Shares in the global pathology provider are scaling new heights.
The post Sonic (ASX:SHL) share price hits all-time high today appeared first on The Motley Fool Australia. –
The Sonic Healthcare Ltd (ASX: SHL) share price hit an all-time high today, reaching a top of $38.51 before pulling back to the current trading price of $38.15.
Today’s gains extend a 16% year-to-date run for the global pathology provider, outpacing the S&P/ASX 200 Index (ASX: XJO) which has posted a 10% return over same time.
Sonic’s share price has climbed an additional 9.66% over the previous 1 month at the time of writing, following the announcement it will acquire 100% of Canberra Imaging Group back on 17 June.
Regarding the transaction, Sonic chief executive officer Dr Colin Goldschmidt said:
“Canberra Imaging Group is a high quality imaging practice, with outstanding radiologists, management and staff, and with a culture that is strongly aligned with Sonic’s Medical Leadership model. CIG has a proven track record in the greater Canberra market, with a history of strong organic growth based on personalised and excellent customer service. I am delighted to welcome warmly all CIG staff to the Sonic Healthcare group.”
Today’s trading volume is 95% more than the 20 day average trading volume for this time of day, and the share price has come off a 52-week low of $30.08 back in June 2020.
Sonic share price snapshot
The company also pays a dividend of 87 cents per share, 30% franked. At the current share price, this equals an annual dividend yield of around 2.3%.
Sonic has a sound track record of meeting its distribution schedule, having met each payment since March 2009.
At the time of writing, the Sonic share price is up 0.16% at $38.15 per share.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of May 24th 2021
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.