The CSL Limited (ASX: CSL) share price got knocked down around 4% today after the biopharmaceutical giant released its latest round of financial results to investors.
About CSL
CSL is Australia’s largest (and some might say best) healthcare company, specialising in biopharmaceuticals. Founded in the late 1900s as the Commonwealth Serum Laboratories, CSL was sold by the Government to Australian investors via the share market in 1994 at $2.30 per share, at which time it doubled its size through an international acquisition.
Today, CSL is a global leader in blood plasma vaccines (think: the flu) and antivenoms, providing relief for potentially life-threatening medical conditions.
What Happened?
This morning, CSL delivered its half-year results for 2019. Rask Media’s Max Wagner went into depth covering the results in this article, “Everything You Should Know About CSL’s Report“.
In brief, CSL reported another half-year of profit growth, up 10% in constant currency terms, and revealed it would pay a dividend equivalent to $1.20 per share, up 20%.
CSL also set its full-year profit expectations at the upper end of its range between $1.88 billion and $1.95 billion. That’s promising!
Will The CSL Share Price Reach $200?
In a recent analysis of CSL shares, Rask Media’s Owen Raszkiewicz wrote an article asking, “Is The CSL Share Price Seriously Cheap?“.
While shares are down today, CSL has a knack for grinding its share price higher and higher again over many years so it could be one to watch closely — especially if it falls any further.
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