Meanwhile, on The Bull, three experts give us their views on three ASX All Ords shares.

Let's check them out. 

Saluda Medical Inc (ASX: SLD)

The Saluda Medical share price is 40 cents, down 3.7% today and down 69% over 12 months. 

Stuart Bromley from Medallion Financial Group has a buy call on this ASX All Ords healthcare share. 

Bromley said: 

Saluda makes the Evoke spinal cord stimulator, which automatically adjusts pain therapy in real time.

Results in full year 2026 were strong, in our view. Revenue of $US90.2 million was up 28 per cent on the prior corresponding period and ahead of upgraded guidance. US patient implants increased by 50 per cent in the fourth quarter of 2026.

With its newly approved CAP24 surgical paddle lead expanding the addressable US market by about 30 per cent, we believe SLD presents as an attractive buying opportunity for investors comfortable with potential share price volatility and risk.

Generation Development Group Ltd (ASX: GDG)

The Generation Development share price is $3.12, down 2.5% today and down 51% over 12 months. 

Bromley has a hold rating on this ASX 200 financial share.  

He said: 

GDG operates a portfolio of growing financial services businesses, including Generation Life, Evidentia Group and Lonsec.

Total revenue of $178.7 million in full year 2026 was up 23 per cent on the prior corresponding period.

Underlying net profit after tax of $40.7 million grew 21 per cent, supported by growth of 37 per cent in funds under management and record group net inflows of $9.7 billion.

We believe GDG's longer term growth opportunity remains intact.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price is $3.04, down 2.3% today and up 9% over 12 months. 

Mark Elzayed from Vestra Capital has a sell rating on this ASX 200 industrials share. 

Elzayed said: 

The return to profitability reflected a combination of cost reductions, portfolio simplification, property sale gains and an improved performance across several core manufacturing businesses, rather than a broad based recovery in underlying construction demand.

Revenue of $NZ5.994 billion from continuing operations increased 7.3 per cent in full year 2026 when compared to the prior corresponding period.

Total net earnings attributable to shareholders reached $NZ228 million, compared to a loss of $NZ419 million in the prior year.

The return to profitability improves the balance sheet and reduces financial risk. But, in my view, a continuing recovery remains heavily dependent on building markets returning to normal in what I consider a most challenging underlying environment.

The post Buy, hold, sell: Generation Development, Fletcher Building, Saluda Medical shares appeared first on The Motley Fool Australia.

The struggling companies in question are commercial-stage medical device company Saluda Medical Inc (ASX: SLD) and health imaging company Pro Medicus Ltd (ASX: PME).

In morning trade on Wednesday, Pro Medicus shares are changing hands for $168.79 apiece. That's down 0.5% today, and it sees the Pro Medicus share price down 24.2% since 2 January.

Saluda Medical, which listed on the ASX on 5 December, has had an even tougher year of it.

At time of writing, Saluda Medical shares are trading for 41 cents each. That's flat for the day, but it still sees this ASX All Ords healthcare share down a painful 71.7% year to date.

Looking ahead, however, Medallion Financial Group's Stuart Bromley believes both ASX All Ords healthcare shares are well-placed to rebound in the months ahead (courtesy of The Bull).

Here's why.

ASX All Ords healthcare share increasing revenue

Turning to Saluda Medical first, Bromley said, "Saluda makes the Evoke spinal cord stimulator, which automatically adjusts pain therapy in real time."

And he was impressed with Saluda's FY 2026 results.

Bromley noted:

Results in full year 2026 were strong, in our view.

Revenue of $US90.2 million was up 28 per cent on the prior corresponding period and ahead of upgraded guidance. US patient implants increased by 50 per cent in the fourth quarter of 2026.

Summarising his buy recommendation on the ASX healthcare stock, he concluded:

With its newly approved CAP24 surgical paddle lead expanding the addressable US market by about 30 per cent, we believe SLD presents as an attractive buying opportunity for investors comfortable with potential share price volatility and risk.

Which brings us to…

Pro Medicus shares trading at 'attractive' levels

Bromley also had a bullish take on Pro Medicus shares.

"Pro Medicus is a global leader in medical imaging software, with its Visage platform increasingly adopted by major US hospital networks," he said.

Summarising his buy recommendation on the ASX All Ords healthcare share, Bromley concluded:

Revenue of $261.7 million in full year 2026 rose 22.9 per cent on the prior corresponding period. Underlying net profit after tax of $144.7 million was up 24.1 per cent. Revenue and underlying net profit exceeded expectations, while the underlying earnings before interest and tax margin reached an exceptional 74.9 per cent.

It signed 10 new contacts worth $407 million in full year 2026. It renewed six contracts on five-year terms to the value of $141 million. Recent share price weakness provides an attractive entry point into a high-quality growth business.

