There is just no stopping biopharmaceutical company CSL Limited (ASX: CSL) – as despite an overall down day on the S&P/ASX 200 today CSL shares are still sitting at $184.85 – up 41.8% on its share price of $130.27 this time last year.
The $84.2 billion market cap company have now told shareholders to expect as much as US$1.71 billion in profit for the FY18 as CSL increased its net profit guidance to between US$1.68 billion and US$1.71 billion in an announcement to the market last week.
CSL CEO Paul Perreault pointed to better than expected sales out of the company's haemophilia drug Idelvion and angioedema Haegarda product as behind the upgrade, as the company's knack for re-shuffling its product offerings to meet market demand continues to be reflected in its profit margins.
Despite its rocketing share price, Citi analysts still think CSL is a buy, with expectations its earnings will continue to grow at a rate of around 20% per annum until FY20.
For health sector interested investors other options in the space could include Cochlear Limited (ASX: COH) – a similar outperformer with shares down 0.5% to $197.83 at the time of writing – or Ramsay Health Care Limited (ASX: RHC) – also down 1.2% at the time of writing to $62.94.
