Top ASX healthcare stocks to watch in 2026

The ten companies on this list run healthcare businesses that look nothing like each other – plasma therapeutics, hearing implants, private hospitals, pharmacy franchising and medical imaging software are all represented. CSL Limited ($CSL) collects plasma from roughly 325 centres across the U.S., Europe and China to manufacture treatments for rare diseases, Sigma Healthcare Limited ($SIG) franchises the Chemist Warehouse brand and distributes medicines to more than 3,500 Australian pharmacies, and Pro Medicus Limited ($PME) licenses imaging software to hospitals and imaging centres in Australia, North America and Europe.

How we built this list: We selected these companies based on their healthcare products and services business. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in A$ and NZ$. Data updated as of 14 September 2026.

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1. CSL Limited ($CSL)

CSL Limited (CSL) share price over the last year: started at A$204.48, ended at A$171.57, a change of −16.1%. Range over the period: high A$220.70, low A$92.24. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $171.57 · Daily: 2.7% · Market cap: $82.33B · Sector: Healthcare · Industry: Pharmaceuticals

CSL Limited ($CSL) runs three manufacturing and distribution businesses under one roof, each targeting a different area of medicine. The CSL Behring segment makes plasma-derived treatments, recombinant proteins and gene therapies for rare and serious diseases. Feeding that work is a plasma collection network of roughly 325 centres across the U.S., Europe and China. A second segment, CSL Seqirus, handles influenza vaccines and pandemic preparedness services sold directly to governments.

The third arm, CSL Vifor, produces treatments for iron deficiency and kidney disease. Gordon Naylor leads the company, which employs 32,698 people across operations in Australia, the U.S., Germany, the U.K., Switzerland and China.

2. Resmed ($RMD)

Resmed (RMD) share price over the last year: started at A$40.68, ended at A$30.50, a change of −25.0%. Range over the period: high A$43.01, low A$25.84. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $30.50 · Daily: 0.6% · Market cap: $43.93B · Sector: Healthcare · Industry: Healthcare Equipment

Resmed Inc. ($RMD) sits at the intersection of medical hardware and software, building devices and cloud-based applications aimed at diagnosing and managing respiratory conditions – sleep-disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease and others. The hardware side of the business develops and manufactures the physical equipment; the software side connects those devices to platforms that help clinicians and caregivers monitor patients outside of hospital.

Under CEO Mick Farrell, $RMD runs two main segments. The Sleep and Breathing Health segment covers the device and diagnostic side of the business, while the Residential Care Software segment operates a Software as a Service (SaaS) platform in the U.S. and Germany – tools designed for the professionals supporting people in home or out-of-hospital care settings. That pairing of physical devices with connected software is how $RMD frames its broader model of 'connected care'. The company employs around 11,370 people across this dual-track operation.

3. Sigma Healthcare Limited ($SIG)

Sigma Healthcare Limited (SIG) share price over the last year: started at A$3.00, ended at A$2.63, a change of −12.3%. Range over the period: high A$3.16, low A$2.60. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $2.63 · Daily: 0.0% · Market cap: $30.36B · Sector: Healthcare · Industry: Pharmaceuticals

Sigma Healthcare Limited ($SIG) operates as both a pharmacy franchisor and a full-line medicine wholesaler. The franchising arm licenses the Chemist Warehouse, My Chemist, Amcal and Discount Drug Stores brands to roughly 880 stores across Australia. The wholesale business supplies prescription medicines – including Pharmaceutical Benefits Scheme products – and over-the-counter goods to more than 3,500 pharmacy customers, covering both franchised stores and independent pharmacies.

Beyond Australia, $SIG partly owns retail pharmacies in New Zealand, Ireland and Dubai, and runs retail stores in China through local services agreements.