The post Expert names 2 beaten-down ASX All Ords healthcare shares to buy today appeared first on The Motley Fool Australia.

The growth stock is a commercial-stage medical device company. It is focused on developing treatments for chronic neurological conditions using its novel neuromodulation platform. 

The company's first product, the Evoke System, is indicated as an aid in the management of chronic intractable pain of the trunk and/or limbs, including unilateral or bilateral pain associated with failed back surgery syndrome, intractable low back pain, and leg pain, and is designed to treat chronic neuropathic pain by providing spinal cord stimulation (SCS) therapy.

It hasn't been smooth sailing for this ASX healthcare stock in recent times. Its share price has tumbled 71% year to date. 

However, Morgans sees major upside over the next 12 months. 

Here's the latest from the broker. 

Solid FY26 for ASX healthcare stock

In a note out of Morgans this week, the broker said FY26 finished strong and mostly ahead of prospectus, but the more important development is showing greater visibility on the path to operating leverage. 

FY27 guidance calls for 25% to 35% revenue growth, 50% to 52% gross margin, and a US$95 to $101 million adjusted EBITDA loss, with management expecting 90% of incremental gross profit to translate into adjusted EBITDA improvement. 

Salesforce maturation is key, with 161 US reps at FY26 year-end, 55% fully trained and the majority of the remaining cohort expected to come online in 1HFY27. Growth looks set to come from higher productivity rather than simply adding headcount, with c30% of territories operating below a 40% fully loaded rep-cost/revenue threshold, providing evidence that the territory economics can work. 

We see FY27 as the first meaningful test of the model's scalability, with higher physician utilisation, maturing territories and the CAP24 paddle lead providing potential upside to guidance. We adjust FY27-28 forecasts, with our DCF-based target price moving to A$2.17 (from A$2.94). SPECULATIVE BUY maintained.

This ASX healthcare stock closed trading yesterday at just over 41 cents per share. 

The target from Morgans indicates an upside potential of 422%. 

Other brokers also bullish

Morgans isn't alone in its outlook for this ASX healthcare stock. 

The team at Bell Potter recently updated their price target to $1.60. 

This indicates an upside of over 285%. 

Speaking on the lofty target, the broker said: 

SLD's US commercial execution continues to impress and accelerated considerably in recent quarters (34% US growth in Q3, 45% in Q4). Tailwinds continue to build following FDA approval of SLD's paddle lead in June and ~40% of the current sales force expected to complete training in FY27 and contribute to revenue generation. Real-world data continues to affirm Evoke's value proposition: greater efficacy durability means fewer reprogramming requirements and therefore greater revenue/rep compared to conventional devices.

The post Could this ASX healthcare stock really be set to rise 400%? Morgans thinks so  appeared first on The Motley Fool Australia.

The ASX healthcare share ended the week with a 25% decline to 48 cents after the market responded negatively to its FY 2026 results.

While this is disappointing, the team at Bell Potter believes it could have created a very attractive buying opportunity.

What is the broker saying?

Saluda Medical is a medical device company commercialising spinal cord stimulation (SCS) therapy. 

Bell Potter notes the ASX healthcare share reported higher than expected operating expenses in FY 2026, which resulted in a sizeable adjusted EBITDA loss. It said:

Revenue was pre-released at the Q4 update, increasing +28% for the full year with a particularly strong 2H (up +38% on pcp). Gross margin of 48.9% was ahead of our forecast (48.5%) and improved +2.3% yoy. Opex was above our forecast, resulting in loss at EBITDA (adjusted) of -$113.7m albeit still coming better than Prospectus guidance of -$114.7m.

However, there were positives. It adds:

In SLD's first full-year result since listing, management has beaten each key metric guided to at the time of the IPO (revenue, EBITDA loss, cashflow). Closing cash balance was $116m and excludes $25m of undrawn debt available under the Perceptive loan available to be drawn down in 1H FY27.

Looking ahead, Bell Potter points out that management is guiding to more strong top line growth and another EBITDA loss. It adds:

The company provided four key FY27 guidance statements: (1) revenue growth of 25-35% ($113m-122m); (2) gross margin 50%-52% while reiterating the longer-term target of 'mid-60s' once the next generation IPG and percutaneous leads are submitted to and approved by the FDA (launch guided to CY27); (3) adjusted EBITDA loss $101-95m; and (4) revenue growth to outpace opex growth. 

Big potential returns

Bell Potter remains very positive on the ASX healthcare share.

In response to its results, the broker has retained its buy rating and $1.60 price target on its shares.

Based on its current share price, this implies potential upside of approximately 230% for investors over the next 12 months.

