Although the S&P/ASX 200 Health Care (Index: ^AXHJ) (ASX: XHJ) has gained almost 14% this year, I still believe there is a lot of value to be found in the sector.
Listed below are three high quality healthcare shares I think investors should consider snapping up today. Here's why I like them:
Nanosonics Ltd. (ASX: NAN)
Last month the shares of this leading infection control specialist fell to a 52-week low of $2.27. I believe this sell-off was due to concerns over the impact a strong Australian dollar would have on its results in the short-term. Although it has rebounded a touch since then, in my opinion its shares are still well and truly in the bargain bin considering its significant growth potential. At present Nanosonics' shares are changing hands at approximately 32x annualised earnings excluding tax benefits.
National Veterinary Care Ltd (ASX: NVL)
Due to the veterinary market being highly fragmented, I believe it is well worth considering a buy and hold investment in this fast-growing veterinary company. Especially considering the high level of pet ownership in Australia at present and the fact that an estimated 79% of dogs and 65% of cats visit the vets at least once a year. This could result in strong earnings growth for several years to come.
Ramsay Health Care Limited (ASX: RHC)
I think this global private hospital company would be up there as one of the best healthcare shares to invest in on the share market right now. Thanks to its vast global network and the expected strong demand for healthcare services over the next few decades due to ageing populations, I believe Ramsay is positioned to grow at an above-average rate for the foreseeable future.
