How did the CSL share price escape the carnage today?

Could shares in the ASX healthcare company be in for a better ride?

| More on:
Happy healthcare workers in a labs

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

Key points

  • The CSL share price finished in the green today 
  • The company's shares jumped by more than 2% before retreating 
  • Analysts have named CLS as a share to buy in volatile times 

The S&P/ASX 200 Index (ASX: XJO) may have slipped today, but the CSL Ltd (ASX: CSL) share price had a better day.

CSL shares jumped 0.84% to $270.40. In comparison, the benchmark index dropped 1.18% today.

So what is happening at CSL?

How is the CSL share price performing?

Shares in the global biotech company jumped 2.15% in earlier trade to $273.95 before retreating to the current share price. For perspective, the S&P/ASX 200 Health Care Index (ASX: XHJ) also leapt more than 1% in early trade from 40,260 to 40,683 points before pulling back.

Analysts at Wilsons have recently named CSL as one of four “defensive growth” shares to buy in turbulent times.

In a memo to clients, Wilsons recommended it was “sensible” to have an above-average allocation to defensives including CSL:

Our picks are healthcare, insurance and telco.

Sectors like healthcare and consumer staples, along with utilities, have performed well against a backdrop of higher uncertainty around the US Fed’s and RBA’s hiking expectations and the impact this will have on the economy.

Wilsons also recommended Insurance Australia Group Ltd (ASX: IAG), Telstra Corporation Ltd (ASX: TLS) and Healthco Healthcare and Wellness REIT (ASX: HCW).

Meanwhile, Macquarie has also recently named CSL as a share to buy during market volatility. My Foolish colleague Brendon reported that CSL is considered by Macquarie to be a COVID-recovery share.

Share price snapshot

The CSL share price has fallen nearly 2% in the past 12 months while it has descended 7% year-to-date.

In comparison, the benchmark ASX 200 has returned less than 1% over the past year.

CSL has a market capitalisation of nearly $130 billion based on today’s share price.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in 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 Scott Phillips.

More on Healthcare Shares

A scientist in a white coat and glasses puts her arms in the air in a sign of strength and success.
Healthcare Shares

Why this broker is tipping ‘strength in the CSL share price’

A leading broker is feeling positive about the CSL share price...

Read more »

An ASX shares broker analysing a chart tracking the A2 Milk share price
Healthcare Shares

Why Goldman Sachs sees 13% upside for the ResMed share price

Here's why ResMed shares could be in the buy zone...

Read more »

private health insurance diagram.
Healthcare Shares

Goldman names 2 ASX healthcare shares to buy

Here are two healthcare shares that are rated highly...

Read more »

Two happy scientists analysing test results.
Healthcare Shares

Why did the CSL share price beat the ASX 200 on Wednesday?

Why did CSL shares outperform the benchmark ASX 200 index today?

Read more »

Boy in business suit smiles with arms crossed and rockets attached to his back representing the rocketing BrainChip share price
Healthcare Shares

Why did the Race Oncology share price rocket 10% today?

Investors view Race Oncology's latest release in a positive light.

Read more »

A health professional wearing a stethoscope and scrubs shrugs with uncertainty.
Healthcare Shares

How have Polynovo shares been performing since leaving the ASX 200?

The medical device company's shares can't seem to catch a break this week.

Read more »

Scientists in a laboratory look at a computer screen with anticipation on their faces representing positive results released by ASX biotech Recce Pharmaceuticals which have boosted its share price today
Healthcare Shares

‘The largest unmet medical need in human health’: Why this ASX biotech share is surging 28% today

Recce shares are flying high in Tuesday trade.

Read more »

a woman leans forward with her hand behind her ear, as if trying to hear information.
Healthcare Shares

Down 20% in a year, is the Cochlear share price a bargain buy?

Investors need to hear this: Some brokers think Cochlear is an opportunity.

Read more »