Speaking about its buy thesis, Bell Potter said:

SLD's US commercial execution continues to impress and accelerated considerably in recent quarters (34% US growth in Q3, 45% in Q4). Tailwinds continue to build following FDA approval of SLD's paddle lead in June and ~40% of the current sales force expected to complete training in FY27 and contribute to revenue generation. Real-world data continues to affirm Evoke's value proposition: greater efficacy durability means fewer reprogramming requirements and therefore greater revenue/rep compared to conventional devices.

The post Bell Potter says this ASX healthcare share could rise 200%+ appeared first on The Motley Fool Australia.

Meanwhile on The Bull this week, two experts give us their views on three ASX All Ords shares.

Let's check them out. 

Saluda Medical Inc (ASX: SLD)

The Saluda Medical share price is 40 cents, down 7% today and down 69% over 12 months. 

Philippe Bui from Medallion Financial Group has a buy call on this ASX All Ords healthcare share. 

Bui said: 

Saluda is a clinical stage medical device company. It makes the Evoke spinal cord stimulator — the only closed loop device that automatically adjusts pain therapy in real time.

Clinical results are strong, with 90 per cent of patients preferring it to traditional systems.

The recent FDA approval of the CAP24 surgical paddle lead meaningfully expands the addressable market by 30 per cent.

A commercial roll-out of CAP24 is expected later this year, adding a new revenue channel through surgical implants.

Guidance has been upgraded twice since listing in December 2025, and the valuation is compelling at current levels, in our view.

Tasmea Ltd (ASX: TEA)

The Tasmea share price is $8.13, down 1% today and up 120% over 12 months.

Tasmea is a specialised services company that provides maintenance, engineering, operations, and project services.

The company operates in the mining, oil and gas, waste and water, power and renewable energy, and defence industries.

Bui has a hold rating on this ASX All Ords industrials share, and explained:

First half underlying revenue in fiscal year 2026 grew by 31 per cent to $323.1 million and underlying earnings before interest and tax was up 36 per cent to $44.3 million.

The fully franked interim dividend of 6 cents a share was up 20 per cent.

The recent acquisition of JPS Group adds exposure to LNG and energy infrastructure.

With full year guidance reaffirmed, earnings visibility is high.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine Estates share price is $5.03, down 0.4% today and down 35% over 12 months.

Toby Grimm from Baker Young has a hold rating on this ASX 200 wine share. 

Grimm said:

Adverse category trends in the United States and China impacted this global wine company.

Cyclically, it's too early to call a bottom in wine sales and margins, but new management has announced significant steps to improve supply chain flexibility amid reducing exposure to commercial wine.

We envisage a recovery from here. However, the new strategy carries execution risk and potentially limits earnings in good times.

But, if successful, it should improve profitability if wine industry dynamics don't recover as rapidly as hoped.

The post Buy, hold, sell: Saluda Medical, Tasmea, Treasury Wine Estates shares appeared first on The Motley Fool Australia.

Meanwhile, on The Bull, two experts share their insights on three ASX shares. 

Let's review. 

Bannerman Energy Ltd (ASX: BMN)

The Bannerman Energy share price is $3.22, down 0.9% today and down 2.4% over 12 months. 

Michael Gable from Fairmont Equities has a buy rating on this ASX energy share. 

Gable said: 

This uranium development company's flagship Etango project is based in Namibia. We believe the uranium sector presents a bright outlook as we expect demand to outpace supply for the next several years.

Despite BMN de-risking its main resource by announcing a joint venture with the China National Nuclear Corporation, the share price has retreated along with many other stocks in the market.

In our view, this presents a buying opportunity as BMN should be leveraged to any upside in the uranium price.

Saluda Medical Inc (ASX: SLD)

The Saluda Medical share price is steady at 48 cents on Thursday, and down 62% over 12 months. 

Stuart Bromley from Medallion Financial Group has a hold rating on this ASX healthcare share. 

Bromley said: 

SLD is a commercial stage medical device company targeting the global chronic pain market with its Evoke spinal cord stimulation platform.

While commercial execution and adoption remain key milestones to monitor, we continue to believe the company's differentiated technology and growing clinical evidence base support a favourable long term outlook.

Global revenue grew by 34 per cent in the third quarter of fiscal year 2026 when compared to the prior corresponding period.

The company expects full year revenue growth of 24 per cent on the prior corresponding period.

Bapcor Ltd (ASX: BAP)

The Bapcor share price is 42 cents, down 2.3% today and down 89% over 12 months. 

Bromley has a sell rating on this ASX consumer discretionary share.

He explains: 

Bapcor is an aftermarket automotive parts provider in Australia and New Zealand. It operates the Autobarn, Burson and Autopro brands.

