Sonic Healthcare (ASX:SHL) share price hits record high at $43.43

Sonic Healthcare shares continue their run after its FY21 results.
The post Sonic Healthcare (ASX:SHL) share price hits record high at $43.43 appeared first on The Motley Fool Australia. –

The Sonic Healthcare Limited (ASX: SHL) share price has jumped out of the starting blocks on Friday.

Sonic Healthcare shares are now exchanging hands at $42.96, after reaching a new record high of $43.43 in early trade.

Let’s investigate further.

What’s up with the Sonic Healthcare share price today?

The Sonic Healthcare share price has been on the move since the company reported its FY21 earnings on 23 August.

Since then, the company’s shares have increased from $41.65 to the current quote price, which is a 3.15% climb.

In its FY21 earnings report, Sonic recognised a 28% year on year increase in revenue to almost $9 billion, whereas it recorded an 81% increase in EBITDA from the same time last year.

This growth occurred alongside EBITDA margins improving by over 9% in FY21, underscored by a strong performance in the company’s ANZ, USA and European markets.

In addition, it grew net profit by about 150% over the year to $1.3 billion. Consequently, the company raised its FY21 dividend by 7% to 91 cents per share.

Despite the growth in FY21, management was hesitant on providing FY22 guidance, due to uncertainties around Covid-19 testing volumes as we walk through the coming periods.

There is no market sensitive information for the company today. Therefore, it stands to reason that investors are driving the Sonic Healthcare share price higher on the back of its well-rounded FY21 performance.

Sonic Healthcare share price snapshot

The Sonic Healthcare share price has posted a year to date return of 34%, extending the previous 12 month’s gain of 30%.

In addition, Sonic shares are 7% in the green over the last month.

These results have lagged the S&P/ASX 200 index (ASX: XJO)’s climb of about 25% over the past year.

The post Sonic Healthcare (ASX:SHL) share price hits record high at $43.43 appeared first on The Motley Fool Australia.

Should you invest $1,000 in Sonic Healthcare Limited right now?

Before you consider Sonic Healthcare Limited, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sonic Healthcare Limited wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Top brokers name 3 ASX shares to buy today

Sonic Healthcare (ASX:SHL) dividend rises 7%, share price falls after FY21 results
ASX 200 rises, NIB plummets, Sonic drops

2 ASX COVID-19 shares reporting big growth

Why Ampol, NIB, Redbubble, & Sonic shares are dropping

The author Zach Bristow has no positions in any of the stocks mentioned. 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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!