4. Fisher & Paykel Healthcare Corporation Limited ($FPH)

Fisher & Paykel Healthcare Corporation Limited (FPH) share price over the last year: started at A$33.79, ended at A$35.20, a change of +4.2%. Range over the period: high A$37.24, low A$26.67. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $35.20 · Daily: 0.0% · Market cap: NZ$25.48B · Sector: Healthcare · Industry: Healthcare Equipment

Fisher & Paykel Healthcare Corporation Limited ($FPH) makes medical devices for people who struggle to breathe – whether that's a patient on a ventilator in intensive care or someone managing sleep apnea at home. Its hospital range covers invasive and noninvasive ventilation, nasal high flow therapy, and surgical applications. The homecare side includes CPAP masks, flow generators and data management tools for obstructive sleep apnea treatment.

Under CEO Lewis Gradon, $FPH employs 7,629 people and sells into more than 120 countries. Its operational footprint runs across North America, the UK, Switzerland, India and beyond – a genuinely global manufacturing and distribution setup for a New Zealand-headquartered business.

5. Pro Medicus Limited ($PME)

Pro Medicus Limited (PME) share price over the last year: started at A$294.14, ended at A$165.40, a change of −43.8%. Range over the period: high A$320.04, low A$108.15. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $165.40 · Daily: 0.6% · Market cap: $17.28B · Sector: Healthcare · Industry: Healthcare Equipment

Pro Medicus Limited ($PME) builds software that powers medical imaging workflows in hospitals and imaging centres across Australia, North America and Europe. Its Visage 7 platform gives clinicians tools to visualise 2D, 3D and 4D medical images and connects with picture archive and communication systems. The Visage RIS product handles the administrative layer – patient registration, scheduling, billing, digital dictation and financial reporting. $PME runs all of that with a team of 153 people, under chief executive Sam Hupert.

6. Ramsay Health Care Limited ($RHC)

Ramsay Health Care Limited (RHC) share price over the last year: started at A$33.74, ended at A$52.92, a change of +56.8%. Range over the period: high A$53.70, low A$30.60. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $52.92 · Daily: -1.2% · Market cap: $12.22B · Sector: Healthcare · Industry: Healthcare Services

Ramsay Health Care Limited ($RHC) runs private hospitals, clinics and surgical centres across Australia, Europe and the United Kingdom, employing around 40,000 people. In Australia, $RHC's network covers more than 70 facilities in cities and towns across the country.

Ramsay Sante, its European arm, operates across France, Sweden, Norway, Denmark and Italy. Elysium Healthcare, a distinct unit within the group, runs specialist services across mental health, learning disabilities and autism, neurological care, and education for children.

7. Sonic Healthcare Limited ($SHL)

Sonic Healthcare Limited (SHL) share price over the last year: started at A$22.52, ended at A$19.05, a change of −15.4%. Range over the period: high A$23.86, low A$18.39. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $19.05 · Daily: 0.3% · Market cap: $9.42B · Sector: Healthcare · Industry: Healthcare Services

Sonic Healthcare Limited ($SHL) provides pathology and clinical laboratory services in Australia, New Zealand, the UK, the U.S., Germany, Switzerland and Belgium. Its diagnostic imaging arm operates within Australia, and a separate occupational health division, Sonic HealthPlus, provides services domestically too.

$SHL also runs more than 235 medical centres under the Independent Practitioner Network brand, with roughly 2,000 general practitioners working across those sites. CEO Jim Newcombe leads a workforce of around 45,000 people spread across all divisions.

8. Cochlear Limited ($COH)

Cochlear Limited (COH) share price over the last year: started at A$302.72, ended at A$136.44, a change of −54.9%. Range over the period: high A$302.72, low A$90.00. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $136.44 · Daily: 1.7% · Market cap: $8.92B · Sector: Healthcare · Industry: Healthcare Equipment

Cochlear Limited ($COH) makes implantable hearing devices – the kind that sit inside the skull and do the work that damaged ears can't. Its core product line is the Cochlear Nucleus System, a cochlear implant that pairs a surgically placed component with an external sound processor. The Acoustics segment covers bone conduction alternatives: the Baha System and the Osia System, which transmit sound through bone rather than the ear canal.

Beyond the hardware, $COH runs a Services segment that sells sound processor upgrades and accessories to its existing recipient base. That installed base also connects to Cochlear's digital layer – tools like Cochlear Remote Check and Cochlear Remote Assist allow clinicians to monitor and adjust devices without an in-person visit. CEO Dig Howitt leads a team of 5,400 people across the business.