While Bapcor remains a leading participant in its sector, the company continues to face operational challenges, margin pressure and an increasingly difficult consumer environment.

We believe management still has significant work ahead to restore earnings momentum and investor confidence.

Given the availability of alternative opportunities with stronger earnings visibility and growth prospects, we believe capital can be deployed more effectively elsewhere at this time.

The stock has fallen from $5.14 on July 14, 2025 to trade at 40.7 cents on June 25, 2026.

The post Buy, hold, sell: Bannerman Energy, Saluda Medical, Bapcor shares appeared first on The Motley Fool Australia.

The market is cautious as it continues to wait for further news on peace negotiations between the US and Iran.

Among the 11 market sectors, technology shares are in the lead, up 3.3%, while ASX REITs are the laggard, down 1.8%.

Meanwhile on the The Bull this week, two experts give us their views on three ASX 200 shares.

Let's check them out. 

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price is $161.02, down 1.4% today, and down 0.6% in the calendar year to date (YTD).

John Athanasiou from Red Leaf Securities has a hold rating on this ASX 200 bank share this week.

Athanasiou explains:

CBA remains the highest quality franchise in Australian banking, supported by its dominant deposit base, strong digital ecosystem and industry leading profitability.

Earnings remain resilient, but growth is moderating as mortgage competition intensifies and credit expansion normalises.

Credit quality is stable and dividends remain highly reliable, reinforcing its defensive appeal.

However, the key issue is valuation, with the stock trading at a significant premium to domestic and global peers.

Much of the quality and stability is already priced in, leaving limited upside without a material macro or earnings surprise to the upside.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is $78.90, down 1.1% today, and down 3.5% YTD.

Philippe Bui from Medallion Financial Group puts a sell rating on this ASX 200 consumer discretionary share this week.

Bui says:

Wesfarmers is a high quality business, but the outlook is softening, in our view.

A deteriorating consumer environment and sticky inflation are pressuring forward earnings, while Amazon's growing penetration across core retail categories is an intensifying competitive threat that shows no signs of abating.

Saluda Medical Inc (ASX: SLD)

The Saluda Medical share price is 43 cents, up 10.3% on no news today, and down 70% YTD.

Bui has a buy recommendation on this ASX healthcare share, and comments:

Saluda makes the Evoke spinal cord stimulator — the only closed loop device that automatically adjusts pain therapy in real time.

Clinical results are strong, with 90 per cent of patients preferring it to traditional systems.

Global revenue grew by 34 per cent in the third quarter of fiscal year 2026 when compared to the prior corresponding period.

Full year guidance has been upgraded twice since its initial public offering in calendar year 2025.

Given the share price fall since listing in December 2025, the valuation is compelling at current levels, in our view.

With no closed loop offering from competitors, acquisition interest is a real possibility.

The post Buy, hold, sell: Wesfarmers, Saluda Medical, CBA shares appeared first on The Motley Fool Australia.

• Tetratherix Ltd (ASX: TTX) rose 10% 
• SDI Ltd (ASX: SDI) gained 7% 
• Saluda Medical Inc (ASX: SLD) climbed 7%. 

These smaller healthcare companies fall within the high risk category of the stock market. 

These kinds of shares can deliver outsized returns when clinical trials succeed, regulatory approvals are secured, or breakthrough technologies gain commercial traction. 

However, these companies also carry significant risk due to limited revenue, funding dependence, and the potential for sharp share price declines if research outcomes or market expectations disappoint.

Let's see what was prompting the big gains yesterday and if experts are tipping further upside. 

Tetratherix continues to climb 

Tetratherix develops a biostealth fluid matrix for regenerative medicine. The firm offers Tetramatrix as its primary product.

It has been one of the hottest ASX healthcare stocks in 2026, rising 68% since the start of the year. 

The company's recent quarterly report highlighted progress toward commercialising its Tegenix product via a global agreement with Henry Schein and expanding into precision medicine with its STEPP drug-delivery platform, including a lucrative R&D deal.

This prompted a speculative buy rating from Morgans along with an updated price target of $6.84. 

From yesterday's closing price of $5.55, this indicates a further 23% upside. 

SDI scheme approved by ASIC

Yesterday, SDI rose over 7% after a key company announcement. 

According to the release, it is being acquired by a Chinese-backed buyer group for A$1.40 cash per share through a court-supervised process called a scheme of arrangement. 

The Supreme Court of New South Wales has approved SDI holding a shareholder vote and sending shareholders the official Scheme Booklet explaining the deal and including an independent expert's report. 

Shareholders will now review the documents and vote on whether to approve the takeover, which still requires final shareholder and court approval before completion.

