CSL rises past $300 a share

Health care giant CSL has broken past the $300 dollar a share mark on Australia’s stock exchange

The company’s shares burst through the $300 level to hit an all time high of $300.58 in morning trade before pulling back to $299.90 at 1302 AEDT.

CSL shares have increased by 52 per cent in the last 52 weeks.

Burman Investment Management’s Julia Lee said CSL’s blood business, and its research and development arm, were its strengths.

“CSL is not a one product wonder. It has strong research and development which helps growth,” she said.

Its shares have also increased by more than 30 per cent for each of the last three years.

Cochlear shares have the next highest price – $239.

Commonwealth Serum Laboratories (CSL) was founded in 1916 and listed on the share market in 1994.

CSL declined to comment on the price.

AAP

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