Three ASX healthcare giants have endured a very rough 12 months.
At the time of writing:
- CSL Ltd (ASX: CSL) are down almost 46%
- Pro Medicus Ltd (ASX: PME) have fallen 55.72%
- Cochlear Ltd (ASX: COH).
These results have all contributed significantly to the softness of the broader ASX healthcare sector.
The S&P/ASX 200 Health Care Index (ASX: XHJ) is down approximately 33% in the last 12 months.
For context, the S&P/ASX 200 Index (ASX: XJO) is up 9.3% in that same span.
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What are brokers saying about these healthcare stocks?
These three companies are amongst the largest healthcare stocks by market cap.
This means it could be an opportunity to buy low, with long-term upside.
Let's see if there is any upside according to experts.
CSL
In February, CSL reported total revenue of US$8.3 billion, down 4% while net profit fell 7% to $1.9 billion.
Messaging from management indicated this was a disappointing result, and investors seemed to agree.
Sentiment around this healthcare giant seems to be mixed.
The team at Fairmont Equities recently put a sell recommendation on CSL shares.
Ord Minnett has a hold rating and $198.00 price tag.
Meanwhile, UBS has a price target of $235 on CSL shares.
CSL shares closed at $142.86 yesterday.
Pro Medicus
Pro Medicus was amongst the worst performing ASX 200 stocks during February.
It's worth noting on the positive side however, is that three of the company's directors have increased their existing stake by purchasing additional Pro Medicus shares.
This can be a sign of confidence from management, which can positively influence investor sentiment.
It now sits almost 48% lower than the start of 2026.
The company appears to be another victim of AI disruption fears.
Pro Medicus closed trading yesterday at $116.19.
However, 13 analysts ratings via TradingView place have an average 12 month target of $220.75.
That's almost 90% upside from current levels.
Cochlear
Cochlear shares have also endured a rough year, particularly post earnings.
It was dumped on results day on 17 February after missing expectations.
The response from Morgans was a hold recommendation and 12-month share price target on Cochlear of $214.93.
The broker said the 1H26 result was softer than expected, with revenue, margins and profit negatively impacted mainly on longer than anticipated contracting for the newly launched Nucleus Nexa system (Nexa).
This target is approximately 15.66% higher than yesterday's closing price of $185.83.
The 15 analyst offering one year forecasts via TradingView have an average price target of $255.59 on Cochlear shares.
That would be approximately 37% upside.