At the time of writing, this ASX healthcare stock is trading for roughly $1.34 per share, meaning the offering is 4.5% higher than the current price. 

Saluda Medical shows signs of life 

Saluda Medical shares also jumped 7% yesterday. 

This was positive news for investors, especially given the stock has fallen more than 65% in 2026. 

Saluda Medical is a commercial-stage medical device company commercialising spinal cord stimulation (SCS) therapy. Saluda is currently a single product company, centred around its differentiated SCS product called the 'Evoke System'. 

It looks like this rise could be a sign of what's to come. 

Bell Potter recently placed a speculative buy recommendation and $2.00 price target on this ASX healthcare stock. 

This implies 300% upside from current levels. 

The broker is optimistic thanks to its considerable commercial traction. 

The post Are these rocketing ASX healthcare shares a must buy? appeared first on The Motley Fool Australia.

Many small-cap companies experience significant volatility because of limited liquidity, narrower customer bases, and greater sensitivity to market sentiment and economic changes.

However when one receives broker estimates of more than 300% upside potential, it's worth taking note. 

That's exactly the case for ASX small-cap stock Saluda Medical Inc (ASX: SLD). 

Company overview

Saluda Medical is a commercial-stage medical device company commercialising spinal cord stimulation (SCS) therapy. Saluda is currently a single product company, centred around its differentiated SCS product called the 'Evoke System'. 

The company has been commercialising the Evoke System for roughly three years in the US, and approximately five years in Europe and Australia, for the treatment of patients with chronic pain of the trunk and/or limbs.

ASX small-cap healthcare stocks such as Saluda Medical can have high upside because successful clinical results, regulatory approvals, or commercial partnerships can rapidly increase their valuation from a low base. 

They are also more volatile because they often rely on future growth expectations, limited funding, and investor sentiment rather than stable earnings.

While the optimism around this small-cap is exciting, its 66% year to date share price decline illustrates this volatility.

Bell Potter optimistic on market share

In the latest report from Bell Potter, the broker said the US spinal cord stimulator market is worth about US$2.3 billion and is growing steadily. 

A major industry shift is toward "closed-loop" technology, which automatically adjusts stimulation levels, and Bell Potter believes this is becoming the new standard.

Although competitors already have a closed-loop product, Bell Potter believes Saluda's technology is stronger and helping it grow quickly in the US market. 

Saluda's recent growth rates have significantly outpaced the broader industry, leading Bell Potter to view the company as an emerging disruptor and a possible takeover target for larger competitors seeking faster growth.

A natural conclusion is competitors without closed-loop technology risk being left behind, and with the best available offering and little evidence of others developing their own, SLD is emerging as a formidable disruptor.

More than 300% potential upside

Based on this guidance, Bell Potter has retained its speculative buy recommendation and $2.00 price target on this ASX small-cap. 

From last week's closing price of 48 cents, this indicates an upside potential of 316%. 

SLD is gaining considerable commercial traction, and with >150 US sales reps now on board, there's little reason to expect any slowdown in the quarters ahead.

The post Meet the ASX small-cap healthcare company which could triple this year appeared first on The Motley Fool Australia.

Two ASX healthcare shares that just received fresh guidance from the team at Morgans are Epiminder Ltd (ASX: EPI) and Saluda Medical Inc (ASX: SLD). 

Both of these ASX healthcare shares have fallen significantly in 2026, down between 48% and 60%. 

However, the team at Morgans is anticipating a bounce back for both. 

Here is what the broker had to say. 

Epiminder

Epiminder develops the Minder system, a technology currently under evaluation that aims to improve epilepsy treatment by continuously recording brain activity data to reveal previously unseen epileptic episodes.

In 2026, the ASX healthcare stock has fallen nearly 50%. 

However, following its recent quarterly activities report, the team at Morgans has reiterated its speculative buy recommendation. 

The broker said momentum is building, with 3QFY26 activity highlighting improving execution. Morgans also highlighted DETECT enrolment and site activation are now gaining traction following a slow start.

Since 1HFY26, EPI has expanded to 18 Tier-1 US centres and increased enrolled patients to 15 (from 3 in February), remaining on track to reach 25 this month. Cash burn was lower than expected, reflecting timing of site invoicing, while runway remains intact through CY28. We adjusted FY26-28 forecasts and lowered our DCF-based target price to A$2.23 mainly on risk-free rate adjustment.

Yesterday, Epiminder shares closed trading at 54 cents per share. 

From this price, the updated target from Morgans indicates an upside potential of more than 300%. 

Saluda Medical

Saluda Medical is an ASX healthcare commercial-stage medical device company focused on developing treatments for chronic neurological conditions using its novel neuromodulation platform.

Its share price is down nearly 60% year to date. 

