S&P/ASX 200 Index (ASX: XJO) healthcare shares are down 1.1% on Tuesday and down 36% over the past 12 months.
The healthcare sector continues to battle significant headwinds, including a weaker US dollar, US tariffs, and higher labour costs.
Experts say the sector rout provides an opportunity to pick up high-quality ASX healthcare shares at a good price.
On The Bull this week, three experts explain their buy ratings on three ASX healthcare shares.
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Sigma Healthcare Ltd (ASX: SIG)
The Sigma Healthcare share price is $2.75, down 0.9% today and down 11% over the past six months.
Sigma Healthcare shares hit a record $3.28 apiece in June 2025 after the completion of the Chemist Warehouse merger in February.
The ASX healthcare has tumbled 16% from its historical peak, and Morgans analyst Damien Nguyen says it's now a buy.
He explains why:
SIG is a leading wholesale distributor and retail pharmacy franchisor with operations in Australia, New Zealand, Ireland and the United Arab Emirates.
It has a solid balance sheet with conservative leverage and strong operating cash flows.
We believe SIG can continue to widen margins through expanding labels it owns and exclusive products.
We expect improving operating leverage through efficiencies in the supply chain and consolidation in distribution centres.
A softer share price provides a compelling buying opportunity for long term focused investors.
Polynovo Ltd (ASX: PNV)
The Polynovo share price is steady at $1 on Tuesday, but the stock has lost 29% of its value over the past six months.
Polynovo shares are well off their 52-week high of $1.72 set in May last year.
Stuart Bromley from Medallion Financial Group has a buy rating on this ASX healthcare share.
Bromley said:
The company provides dermal regeneration solutions via its NovoSorb biodegradable polymer technology.
The company's skin repair product continues to grow revenues. Group sales of NovoSorb were up 26 per cent in the first half of fiscal year 2026 when compared to the prior corresponding period. US sales were up 25.3 per cent.
The company has the capacity and product offerings to comfortably meet growing demand.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is $138.01, down 0.8% today and down 51% over the past six months.
Pro Medicus designs and distributes medical imaging software and services to healthcare providers around the world.
The Pro Medicus share price hit a record of $336 last July following an extraordinary two-year run.
The ASX healthcare share has since fallen by almost 60%, prompting a buy rating from Bromley.
He said:
The share price is down significantly in the past year on fears of artificial intelligence impacting the business.
But the company continues winning large and long term contracts. PME recently renewed a five-year, $37 million contract with Northwestern Medicine based in Chicago. The renewal comes with increased minimums and a higher fee per transaction.
In our view, PME presents a rare chance to buy a world class software play at a significant discount.
