3 ASX 200 shares going gangbusters in June

The S&P/ASX 200 Index (ASX: XJO) is up 0.3% so far in June, with three ASX 200 shares doing a lot of the heavy lifting.

Which three stocks have really been going gangbusters this month?

I’m glad you asked!

ASX 200 shares flying higher in June

The first high-flying ASX 200 share in June is electronics retailer JB Hi-Fi Ltd (ASX: JBH).

JB Hi-Fi shares closed out May, trading for $58.23. In afternoon trade today, shares are changing hands for $63.39. That puts the JB Hi-Fi share price up 8.6% so far in June. Shares are now up 50% since this time last year.

JB Hi-Fi shares also trade on a fully franked dividend yield of 4.3%.

The last price-sensitive announcement from the company was a reasonably strong quarterly sales update on 9 May.

Investors appear to have been bidding up the ASX 200 share in June ahead of the pending stage 3 tax cuts and a raft of cost-of-living relief measures contained in the Federal budget. With most Aussies looking at pocketing significantly more money in the year ahead, JB Hi-Fi could enjoy a material uptick in sales.

Pro Medicus Ltd (ASX: PME) is the second ASX 200 share to charge higher in these first two weeks of June.

Shares in the health imaging company closed out May trading for $120.12. At the time of writing, shares are changing hands for $132.54 apiece, up 9.3% in June. That sees the Pro Medicus share price up an eye-watering 104.5% since this time last year. Pro Medicus shares trade on a fully franked 0.3% dividend yield.

The most recent share price momentum was driven by the company’s 28 May announcement that its wholly owned US subsidiary, Visage Imaging, had signed five new customer contracts. Pro Medicus said the new contracts have a total value of at least $45 million.

In a nod to its growing AI ambitions, the new contracts will be fully cloud-deployed and are expected to be completed within the next six months.

“Despite record new contract signings this year, our pipeline remains strong with a broad range of opportunities both in terms of size and market segments likely helping,” Pro Medicus CEO Sam Hupert said on the day.

Also soaring in June

Rounding off the list of ASX 200 shares going gangbusters in the first half of June is Bapcor Ltd (ASX: BAP).

Shares in the auto parts company closed out May trading for $4.25. In afternoon trade today shares are changing hands for $5.00 apiece, up 17.7%. The Bapcor share price remains down 14.8% since this time last year. Bapcor shares also trade on a 4.2% fully franked trailing dividend yield.

The big June boost for the Bapcor share price came on Tuesday this week.

Investors sent the ASX 200 share up 14.0% on the day after management confirmed media speculations that the company had received a non-binding takeover proposal from United States-based private investment firm Bain Capital.

The $5.40 per share cash offer values Bapcor at more than $1.8 billion.

There is not yet any guarantee that the takeover offer will proceed.

The post 3 ASX 200 shares going gangbusters in June appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 Pro Medicus. The Motley Fool Australia has recommended Bapcor, Jb Hi-Fi, and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.