Good news if you own shares in CSL Limited [ASX:CSL].
Net profits are up 11%, and revenue is up 11% too.
This biopharmaceutical company knocks it out of the park, once again!
CSL raked in US$4.91 billion for the six months ending 31 December.
And this is ahead of broker estimates.
That’s why the CSL share price is up 18% this year already.
So is now the time to buy CSL, or has the ship sailed?
Today, we’ll take a look…
Who is CSL Limited [AX:CSL]?
CSL Limited is one of the biggest biotech companies in the world.
It has a market cap of more than $147 billion and has over 25,000 staff.
The company manufactures, markets and distributes all over the world.
The company has two core segments. One deals in plasma therapies. The second works in ‘non-plasma’ and influenza-related products.
The company’s core business is to separate human blood into useable components.
The blood is then used to treat diseases like immunodeficiency and autoimmune diseases.
You could say they’ve got a pretty tight-knit grip on this global market.
Today the company share price is at $334 and ‘Demand for its immunoglobulin products in western market continues to remain strong’, according to The Australian Financial Review.
It may be possible for investors to push this share higher over 2020. But it’s had a big one already. It’s now in a tussle with Commonweath Bank as Australia’s biggest stock.
So what does all of this mean?
To answer that, it’s worth looking at the chart below.
CSL Share Price: A big jump on good results
Source: Trading View
It’s the daily chart of the CSL share price.
I’ve highlighted the current market action at the open today.
Investors jumped on the improved earnings and snapped up shares at the open.
This is typical when a company releases good news.
However, it’s likely that the good result it just reported is now in the CSL price.
It might be worth waiting on the sidelines to see what happens.
It’s a cracking company, no doubt. But you do have to pick your moments on the market.
As always, this is not a recommendation to buy or sell CSL. It is an update only. I hope you found it useful.
Until next time,
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