What smart money is saying about Ansell

Position history

Every position in Ansell on record in the archive was reported in Q3 2026, across 1 fund letter, with no move described.

Fund activity · 1 position

• HoldsWilson Asset Management WAM Leaders Limited

  September 2026

  “The WAM Leaders (ASX: WLE) investment portfolio decreased during September, outperforming the S&P/ASX 200 Accumulation Index. Australian equity markets were volatile during the month as higher global bond yields and elevated oil prices weighed on risk sentiment. The Reserve Bank of Australia (RBA) raised the cash rate target by 0.25% to 4.60% late in the month, although softer-than-expected inflation data subsequently reduced expectations for further near-term tightening. Key contributors to the investment portfolio outperformance included private hospital operator Ramsay Health Care (ASX: RHC) and protective equipment manufacturer Ansell (ASX: ANN). Ramsay Health Care’s share price increased during the month, as investors responded positively to improving momentum in its Australian hospitals business and progress on the proposed separation of Ramsay Santé, its European operations. The proposed separation of Ramsay Santé is expected to simplify the group and increase management's focus on the core Australian business. The company’s operational improvement initiatives continue to gain traction, supported by activity growth, better theatre utilisation and ongoing cost efficiencies. During September, Ramsay Health Care also completed the acquisition of National Capital Private Hospital and submitted proposals to the federal government advocating for broader reform of the private hospital sector. The investment team maintains a constructive outlook towards Ramsay Health Care as improving operating performance supports further margin recovery and earnings growth. Ansell continued to rerate during September following its strong FY2026 result in August, which delivered earnings and FY2027 guidance ahead of market expectations. Health care was the key driver of this result, underpinned by strong growth in the Cleanroom business, although performance benefited in part from customer stocking and the timing of price increases. Ansell also managed cost headwinds effectively, including the impact of US tariffs and the Middle East conflict, through disciplined pricing and flexible commercial arrangements. Looking ahead, management remains focused on its core markets, customers and brands, particularly in the US. This supports the potential for stronger organic growth and further margin improvement. The company's balance sheet also remains in a strong position, providing flexibility for capital management and future investment. Ansell remains a core holding in the investment portfolio, with its improving business mix, robust cost management and balance sheet capacity expected to support the company’s earnings outlook.”

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