CSL Limited and REA Group Limited: Should you buy these growth stocks now?

CSL Limited (ASX:CSL) and REA Group Limited (ASX:REA) are the very symbols of stable growth and high-octane business expansion.

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Some investors like smooth, steady growth and others demand high-octane business expansion.

Why not have a little of both?

Here are two companies that for me are the very symbols of growth stocks. One is a large-cap that reliably grows in the healthcare sector and the other is turbo-charged for high double-digit growth.

CSL Limited (ASX: CSL) is setting itself up for a big year in 2015 and shareholders will be the first to benefit as the company announces a share buyback. Just as the biopharmaceutical giant was finishing one share repurchase worth $950 million, it launched yet another one for $950 million. That's the eighth buyback since 2005.

Reducing its total outstanding shares about 17% over the last ten years while profits have risen steadily means shareholders get a special kicker to earnings and book value per share. These can drive the share price higher. Dividends per share go up a little faster as well.

It's also making an even bigger name for itself by buying the influenza vaccine unit of Swiss pharmaceutical Novartis. Already the largest flu vaccine producer in Australia, this move will make it the world's second largest producer.

The stock is up 17% over the last year and it pays a 1.7% yield. Earnings are forecast to rise about 15% annually in the next two years, so investors can look forward to stable and solid growth.

REA Group Limited (ASX: REA) is another company that keeps piling on the growth. The operator of the number one property search website, realestate.com.au, has taken a big step to expand internationally by buying out the third largest property listing website in the US. In partnership with News Corp (NASDAQ: NWS), it will have 20% control of Move Inc. (NASDAQ: MOVE), which operates move.com and realtor.com.

The property advertising and listing market in the US is highly fragmented, with market leaders like Zillow Inc (NASDAQ: Z) and Trulia Inc (NYSE: TRLA) only holding a small portion of the total market share. REA Group can combine its marketing expertise and News Corp's massive media power and grab market share in the world's biggest real estate market.

Of these two wonderful growth stocks, I would prefer REA Group because as a business it has more potential to grow, even if its growth rate begins to moderate. It's a $5.9 billion company, but it's already bigger by market capitalisation than the US market leader Zillow.

Motley Fool contributor Darryl Daté-Shappard does not own shares in any company mentioned. 

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