How did ASX healthcare shares perform in the FY22 first quarter?

ASX healthcare shares have pivoted from the major benchmarks in Q1 to book gains.

| More on:
A man in a wheelchair stretches both arms into the air in success.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

As we make our way through the first half of FY22, equity markets have begun to shake up somewhat in the last few weeks.

The benchmark S&P/ASX 200 Index (ASX: XJO) has slumped almost 4.5% into the red over the last month, back to its May 2021 levels.

Leading the way is the S&P/ASX 200 Health Care Index (XHJ), which has slipped around 6% lower in the last month.

Let's zoom out and look at how ASX healthcare shares have performed in Q1 FY22.

How did ASX healthcare shares go in Q1 FY22?

As a whole, ASX healthcare shares were in the green for the first quarter, in a robust performance on the local exchanges.

The ASX 200 Health Care index has climbed 1.3% this past quarter, and now leads the benchmark index over this time.

Broad weakness across the ASX has stemmed a 3-month decline for the major indices, with the S&P/ASX 200 handing back just over 1% in Q1.

So as it stands, taking a broad view, ASX healthcare shares outperformed the market in the first quarter of FY22.

Impressive gains are observed on the individual share level for Q1 in this sub-group.

For instance immunotherapy company Imugene Limited's (ASX: IMU) share price has climbed from 35 cents to 47.5 cents in the last quarter, a 36% jump.

Not to mention, the Imugene share price came off lows of 28 cents on 9 August to reach its all-time high in Q1 FY22.

Medicinal cannabis company Incannex Healthcare Ltd (ASX: IHL) was also a winner, with shareholders clipping the ticket on a 35% bump in its share price last quarter.

Ramsay Health Care Limited (ASX: RHC) shares were also climbers in Q1, delivering an outsized return of 11% after a healthy $6.80 per share gain from July to 30 September.

However, it wasn't all rainbows for the sector, with some names coming in well behind the benchmarks.

After some excitement earlier in the year, the Little Green Pharma Ltd (ASX: LGP) share price made a 26% march down south from highs of 93 cents.

In and around the small to large cap names, there are instances of both underperformance and outsized returns.

Foolish takeaway

In the last month, the ASX healthcare indices have led the market's losses. Within this group, some shares are outperforming while others are lagging behind their key benchmarks.

Nonetheless, as a whole, ASX healthcare shares appear to have outperformed the broad index in the last quarter.

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Healthcare Shares

Research, collaboration and doctors working digital tablet, analysis and discussion of innovation cancer treatment. Healthcare, teamwork and planning by experts sharing idea and strategy for surgery.
Healthcare Shares

Buy, hold or sell these 3 ASX 200 healthcare shares: Experts

These experts reveal their calls on CSL, Resmed and Sonic Healthcare shares today.

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Share Gainers

Guess which ASX healthcare stock just exploded 63% on Federal budget funding news!

Investors are bidding up the ASX healthcare stock amid extra funding in the Federal budget.

Read more »

two doctors smile as they sit together at a desk looking at a patient's Xray.
Healthcare Shares

This ASX 200 healthcare stock just hit an all-time high: Is it too late to buy?

The valuation of this high-performer has soared.

Read more »

A smiling woman sits in a cafe reading a story on her phone about Rio Tinto and drinking a coffee with a laptop open in front of her.
Healthcare Shares

1 magnificent ASX stock down 10% to buy and hold forever

Analysts say this high-quality stock is a great option for investors right now.

Read more »

ventilator mask
Healthcare Shares

3 reasons ResMed shares 'are just too cheap!'

This stock could still produce healthy gains, according to one fund manager.

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

2 ASX healthcare shares rocking higher on big news

This 'spray-on skin' company and cancer-fighting biotech have exciting news for shareholders today.

Read more »

Scientists working in the laboratory and examining results.
Healthcare Shares

Insider still buying Mesoblast shares despite 230% rise this year: Should you buy?

This high-flying share is still reporting insider buying. Should you buy too?

Read more »

A woman reclines in a comfortable chair while she donates blood holding a pumping toy in one hand and giving the thumbs up in the other as she is attached to a medical machine to collect her blood donation.
Healthcare Shares

Buy CSL shares for growing dividends and 'compelling long-term tailwinds'

CSL has increased both its interim and final dividend every year since 2021.

Read more »