Buy Hold Sell: What’s healthy in healthcare

Healthcare has been a strong performer in recent years, over the past 5 years the healthcare index has returned 110.7% compared to the broader ASX 200’s measly 3.5%. 10 years ago the healthcare sector made up just 4%, now this has grown to 11% - larger than telcos, energy or consumer discretionary. Even these figures don’t give an appreciation for the growth in individual companies, as CSL, Ramsay Healthcare and Sirtex have returned 478%, 488%, and 906% respectively over 10 years - before accounting for dividends. So will these trends continue? Or has all the easy money been made? We asked Justin Braitling from Watermark Funds Management and Ben Rundle from NAOS Asset Management to get their view on 5 of the big names in Australian healthcare.