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Top Australian (ASX) Healthcare Growth Stocks
UPDATED Aug 07, 2022
What are the best Australian (ASX) Healthcare Growth Stocks?
According to our Simply Wall St analysis these are the best Australian Healthcare growth companies. We look for companies with high forecasted growth and healthy balance sheets that can deliver sustained growth over the long term.
Our criteria to find Top Growth Companies
Growth
- Companies with sustained revenue growth that outperforms the market are attractive to investors. These companies are most likely to appreciate in share price over time.
What do we look for?
- Is the company forecast to have high earnings growth.
Healthy Balance Sheet
- A healthy balance sheet is essential to drive growth opportunities and sustain the business.
- Repayments on debt take precedence over other initiatives to improve shareholder returns, so investors want to make sure the company is comfortably positioned to cover its debts.
What do we look for?
- Does the company have a manageable level of debt.
- Is the company able to cover its interest repayments.
6 companies meet this criteria in the Australian market
Doctor Care Anywhere Group PLC, together with its subsidiaries, provides digital healthcare and development services in the United Kingdom, Australia, and the Republic of Ireland.
Growth Criteria
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings: DOC is expected to become profitable in the next 3 years.
Revenue vs Market
High Growth Revenue
Future ROE
Rewards
Trading at 89.1% below our estimate of its fair value
Earnings are forecast to grow 82.12% per year
Revenue grew by 115.7% over the past year
Risks
Does not have a meaningful market cap (A$64M)
Shareholders have been diluted in the past year
Volatile share price over the past 3 months
Has less than 1 year of cash runway
Volpara Health Technologies Limited provides breast imaging analytics software products in New Zealand.
Growth Criteria
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings: VHT is expected to become profitable in the next 3 years.
Revenue vs Market
High Growth Revenue
Future ROE
Rewards
Trading at 40.3% below our estimate of its fair value
Earnings are forecast to grow 89.39% per year
Risks
No risks detected for VHT from our risks checks.
Cogstate Limited, a cognitive science company, provides computerized cognitive tests for clinical trials, academic research, healthcare, and brain health applications in Australia and internationally.
Growth Criteria
Earnings vs Savings Rate
Earnings vs Market
Revenue vs Market
High Growth Revenue
Future ROE
High Growth Earnings: CGS's earnings are forecast to grow, but not significantly.
Rewards
Trading at 70.7% below our estimate of its fair value
Earnings are forecast to grow 18.74% per year
Earnings grew by 2812.4% over the past year
Risks
Large one-off items impacting financial results
Universal Biosensors, Inc., through its subsidiary, Universal Biosensors Pty Ltd, operates as a biosensors company primarily in Australia.
Growth Criteria
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings: UBI is expected to become profitable in the next 3 years.
Revenue vs Market
High Growth Revenue
Future ROE
Rewards
Trading at 97.8% below our estimate of its fair value
Earnings are forecast to grow 95.69% per year
Risks
Does not have a meaningful market cap (A$64M)
Shareholders have been diluted in the past year
Does not have meaningful revenue (A$6M)
Visioneering Technologies, Inc., a medical device company, engages in the design, manufacture, sale, and distribution of contact lenses in North America, Europe, and the Asia-Pacific.
Growth Criteria
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings: VTI is expected to become profitable in the next 3 years.
Revenue vs Market
High Growth Revenue
Future ROE
Rewards
Earnings are forecast to grow 25.11% per year
Earnings have grown 18.2% per year over the past 5 years
Risks
Does not have a meaningful market cap (A$8M)
Shareholders have been diluted in the past year
Alcidion Group Limited, together with its subsidiaries, engages in the development and licensing of healthcare software products in Australia, New Zealand, and the United Kingdom.
Growth Criteria
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings: ALC is expected to become profitable in the next 3 years.
Revenue vs Market
High Growth Revenue
Future ROE
Rewards
Trading at 28.5% below our estimate of its fair value
Earnings are forecast to grow 110.3% per year
Risks
Shareholders have been diluted in the past year