However, a fresh price target from Morgans indicates this could rebound significantly.  

The company also released a quarterly report last week.

Morgans said the 3QFY26 activity continued to build on strong 1H performance, with accelerating US commercial momentum underpinning another revenue upgrade. 

The broker highlighted revenue growth of 13% quarter on quarter to US$23.8m (+34% year over year), supported by strong growth in implanted patients (+55% year over year), active physicians, and utilisation. 

We view the second consecutive guidance upgrade (now US$87m, +24% YoY) as evidence of improving visibility, with salesforce scaling and physician productivity continuing to trend ahead of expectations. We update FY26 forecasts in line with guidance, with our DCF-based target price lowered to A$2.94, mainly on FX and risk-free rate adjustments. SPECULATIVE BUY maintained.

This updated price target of $2.94 indicates an upside potential of 400%. 

The post Two ASX healthcare shares that could triple in the next year appeared first on The Motley Fool Australia.

More than 400 companies in the ASX All Ords fell yesterday, with some hitting new 52-week lows.

Brokers say these ASX All Ords shares are good buys in today's market.

Here are their 12-month share price targets on each stock.

Objective Corporation Ltd (ASX: OCL)

The Objective Corporation share price fell to a 52-week low of $11.68 on Thursday.

The ASX All Ords tech share is down 29% in the year to date (YTD), and down 22% over the past 12 months.

Following the stock's recent fall, Morgans upgraded its rating from accumulate to buy.

However, the broker reduced its 12-month price target from $20 to $16.70.

Morgans said:

We see tailwinds remaining supportive of OCL's long-term growth momentum.

Generation Development Group Ltd (ASX: GDG)

The Generation Development Group share price fell to a 52-week low of $3.71 yesterday.

The ASX All Ords financial share is down 35% YTD, and down 21% over the past 12 months.

Morgans recently retained its buy rating but reduced its 12-month price target from $7.97 to $6.66.

The broker said:

We believe GDG has a great story, and management has executed well over time.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo Interactive share price dropped to a 52-week trough of $7.66 yesterday.

This ASX All Ords gaming share has fallen 32% YTD, and is down 25% over the past 12 months.

Jarden has a buy rating on Jumbo Interactive shares with a price target of $12.70.

Cleanaway Waste Management Ltd (ASX: CWY)

The Cleanaway Waste Management share price fell to a 52-week low of $2.31 on Thursday.

The ASX All Ords industrials share has fallen 11% YTD, and dropped 9% over 12 months.

Morgans has a buy rating with a 12-month price target of $3.11.

The broker commented:

1H26 was a mixed bag, with a minor bottom-of-the-range EBIT guidance upgrade.

Next catalyst is the investor strategy day planned for 21 April.

Earnings forecast adjustments are minimal, cashflow downgrades more material.

Sonic Healthcare Ltd (ASX: SHL)

The Sonic Healthcare share price fell to a 52-week low of $20.50 on Thursday.

The ASX All Ords healthcare share has deteriorated 8% YTD and 20% over the past year.

Macquarie has an outperform rating on Sonic Healthcare with a price target of $27.50.

Saluda Medical Inc (ASX: SLD)

Fellow ASX All Ords healthcare share, Saluda Medical, dropped to a 52-week low of 80 cents yesterday.

The Saluda Medical share price has tumbled 42% YTD, and is down 35% over 12 months.

Morgans has a speculative buy rating with a 12-month price target of $3.07.

The broker said:

1H26 showed solid revenue momentum, improving margins, and continued expansion of the US sales force, supporting confidence in a stronger 2H.

Reiteration of FY26 revenue guidance (US$85m) added further comfort and now expects to exceed IPO metrics for gross margin, adjusted EBITDA and cash burn.

The post 6 ASX All Ords shares at 52-week lows: Experts say buy appeared first on The Motley Fool Australia.

So far in 2026, its share price is down 24%. 

However it appears the tide could be turning after the company posted its H1FY26 result yesterday. 

The stock price soared 9.6% higher following the release. 

Here's what the company reported. 

H1 FY26 Results

Saluda Medical Inc is a commercial-stage medical device company focused on developing treatments for chronic neurological conditions using its novel neuromodulation platform. 

It is currently a single-product company, centred around its differentiated SCS product called the 'Evoke System'. 

Yesterday the ASX healthcare stock reported: 

• International revenue of US$11.0 million (+27% vs pcp)
• Acceleration in global revenue growth (+ 17% vs prior corresponding period (pcp) to US$39.4 million), driven by increase in US trained sales reps and active physicians
• US implanted patient growth of 17% vs pcp, driven by an increase in active implanting physicians. 

