3 ASX health care shares that outpaced the market on Friday

These three healthcare shares had a better day than the broader index.

| More on:
three excited doctors with hands in the air

Image source: Getty Images

The benchmark S&P/ASX 200 Index (ASX: XJO) finished up 0.17% at 7,392 points after spending most of the week in the red.

Even with the gain, three ASX health care shares stood out today, with each posting returns that outpaced the market.

Here is the rundown on what happened with each today.

Trajan Group Holdings Ltd (ASX: TRJ)

Shares in global analytical science and device company Trajan Group jumped over 8% today and finished near an all-time high.

Investors bought into the company’s shares after it announced it had completed the acquisition of German company Axel Semrau overnight.

The company completed the deal on a consideration of 17 million euros. This gives the company further exposure to the European markets.

The Axel Semrau company manufactures laboratory automation and chromatography software and detection systems. The company reported FY21 (year ended Sept 2021) revenues of 14.9 million euros and EBITDA of 1.46 million euros.

Trajan shares traded as high as 8% late in the session today, after climbing gradually from the open.

Early investors have been rewarded with their holdings in Trajan Group. Its share price has gained over 105% since listing in early July.

SDI Limited (ASX: SDI)

Shares in supplier of dental restoration materials SDI traded as much as 7% higher before dumping just before the closing bell today.

At market close, SDI’s shares are fetching $1.07 apiece and are up only 1.90%. They were on the move as Investors responded positively to the company’s AGM release today.

In its address, the company’s chairman Jeffery Cheetham gave an overview of the company’s operations for the year. He also addressed how the firm has created value for its shareholders in that time.

For instance, SDI declared a final dividend of 1.65 cents per share on top of its interim dividend of 1.5 cents per share. Combined, this signified a 70.3% growth in the dividend payout ratio from the previous year.

SDI also launched several new products in its whitening and glass ionomer range and continues to invest in research development, as per its report.

The SDI share price has gained over 31% in the past 12 months after rallying another 36% this year to date.

Bcal Diagnostics Ltd (ASX: BDX)

Shares in Bcal Diagnostics hit an intraday high of 15.2 cents in early trade today and held course until the finish.

The gains are a welcomed turn for Bcal shareholders, who have lost 39% in the past few months since the company listed.

There wasn’t any price-sensitive news out of Bcal’s camp today, however, its share price has been on the downward slope for the last few weeks.

But, the company did release trial results for its BCAL test early in the month. That data readout supported and reinforced previous studies conducted by the company.

Bcal advised its BCAL test showed positive results in samples obtained from a recent Cohort 4 test. The company is now seeking to further refine its BCAL algorithm and biomarker development.

Investors have bought in at the lows today and volume is about 50% of the company’s 4-week average volume for number of shares traded.

ASX health care shares have done well across the board today as well. The S&P/ASX 200 Health Care Index (ASX: XHJ) finished up around 1%, after gaining more than 6% in the past month, indicating strengths across the broad sector.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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 SDI 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

Two scientists in a Rhythm Biosciences lab cheer while looking at results on a computer.
Healthcare Shares

Imugene (ASX:IMU) share price leaps 10% on new Roche deal

Key Points Imugene shares rocket on back of new supply agreement with Roche Clinical trial of PD1-Vaxx will be combined …

Read more »

Lab technician analyses a sample in a laboratory for a clinical trial
Healthcare Shares

Race Oncology (ASX:RAC) share price rises following preclinical discovery

Key points The Race Oncology share price is up as high as 2.8% today A new discovery relating to heart …

Read more »

shocked man with hands over his face with a declining graph in background representing falling CleanSpace share price
Healthcare Shares

Why the AnteoTech (ASX:ADO) share price is plummeting 23% on Friday

Key Points AnteoTech shares sink on additional request for information by the TGA The company submitted a performance report last …

Read more »

Group of Imugene scientists cheering in the lab after the company received another patent for HER-Vaxx
Healthcare Shares

Why the Imugene (ASX:IMU) share price advanced 5% on market open

Key points Imugene share price soared 5% on the back of European patent approval This is further intellectual protection for …

Read more »

A healthcare worker wearing a white coat holds his fingers to his mouth looking worried as healthcare stocks like Cochlear crash today
Earnings Results

ResMed (ASX:RMD) share price on watch after Q2 update disappoints

Key points ResMed delivered solid revenue and profit growth in the second quarter A major competitor product recall boosted demand …

Read more »

Lab worker puts hands in the air and dances around
Healthcare Shares

Here’s why the Rhythm Biosciences (ASX:RHY) share price soared 8% today

Key points The Rhythm Biosciences share price finished the day up by more than 8% after earlier jumping by 19% …

Read more »

gloved hand holding covid-19 vaccine against backdrop of australian flag
Healthcare Shares

Own CSL (ASX:CSL) shares? Here’s why the company is moving on from COVID research

CSL Limited (ASX: CSL) shares are joining the broader ASX selloff today, down 3.93% to $248.20 per share. The S&P/ASX …

Read more »

Graph showing a fall in share price.
Healthcare Shares

Why is the Cochlear (ASX:COH) share price tumbling 5% on Thursday?

Key points Cochlear is one of the worst performing ASX 200 healthcare stocks on Thursday Right now, its share price …

Read more »