The CSL Ltd (ASX: CSL) share price is down 1.6% to $210.04, while the S&P/ASX 200 Index (ASX: XJO) is down 0.4% to 8,814.5 points at the time of writing.
So, what's going on with the market's largest healthcare share on Tuesday?
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Why is the CSL share price in the red?
There is no price-sensitive news out of CSL this morning, so it's safe to say the stock is falling simply because it's gone ex-dividend.
It's normal for an ASX share to fall on its ex-dividend date because it's no longer trading with the next dividend entitlement attached.
With the official earnings season now over, CSL is one of more than 35 ASX shares going ex-dividend this week.
Here's what CSL will pay.
What is the CSL dividend?
CSL shares will pay a final unfranked dividend of US$1.62, or about AU$2.46 per share, on 3 October.
The CSL share price was smashed after the company released its FY25 report on 19 August.
The stock fell almost 20% to a six-year low within two days.
The CSL share price was among the biggest fallers post-results during earnings season.
CSL reported a 5% revenue rise to US$15.6 billion and a 17% increase in net profit after tax (NPAT) to US$3 billion for FY25.
Investors were rattled by CSL management's wide-ranging strategy to restructure the business.
This included the surprise demerger of the Seqirus vaccines division. It will be listed as a separate entity on the ASX in FY26.
Some investors have lost faith in CSL as it deals with multiple headwinds, particularly in terms of research and development (R&D).
The failure of the CSL112 heart drug during trials, falling vaccine rates post-COVID, weakness in the Behring blood plasma business, and lacklustre results from Vifor, the nephrology business acquired for US$11.7 billion in 2021, have all had an impact.
Multi-year share buyback program
CSL was among a bunch of companies that announced new share buyback programs last month.
The biotech announced a multi-year buyback program that will target AU$750 million in FY26.
The buyback began last Thursday.
According to yesterday's buyback update, CSL has already repurchased almost 400,000 shares.
CSL is getting good value for money considering the recent share price spiral.
CSL is now among 10 ASX 200 shares trading on a forward price-to-earnings ratio below the market average.
According to a major broker's data, CSL shares are now trading on a forward price-to-earnings (P/E) ratio of 19.1x.
The current market average is 20.1x.
The CSL share price is also trading at a whopping 2.3 standard deviations lower than its historical norm.
ASX 200 healthcare share snapshot
The CSL share price has lost 30% of its value over the past 12 months.
Here are 5 experts who think this long-standing ASX 200 blue-chip share is now a buy.