Commenting on the release, Saluda's Chief Executive Officer, Barry Regan, said: 

We are pleased with the momentum within the first six months of FY26. We saw continued growth in the active implanting physician base and remain confident in our ability to build the size and quality of our sales force as planned heading into the new calendar year. 

Our team continues to be focused on execution and driving the organisation in line with our growth strategy. Our first half performance gave us the confidence to previously increase our FY26 revenue guidance. 

Additionally, we expect to improve on our other key FY26 financial metrics of gross margin, adjusted EBITDA, and cash used in operations. 

Buy recommendation for this ASX healthcare stock

Following the result, the team at Bell Potter reiterated its buy recommendation on the ASX healthcare stock. 

In a report yesterday, the broker said the stock is trading at undemanding multiples of <1x EV/Revenue and ~1.5x Price/Revenue based on its FY27 forecast, with expected growth of +25% in 2H26, mostly driven by the US. 

Management have so far demonstrated strong execution slightly ahead of the plans laid out at the time of the IPO.

Bell Potter has a 12 month price target of $2.70 on this ASX healthcare stock. 

From yesterday's closing price of $1.085, this indicates a potential upside of 148.8%. 

Bell Potter isn't the only broker with a positive outlook.

Earlier this month, Morgans put a speculative buy rating and $3.07 price target on its shares.

That indicates a potential upside of 182%. 

The post Is this ASX healthcare stock a buy, hold or sell after jumping 10% on earnings results? appeared first on The Motley Fool Australia.

But which small caps are buys? Let's take a look at three that Morgans is recommending to clients:

Meeka Metals Ltd (ASX: MEK)

This gold miner could be a small-cap ASX share to buy according to Morgans. In response to the company's quarterly update, the broker has retained their buy rating and 33 cents price target on its shares.

It was relatively pleased with the miner's performance during the quarter. It said:

MEK delivered its 2Q26 operating result as the Murchison Gold Project continues to ramp up. Gold production increased 28% quarter on quarter to 9.1koz Au and was in-line with MorgansF of 9.3koz Au. Ounce production was underpinned by a mill head grade of 3.3g/t Au, ~10% above MorgansF assumptions; however, this grade outperformance is partially offsetting lower-than-expected throughput.

Looking ahead, improvements in mill throughput, driven by underground production, remain key to maintaining alignment with PFS forecasts We maintain our BUY rating, price target A$0.33ps and update our precious metals price deck.

Neurizon Therapeutics Ltd (ASX: NUZ)

Another small-cap ASX share that gets a thumbs up from Morgans is Neurizon. It has put a speculative buy rating on its shares with a reduced price target of 28 cents.

The broker believes that with major risks cleared, now is a great time to be jumping on board with this clinical-stage biotech company. This is especially the case given how there is a condensed catalyst runway ahead of it. It said:

Following FDA clearance, the imminent start of the Ph2/3 trial and the removal of the funding overhang providing full visibility through the pivotal program, NUZ now offers one of the cleanest entry points seen in the past 18 months, with major risks cleared and a condensed catalyst runway ahead.

Recent M&A activity underscores the scarcity value of ALS assets and provides a meaningful valuation anchor for NUZ if its clinical program delivers. Post recent capital raises, we update for the new share issuances which drive a reduction in our target price to A$0.28 from A$0.39, although we maintain our Speculative Buy rating, noting the high risk / high reward proposition.

Saluda Medical Inc (ASX: SLD)

This commercial-stage medical device company could also be a small-cap ASX share to buy according to Morgans. It has put a speculative buy rating and $3.07 price target on its shares.

It was pleased with the company's second quarter update and management revenue guidance upgrade for FY 2026. The broker said:

2Q activity report debut did not disappoint, highlighting accelerating US commercial momentum, cost actions to reduce future operating expenses and upgraded FY26 revenue guidance. Revenue growth jumped 15% QoQ, supported by rising implanted patient volumes, and continued expansion of both sales reps and implanting physicians, while cash outflow fell 14% QoQ on a lower fixed cost base supportive of operating leverage.

We believe management's decision to lift FY26 revenue guidance c4% at this early-stage post-IPO reflects improving visibility on sales execution and demand trends, reinforcing confidence in a stronger 2H performance. We update FY26 forecasts in line with guidance, with our DCF-based TP unchanged at A$3.07. SPECULATIVE BUY maintained.

The post Morgans names 3 exciting small cap ASX stocks to buy now appeared first on The Motley Fool Australia.

It is a commercial-stage medical device company commercialising spinal cord stimulation (SCS) therapy. 

Saluda is currently a single product company, centred around its differentiated SCS product called the 'Evoke System'.

It is designed for the treatment of patients with chronic pain of the trunk and/or limbs.

