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5 worst-performing ASX 200 healthcare shares of FY21

The healthcare sector wasn’t immune to poor performing shares last financial year.
The post 5 worst-performing ASX 200 healthcare shares of FY21 appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) accommodates some of the most successful healthcare shares in Australia, but there are always exceptions to the rule.

Shares that overlap the ASX 200 and the healthcare sector generally keep the attention of market watchers. However, not all shares can be winners.

These are the 5 worst performing ASX 200 healthcare shares of the financial year just been.

5 worst ASX 200 healthcare shares of FY21

Mesoblast Limited (ASX: MSB)

The Mesoblast share price had a shocking financial year on the ASX – it fell 39% in the 12 months ended 30 June 2021. The drop saw its share price go from $3.25 to $1.98.

Mesoblast is a biotech company with a focus on cellular medicines. Its share price experienced 3 noticeable drops last financial year.

The first was in August when the US Food and Drug Administration (FDA) released a briefing document that cast doubt over whether the company’s remestemcel-L product would pass through a scheduled meeting with the Oncologic Drugs Advisory Committee (ODAC).

The news saw the Mesoblast share price close 31% lower than its previous session. The ODAC eventually voted in favour of remestemcel-L’s efficacy.

The FDA caused another headache for the Mesoblast share price in October when it announced Mesoblast would have to conduct an additional randomised control study before it would approve remestemcel-L for use. Mesoblast’s shares plummeted 37% on the news.

Finally, on 18 December, Mesoblast announced its trial, testing if remestemcel-L could help reduce mortality in COVID-19 patients, failed to achieve its objectives. As a result, the Mesoblast share price ended the day 36% lower than its previous close.

On top of this, Mesoblast faced multiple class actions in the US and rumours of another in Australia.

Nanosonics Ltd (ASX: NAN)

Despite hitting a record high in December and January, Nanosonics’ shares ended the 2021 financial year 13% lower than when they started it. The company’s shares fell from $6.82 to $5.87 over the 12 month period.

The healthcare technology company is best known for its trophon technology that disinfects ultrasound probes.

Poor quarterly results released in February ultimately killed Nanosonic’s run and its sustained silence didn’t help its share price recover.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

Despite releasing consistently strong results and, ultimately, staying extremely quiet during the 2021 financial year, the Fisher & Paykel share price fell 8%.

On 30 June 2020, the Fisher & Paykel share price was $32.84. Exactly 12 months later, it was $28.92.

Alas, there’s no real reason as to why the long-term market resident’s shares fell this financial year. It’s just one of the ASX’s many mysteries.

Ramsay Health Care Limited (ASX: RHC)

The 2021 financial year was a rollercoaster for the Ramsey share price, which finished 4% lower than it started. The company’s shares fell from $66.52 to $62.95 over the period.

Ramsay operates 221 hospitals and 14 day surgery centres, treatment facilities, rehabilitation and psychiatric units, and a nursing college across Australia, the United Kingdom, France, Indonesia, Malaysia, and Italy.

Despite barrages of good news and decent quarterly reports, the Ramsay share price just couldn’t get it together last financial year.  

During the 12 months ended 30 June 2021, Ramsey was able to start taking private patients in the UK and received an investment-grade credit rating from credit rating agency Fitch.

It also announced it was acquiring Spire Healthcare, an independent hospital group in the UK.

CSL Limited (ASX: CSL)

Finally, CSL shares only just finished the financial year in the red. They closed the period 0.6% lower than they started. Having begun the financial year trading for $287, the CSL share price was $285.19 on 30 June 2021.

CSL was in the headlines for a lot of the financial year. This was mostly because of its agreement with the Commonwealth of Australia to make AstraZeneca‘s COVID-19 vaccine in Melbourne.

Originally, the agreement would have seen CSL also making the University of Queensland’s COVID-19 vaccine. Unfortunately, that was scrapped as a vaccine candidate in December.

In February, CSL shocked investors when currency conversions saw its shareholders receiving a dividend that was 9% less than their previous payout.

Finally, an agreement for CSL to commercialise and licence a novel late-stage gene therapy candidate saw its shares fall in May.

The post 5 worst-performing ASX 200 healthcare shares of FY21 appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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