How did the CSL share price fare in May?

The biotechnology company’s share price was affected by the attention it received from several brokers.

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How did the CSL Limited (ASX: CSL) share price fare over the month of May? Good question!

The CSL share price has certainly had a rocky 12 months or so, despite the fact that it’s trading at almost the same level today as it was exactly a year ago. Over the past 12 months, CSL shares have bounced around the ASX, trading for as high as $320 and as low as $242.

But what of the month just gone? Well, CSL started May at $271.16 a share and ended the month at $290.47. That puts the company’s May gains at 7.12%. Objectively, not a bad performance for one month. For some perspective, the S&P/ASX 200 Index (ASX: XJO) managed a gain of 1.9% over the same period.

May news

So what happened in May over at CSL? Well, not too much news came out of the healthcare giant last month. Perhaps the most significant item of interest came early on. Back on 6 May, CSL announced that the company is pressing ahead with a commercialisation and license agreement with Uniqure NV (NASDAQ: QURE). Uniqure is a company that is developing a treatment called etranacogene dezaparvovec (or AMT-061) to treat haemophilia B.

Under the deal, CSL will have the rights to commercialise and sell AMT-061 if all goes to plan. However, investors didn’t seem too chuffed at the idea at the time and sent CSL shares down on the day this was announced. By the end of the month, it didn’t seem like much of a market-mover though.

A factor that was clearly playing in CSL’s favour though was the attention it received from brokers and fundies over May. The Motley Fool covered several fund managers and brokers who all gave bullish opinions on the CSL share price over the month. These included brokers Citi and Credit Suisse, as well as fundie Michael Wayne of Medallion Financial.

About the CSL share price

As we discussed earlier, CSL has had a bumpy year, despite the parity of the current share price to where it was 12 months ago. But before the COVID market crash of last year, CSL was one of the best ASX 200 blue chips to own. It rose almost 200% between June 2016 and February 2020, when it hit its current all-time high of $336 a share. Even on today’s levels, CSL remains around 15% off of that all-time high.

On current pricing, CSL shares have a market capitalisation of $130 billion, a price-to-earnings (P/E) ratio of 37.78 and a trailing dividend yield of 0.99%.

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Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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