A bumpy ride 

Since initially listing in December last year, this small-cap ASX healthcare stock has experienced volatility.

After opening at $1.27, the company saw its share price rocket 20% higher within the first week of trading. 

However after topping out at $1.54, it has tumbled more than 26%. 

This included a fall of more than 5% yesterday.

It now sits close to an all-time low at $1.13. 

It's important to acknowledge that small-cap stocks can often experience increased volatility. 

First update since December 

Yesterday, the company released its first financial update since its IPO last December. 

The company reported 1H26 revenue of $39.4m (+17% on pcp). 

In a report from Bell Potter yesterday, the broker said the biggest positive was strong Q2 sales of $15.4m in the US (+17% on pcp and +19% qoq) driven by a greater number of physicians utilising the Evoke System. 

International sales are a smaller contribution compared to the key US market but also increased during 1H26 to $11.0m (+26% on pcp).

Bell Potter said this reflected strong execution on commercial targets as the company beat its 1H26 revenue forecast. This resulted in an upgraded FY26 revenue guidance by 4% to $85m. 

Buy recommendation for this ASX healthcare stock

The broker increased FY26 forecasts in line with the updated guidance while leaving FY27 and FY28 effectively unchanged. 

Bell Potter said penetration into the US physician base is deepening and total volumes will benefit from the ongoing expansion and training of Saluda's US sales force, which is proceeding at good pace. 

Updated forecasts imply 2H26 global revenue growth of +25% on the pcp, with the most relevant focus being US sales, which we now expect to reach $34.2m in 2H26 at a growth rate of +37% on the pcp.

The broker has retained its speculative buy recommendation on this ASX healthcare stock and slightly decreased its price target to $2.70 (previously $2.80). 

From yesterday's closing price of $1.13, this indicates an upside of 138.94%. 

We maintain our BUY (speculative) recommendation and look forward to accelerating market share capture of the crucial US market over the coming reporting periods.

The post Is this ASX healthcare stock a buy after yesterday's 5% drop? appeared first on The Motley Fool Australia.

Small-cap stocks may appeal to investors as they can have significant growth potential compared to more established, blue-chip shares.

However it's important to understand they can have significant volatility, as many of these small companies can be pre-profit, relying on funding, clinical trials etc. 

With that being said, here are two that have buy recommendations from the team at Bell Potter. 

Saluda Medical (ASX: SLD)

Saluda Medical is a commercial-stage medical device company commercialising spinal cord stimulation (SCS) therapy globally.

According to yesterday's report, Saluda Medical is currently a single-product company, centred around its differentiated SCS product called the 'Evoke System'. 

The company has been commercialising the Evoke System for ~3 years in the US, and ~5 years in Europe and Australia, for the treatment of patients with chronic pain of the trunk and/or limbs.

Bell Potter has initiated coverage on this small-cap stock with a buy recommendation (speculative) for several key reasons: 

• Saluda's patented closed-loop system delivers more consistent and durable pain relief than conventional devices. In its Phase 3 trial, no patients had devices removed due to lack of efficacy over three years.
• IPO funds will expand the US sales force to >150 reps by FY26, supporting broader geographic coverage, deeper physician adoption, and a paddle lead launch in FY27 targeting neurosurgeons.
• US revenue exceeded US$50m in under three years (~2% of the US$2.2b SCS market). Bell Potter forecasts revenue approaching US$290m by FY29, with US market share rising to ~9%.
• It has an attractive valuation trading at ~1.7x FY26 EV/Revenue (3.0x P/S), a discount to peers (~5x). Successful execution and EBITDA breakeven by FY29 could support meaningful re-rating.

Based on this guidance, Bell Potter has a price target of $2.80 on this ASX small-cap stock. 

That indicates an upside of more than 88% from yesterday's closing price of $1.485. 

American Rare Earths Ltd (ASX: ARR)

American Rare Earths is an Australian exploration company targeting the discovery and development of strategic technology mineral resources in the USA and Australia.

The team at Bell Potter have initiated a buy recommendation (speculative) on this ASX small-cap stock. 

In yesterday's report, the broker said the company is uniquely positioned to capitalise on the US' Strategic focus to reduce reliance on a China dominated rare earth supply chain. 

The Cowboy State Mine offers a long-term solution within the US to decouple from external sources of rare earths, particularly heavy rare earths DyTb.

Essentially, Cowboy State Mine could help the US secure domestic supply of dysprosium and terbium, reducing reliance on China for these critical minerals.

Bell Potter initiated its coverage with a price target of $0.65. 

This indicates an upside of more than 94% from yesterday's closing price of $0.335.

The post Top broker just initiated coverage on two ASX small-cap stocks with a buy recommendation appeared first on The Motley Fool Australia.