2 FTSE 100 shares to buy before the 5 April ISA deadline

Here are two FTSE 100 shares to buy now that I’m keen to add to my diversified stocks portfolio to hold for the long term.

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The ISA deadline for saving this year’s £20,000 allowance is 5 April. One option is to put money into a Stocks and Shares ISA to use the allowance up and buy shares later. But I’ve found what I believe to be two FTSE 100 shares to buy now. So I’m not inclined to wait.

Big biopharmaceuticals

In February’s full-year results report, biopharmaceutical company AstraZeneca (LSE: AZN) delivered some decent numbers. Total revenue at constant currency exchange rates shot up by 38% for the year. But that figure included turnover from the firm’s Covid-19 vaccine.  Without the vaccine, revenue grew by 23%, which is still an impressive performance.

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Chief executive Pascal Soriot said AstraZeneca continued on its strong growth trajectory in 2021. And he reckoned “industry-leading” R&D productivity drove the progress. Indeed, five of the company’s medicines achieved blockbuster status. And that means they each posted annual sales of $1bn or more.  

The R&D pipeline remains vibrant. And looking ahead, Soriot is “confident” about AstraZeneca’s long-term growth and profitability. Meanwhile, City analysts have pencilled in estimates of a triple-digit percentage increase in earnings this year followed by a low double-digit gain in 2023. It seems the company has a strong grip on its growth mojo these days.

Of course, estimates can be wrong and it’s possible for the business to miss expectations because of operational setbacks. And if that happens, the valuation could adjust lower, taking the share price with it. But with the stock near 9,224p, the forward-looking earnings multiple is just below 16 for 2023. And I’d embrace the risks of owning some of the shares now because I think the business has a bright future.

Fast-moving consumer goods

Fast-moving consumer goods company Reckitt (LSE: RKT) owns popular brands in the health, hygiene and nutrition markets. And in February’s full-year results report, chief executive Laxman Narasimhan said the company’s “journey to rejuvenate sustainable growth is well on track.”  As evidence, he pointed to “strong” like-for-like net revenue growth of 3.5% in 2021. And that means over two years, revenue has grown by 17.4%.

The outcome was ahead of the directors’ previous expectations. And Narasimhan said the company has “significantly” strengthened its business over the past two years. He reckons the “innovation” pipeline is now 50% larger and the brands are stronger and more relevant.

The company has been busy nipping and tucking its portfolio of brands — selling some and buying others. And Narasimhan described the process as “repositioning for faster growth.” But there are no guarantees accelerated growth will arrive, of course. And Reckitt’s record on earnings is a bit patchy. Nevertheless, with the share price near 6,144p, the forward-looking earnings multiple is just below 19 for 2023. And I’d embrace the risks and aim to make the stock long-term holding for my portfolio for its ongoing recovery potential.

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Kevin Godbold has no position in any of the shares mentioned. The Motley Fool UK has recommended Reckitt plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Should you invest the value of your investment may rise or fall and your Capital is at Risk. Before investing your individual circumstances should be considered, so you should consider taking independent financial advice.

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