Why is the CSL share price beating the ASX 200 on Friday?

The mega blue-chip and its healthcare peers are outperforming the ASX 200 today.

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Key points

  • The mega blue-chip share CSL and its healthcare peers are outperforming the ASX 200 today
  • The CSL share price is up 0.54% in midday trading while the ASX 200 is up 0.43%
  • The S&P/ASX 200 Health Care Index is up 0.54%

The CSL Limited (ASX: CSL) share price is up 0.54% in midday trading with ASX healthcare shares among the leading market sectors today.

The S&P/ASX 200 Health Care Index (ASX: XHJ) is up 0.54% today while the S&P/ASX 200 Index (ASX: XJO) is up 0.43%.

Why is the CSL share price going up today?

There's no news out of CSL today, however, its share price has been steadily climbing since the start of 2023.

In the year-to-date, CSL shares are up 4.09%, slightly behind the ASX 200 (up 4.9%) and its sector peers (up 4.7%).

Last month the healthcare leader released its 1H FY23 results, revealing a 10% lift in net profit after tax before amortisation (NPATA) in constant currency to US$1,957 million.

This resulted in a 2.9% boost to the interim dividend for CSL shareholders to US$1.07 per share.

CSL also released a portfolio update later in the month. Among the news was that the European Commission has granted conditional marketing authorisation for HEMGENIX.

That's the new gene therapy that CSL has developed, which is the world's first gene therapy option for people with severe and moderately severe Hemophilia B.

The US Food and Drug Administration approved the therapy last November. At the time, top broker Wilsons said the new drug could be a 'powerful driver of sector dominance' for CSL, with positive implications for its share price.

CSL shares remain a favourite among analysts. Last week my Fool colleague Tony reported that 16 out of 19 analysts on CMC Markets rate the stock as a buy.

Motley Fool contributor Bronwyn Allen has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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