Here's how the ASX 200 market sectors stacked up last week

ASX healthcare shares were strongest among the 11 market sectors last week.

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ASX 200 healthcare shares led the market sectors with a 2.6% gain in value over the four trading days.

The S&P/ASX 200 Index (ASX: XJO) gained 0.35% over the week to finish at 7,575.9 points on Friday.

Only three of the 11 market sectors finished the week in the green.

Let's recap the week's events.

Healthcare shares led the ASX sectors last week

Among the healthcare sector heavyweights, Resmed CDI (ASX: RMD) shares gained an impressive 12.38% to close at $31.50 on Friday.

This followed the release of the company's third-quarter update on Friday.

Resmed reported a 7% increase in revenue to US$1.2 billion for the three months ending 31 March, driven by increased demand for sleep devices and strong growth across its mask product portfolio.

Gross margins improved by 260 basis points to 57.9% on a GAAP basis and 240 basis points to 58.5% on a non-GAAP basis. This was ahead of consensus estimates of 57.6%.

Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) shares gained 2.99% over the week to close at $25.22. There was no price-sensitive news from the company last week.

Sector leader CSL Ltd (ASX: CSL) gained 1.51% to finish the week at $273.30. This ASX 200 healthcare stalwart continues to struggle despite the backing of many brokers for long-term share price growth.

Over the past 12 months, CSL shares have underperformed the S&P/ASX 200 Health Care Index (ASX: XHJ). CSL shares have fallen in value by 10.1% while the sector has lost 6.6%.

Morgans has an add rating and a 12-month share price target of $315.40 on CSL shares.

Macquarie recently upgraded its rating on CSL to outperform with an improved price target of $330. The bank's analysts reckon the CSL share price could go beyond $500 within three years.

Among the other big healthcare stocks, the Cochlear Ltd (ASX: COH) share price rose 1.76% to finish the week at $320.77. Meanwhile, the Sonic Healthcare Ltd (ASX: SHL) share price gained 0.65% to close at $26.34.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

S&P/ASX 200 market sectorChange last week
Healthcare (ASX: XHJ) 2.6%
Consumer Staples (ASX: XSJ) 1.07%
Information Technology (ASX: XIJ)0.94%
Utilities (ASX: XUJ)(0.06%)
Financials (ASX: XFJ)(0.32%)
A-REIT (ASX: XPJ) (0.5%)
Communication (ASX: XTJ)(0.93%)
Consumer Discretionary (ASX: XDJ)(1.22%)
Materials (ASX: XMJ) (1.77%)
Industrials (ASX: XNJ) (2.59%)
Energy (ASX: XEJ)(3.11%)

Motley Fool contributor Bronwyn Allen has positions in CSL and Macquarie Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Cochlear, Macquarie Group, and ResMed. The Motley Fool Australia has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has recommended CSL, Cochlear, and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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