Here’s what happened to the CSL (ASX:CSL) share price in the FY22 first quarter

We look at how the biotechnology giant’s shares performed over the last quarter

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Here at the Motley Fool, we’ve been checking out how some of the ASX 200’s blue-chip shares have performed in the most recent quarter.

In Australia, we run on a July-June financial year. That means the first quarter of said financial year (1 July – 30 September) has just wrapped up. So today, we’re looking at the CSL Limited (ASX: CSL) share price, and how it performed over this period.

CSL is one of the largest shares in the S&P/ASX 200 Index (ASX: XJO). It was actually the largest share for a while last year, pipping Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP). As it stands today, CSL is the ASX 200’s No. 2 share, recently overtaking BHP, which has been suffering due to falling iron ore prices.

CSL used to be known as one of the ASX’s top growth shares. Its share price exploded over 2017, 2018, and 2019, but has been struggling more recently in the shadow of the pandemic.

So how did CSL shares fare over this most recent quarter?

CSL outperforms ASX 200 in FY22 first quarter

CSL shares started on 1 July at a price of $285.19. They finished up at $293.40 on 30 September. That means the CSL share price appreciated by around 2.88% over the quarter. That’s a fair bit above what the ASX 200 managed — an increase of roughly 0.26%.

As it stands today, the CSL share price last traded at $290.46 as of Friday’s close (up 0.83%). The company is up 1.92% year to date in 2021.

However, it’s still down around 1.65% over the past 12 months, and close to 14% from the company’s all-time high, which it hit way back in February 2020. Even so, the company is still up by about 175% over the past 5 years.

Could CSL shares be a buy right now?

With the quarter CSL just had, and its distance from its all-time high, many an investor may be wondering if the company might be a buy today. Well, as my Fool colleague Tristan covered last week, there are a couple of brokers who think it might be.

Credit Suisse is one such broker. It currently rates CSL shares with a 12-month share price target of $315, albeit with a ‘neutral’ rating. That implies a potential upside of roughly 8% from here. Credit Suisse still reckons CSL can grow its profits, even if competitive threats are rising for the company.

At CSL’s last share price of $290.46, the company has a market capitalisation of $131.26 billion, a price-to-earnings (P/E) ratio of 40.64, and a dividend yield of 1.01%.

Should you invest $1,000 in CSL right now?

Before you consider CSL, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and CSL wasn't one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

Motley Fool contributor 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 and has recommended 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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