Are you looking to strengthen your portfolio with the addition of some quality blue chip stocks?
So you’re in luck, below you’ll find two main blue tokens that have been flagged as purchases. Here’s what you need to know:
The first top-notch stock to look at is Cochlear. It is a world leader in the design, manufacture and sale of implantable hearing aids. Cochlear has been a successful company for the past decade thanks to the growing demand for its products due to the aging population and of course its industry leading product line.
The latter was supported by its high level of investment in research and development (R&D). For example, in fiscal year 2020, Cochlear invested $ 185 million, or ~ 14% of its revenue, in R&D activities. But it doesn’t stop there. Management expects that amount to rise to between $ 190 million and $ 195 million in fiscal 2021, as it focuses on connected devices.
Macquarie analysts have a positive view of the company. The broker has an outperformance rating and price target of $ 241.00 on Cochlear shares at this time. Macquarie notes that his industry research shows Cochlear has gained market share in the United States and that its products have been rated the highest according to a survey of audiologists.
Ramsay Health Care Limited (ASX: RHC)
Ramsay Health Care is another item to consider. Business conditions have been difficult for Ramsay Health Care in 2020 due to the pandemic. However, due to its world-class network of private hospitals, favorable industry winds and growth through an acquisition strategy, management remains positive on its long-term growth prospects.
For example, following the release of his Q1 update, Ramsay Managing Director and CEO Craig McNally said, “Ramsay is well positioned to capitalize on the changing industry dynamics in each of. our key markets. Following the recent capital raising, the company has a strong balance sheet to support new opportunities as they arise.
Macquarie analysts are also positive on Ramsay. They have an outperformance rating and a target price of $ 73.65 on its shares. The broker agrees with management and remains optimistic about the future and believes Ramsay is well positioned for long term growth.
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James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia’s parent company, Motley Fool Holdings Inc., owns shares of Cochlear Ltd. Motley Fool Australia recommended Cochlear Ltd. and Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article only contains general investment advice (under AFSL 400691). Authorized by Bruce Jackson.