5 quality ASX shares to buy in August

If you’re considering a few changes to your portfolio in the near future, then you might want to take a look at the shares listed below.

I believe these five ASX shares would be great options for investors right now:

a2 Milk Company Ltd (ASX: A2M)

The first quality ASX share to consider buying is this fresh milk and infant nutrition company. It has really caught the eye over the last few years thanks to its rapid earnings growth. Pleasingly, I‘m confident this strong form can continue for some time to come thanks to the increasing demand for its infant formula products in the massive China market.

Altium Limited (ASX: ALU)

Altium is an electronic design software provider that I would buy. I think it could be a great long term option due to the Internet of Things and artificial intelligence booms which are driving strong demand for its Altium Designer software. It also has other businesses, such as Octopart, that have a lot of potential. I expect them to support its overall growth in the 2020s.

CSL Limited (ASX: CSL)

I think this biotherapeutics company is a standout buy. Thanks to its world class CSL Behring and Seqirus businesses, I continue to believe CSL can be a market beater for some time to come. Especially considering the increasing demand for immunoglobulins, its growing plasma collection network, and its lucrative product development pipeline.

Nanosonics Ltd (ASX: NAN)

This infection control specialist could be a quality long term option for investors. It is the company behind the industry-leading trophon EPR disinfection system for ultrasound probes. I expect this product and the upcoming launch of several new products to underpin solid earnings growth over the next decade.

Pushpay Holdings Group Ltd (ASX: PPH)

A final option to consider is Pushpay. It is a donor management platform provider for the faith sector that has been growing at a rapid rate thanks to its leadership position in a niche but lucrative market. Management has set itself a target to win a 50% share of the medium to large church market in the future. This represents a US$1 billion revenue opportunity and is many times greater than FY 2020’s revenue of US$127.5 million.

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*Returns as of 6/8/2020

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd., Nanosonics Limited, and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Nanosonics Limited and PUSHPAY FPO NZX. 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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