9. Ansell Limited ($ANN)

Ansell Limited (ANN) share price over the last year: started at A$33.78, ended at A$41.36, a change of +22.4%. Range over the period: high A$42.30, low A$25.05. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $41.36 · Daily: 0.05% · Market cap: $5.80B · Sector: Healthcare · Industry: Healthcare Equipment

Ansell Limited ($ANN) makes the gloves, gowns and protective gear that hospitals, laboratories and industrial workplaces rely on every day. Its two business segments – Healthcare and Industrial – cover a wide range of protective applications, from surgical gloves used in operating theatres to chemical-resistant clothing worn in factories and chemical plants.

The Healthcare segment supplies surgical gloves, examination gloves and other consumables to hospitals, surgical centres, dental surgeries, veterinary clinics and life science companies. Its Industrial segment focuses on hand, arm and body protection for environments where workers face mechanical, chemical or other physical hazards.

$ANN sells under a portfolio of distinct brands – HyFlex, MICROFLEX, GAMMEX, AlphaTec and others – each targeted at specific use cases rather than a single generic product line. The company employs 15,409 people globally and is led by chief executive Nathalie Ahlstroem.

Unlike most names on this list, $ANN's healthcare exposure sits alongside a substantial industrial business, which means its revenue is tied to manufacturing activity and workplace safety demand as much as to the health sector.

10. Telix Pharmaceuticals Limited ($TLX)

Telix Pharmaceuticals Limited (TLX) share price over the last year: started at A$14.00, ended at A$16.34, a change of +16.7%. Range over the period: high A$17.38, low A$8.63. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $16.34 · Daily: 4.3% · Market cap: $5.55B · Sector: Healthcare · Industry: Biotech

Telix Pharmaceuticals Limited ($TLX) develops radiopharmaceuticals – drugs that pair a targeting molecule with a radioactive element to locate or destroy tumour cells. The company is active on both sides of that equation, building products that either image cancers or treat them directly.

Its Therapeutics segment is developing targeted radionuclide therapies for urologic, neurologic, musculoskeletal and hematological cancers. The Precision Medicine segment covers diagnostic imaging products and encompasses a MedTech business alongside international operations.

Telix Manufacturing Solutions rounds out the three divisions as a global network of facilities designed to deliver patient-ready doses. The company employs 1,120 people under CEO Chris Behrenbruch and carries a pipeline of candidates aimed at significant unmet needs in oncology and rare diseases.

Common questions

How do I invest in healthcare stocks in Australia?

Every company in this list trades on the ASX, so you can buy shares through any share trading platform with ASX access. The process is the same as buying any other ASX share – search the ticker, set your quantity and place the order. If you'd prefer exposure across several healthcare companies at once rather than picking individual names, ASX-listed healthcare ETFs can hold a basket of names in a single trade.

What are the key risks of healthcare stocks?

For biotech and pharmaceutical companies, regulatory risk sits at the core – a product needs a regulator's sign-off before it reaches patients, and a clinical or approval setback can materially affect a company's revenue outlook. Patent expiry adds further pressure for pharmaceutical businesses, where loss of exclusivity can open the door to cheaper generic competitors. Companies earning most of their revenue offshore also carry currency risk, because movements between foreign currencies and the Australian dollar flow through to AUD-reported earnings. Healthcare services businesses face a different set of pressures: labour costs, patient volumes and government reimbursement rates all affect profitability.

What kinds of healthcare companies does this list cover?

Healthcare is a broad label that covers very different businesses. This list includes pharmaceutical and biotech companies that develop therapies, medical device makers, private hospital operators, pathology and diagnostic imaging networks, a health imaging software business (Pro Medicus) and a pharmaceutical wholesaler and pharmacy franchisor (Sigma Healthcare). What drives each company's performance differs significantly – a drug approval decision, a hospital's occupancy rate and a software contract renewal are all distinct revenue drivers, so the companies don't necessarily move in step even within the same sector.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.

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