2 ASX All Ords shares cracking new 52-week highs on Tuesday

Two people climb to the summit and raise their arms in success as the sun rises brightly over the mountains.Two people climb to the summit and raise their arms in success as the sun rises brightly over the mountains.

Tuesday is shaping up to be rough one for many All Ordinaries Index (ASX: XAO) shares. Fortunately, though, not all companies that call the index home are suffering.

Indeed, two are soaring into the green to crack new 52-week highs.

Right now, the All Ords is down 0.2%, trading at 7,137.1 points.

So, which stocks are bucking the trend to reach long-forgotten heights? Let’s take a look.

2 All Ords shares trading at 12-month highs

The first All Ords share posting a new 52-week high today is medical device developer Polynovo Ltd (ASX: PNV).

It’s soaring 7.83% at the time of writing to trade at $2.48. However, earlier today, it hit $2.50 – marking an 8.7% gain and the highest the stock has been in 18 months.

Interestingly, there’s been no news from the healthcare favourite to explain today’s rise.

In fact, the last time the market heard price-sensitive news from Polynovo was in mid-December when the company announced the end of a $53 million capital raise – offering new shares for $1.90 apiece.

Thus, those who got in on the raise have already seen a 30% return on investment (ROI).

Joining Polynovo in posting a new 52-week high today is fellow All Ords healthcare share Aroa Biosurgery Ltd (ASX: ARX).

It reached its highest point since October 2021 earlier today, leaping to $1.175 – 2.2% higher than its previous close. It has since slipped slightly to $1.1725, representing a 1.96% gain.

Also, like Polynovo before it, the company hasn’t released any news to explain its latest gain.

The last piece of price-sensitive news from Aroa Biosurgery, detailing its half-year performance, dropped in late November.

Then, the company announced its product sales grew 44% year-on-year while its normalised earnings before interest, tax, depreciation, and amortisation (EBITDA) was positive.

The post 2 ASX All Ords shares cracking new 52-week highs on Tuesday appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PolyNovo. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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