CSL Ltd (ASX: CSL) shares are trading at $183.86 on Tuesday, down 0.88% at the time of writing.
It's been a shocker of a year for the CSL share price.
The ASX 200 healthcare giant has lost 34.6% of its market capitalisation in the year to date.
Its share price woes really began in August after the company released its FY25 report.
CSL shares fell almost 20% to a six-year low within two days.
Investors were surprised by the scale of the company's plans to cut costs and restructure the business, including the now delayed demerger of the Seqirus vaccines division.
There was also concern over revenue weakness in the Behring business, disappointing results from the Vifor nephrology business, bought for US$11.7 billion in 2021, and higher competition in the specialty products segment.
Other challenges, particularly in terms of research and development, have also caused issues for CSL over the past few years.
The failure of the CSL112 heart drug candidate in trials, alongside lower global vaccination rates following COVID-era vaccine mandates in many countries — including Australia, where vaccination was required for certain people to return to work — has impacted the business.
The biopharmaceutical giant cut its revenue and profit growth forecasts for FY26, and the shares hit a seven-year low of $168 in October.
We'll find out how the company is tracking in FY26 when it releases its 1H FY26 results in February.
Here are the important dates for CSL investors in the new year.
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Key dates for CSL investors in 2026
CSL will release its 1H FY26 results and announce its interim dividend on 11 February.
The ex-dividend date for the CSL dividend will be 10 March.
The record date will be 11 March and the dividend will be paid on 9 April.
CSL will announce its FY25 full-year results and final dividend on 18 August.
The ex-dividend date for the final dividend will be 9 September.
The record date will be 10 September and CSL will pay investors on 2 October.
CSL will hold its annual general meeting on 27 October.
What do the experts think of CSL shares?
Morgan Stanley has a buy rating on the ASX 200 biotech with a 12-month share price target of $256.
Jarden also has a buy rating with a price target of $283.
Citi also says buy with a price target of $225.
Morgans has a buy rating on CSL shares but reduced its share price target from $293.83 to $249.51 in October.
The broker commented:
Despite the majority of the business "tracking to plan", FY26 cc guidance had been downgraded (2-3% at revenue and NPATA mid-points), mainly reflecting continued declines in US influenza vaccination rates, although Chinese government cost containment affecting albumin demand was also flagged.
Although it remains challenging to know when US influenza vaccination rates will stabilise, we believe the risk of a permanently lower base is being over-priced, with Seqirus and Vifor marked down, with even Behring trading below peers and well under its long-term average, which we see as unjustified.
