Telix and Pro Medicus are in the firing line in the lead up to the next index reweighting. Pic: Getty Images<\/p>\n
The upcoming S&P\/ASX index reweightings mean likely promotions for 4D Medical and ALS Ltd, but performance reviews for Pro Medicus and Telix
\nBroker says top-end-of-town healthcare valuations are \u201cincreasingly attractive\u201d
\nIntelicare shares surge up to 60% on \u2018biggest client deal to date\u2019<\/p>\n
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Who is about to be fired and who is in for a promotion?<\/p>\n
Broker Canaccord has made an early call on what shares will be included in the key S&P ASX indices, when the bourse reweights them on June 19.<\/p>\n
For healthcare stocks, the firm delivers mixed news.<\/p>\n
Lung imager 4D Medical (ASX:4DX)<\/a> \u201cprobably\u201d will be added to the S&P\/ASX 200 index.<\/p>\n But fellow bodily prober ProMedicus (ASX:PME)<\/a> looks set to be turfed from the top 50 ranking.<\/p>\n 4D Medical\u2019s ascension should not surprise, given the company\u2019s 1700% share surge over the past nine months.<\/p>\n The market overseers ejected 4D from the broader all ordinaries index in September last year. That was awful timing, as 4D\u2019s share run was just gathering pace.<\/p>\n Pro Medicus shares have lost more than half their value over the last six months, but the company still bears a $14.3 billion market cap.<\/p>\n (Index inclusion is based not just on size).<\/p>\n Lab testing giant ALS (ASX:ALQ)<\/a> should take the place of Pro Medicus in the top 50 pantheon.<\/p>\n Meanwhile, Telix Pharmaceuticals (ASX:TLX)<\/a> could \u201cpossibly\u201d tumble from the top 100 cohort, if its shares continue to underperform.<\/p>\n Who\u2019s in and out<\/p>\n For the record, the firm\u2019s broader probable ASX 200 inclusions are \u2018khaki\u2019 stock Electro Optic Systems (ASX:EOS) <\/a>and gold diggers Alkane Resources (ASX:ALK)<\/a> and Kingsgate Consolidated (ASX:KCN)<\/a>.<\/p>\n No surprises there.<\/p>\n These promotions are likely to be at the expense of discounted online retailer Temple & Webster (ASX:TPW)<\/a> , travel plays SiteMinder (ASX:SDR)<\/a> and Web Travel Group (ASX:WEB)<\/a> and the hero-to-zero Guzman y Gomez (ASX:GYG)<\/a><\/p>\n Uranium miner Paladin Energy (ASX:PDN)<\/a> is a probable S&P\/ASX 100 inclusion, at the expense of the hapless AMP (ASX:AMP).<\/a><\/p>\n The bourse will announce the rebalance on June 5.<\/p>\n \u00a0<\/p>\n Healthcare valuations are compelling, says Wilsons<\/p>\n After a \u201cchallenging period\u201d for healthcare, valuations have become \u201cincreasingly attractive\u201d.<\/p>\n So says Canaccord-owned Wilsons Advisory, which notes the ASX 100 healthcare stocks trade at two-decade lows.<\/p>\n \u201cMost companies are also trading at multi-year low earnings multiples and well below historical averages, despite generally maintaining compelling growth outlooks\u201d.<\/p>\n The February 2026 reporting season, \u201cexhibited a wide dispersion of outcomes, both in earnings delivery relative to market expectations and subsequent share price performance\u201d.<\/p>\n Analysts have pared their earnings expectations for \u201cindex heavyweights\u201d such as CSL, Cochlear (ASX:COH)<\/a> , Sigma Healthcare (ASX:SIG)<\/a> and Pro Medicus.<\/p>\n Wilsons notes pockets of strength, such as sleep apnoea plays ResMed (ASX:RMD)<\/a> and Fisher & Paykel Healthcare (ASX:FPH)<\/a> . These stocks remains in \u201congoing earnings upgrade cycles.\u201d<\/p>\n