Investors of ASX-listed bank shares have enjoyed the spoils of a rebounding economy. Yet, the best may still be to come as the big four Aussie banks deliberate over how to return an estimated $34 billion of excess capital to shareholders.

Analysts are already debating whether the returns will be via beefed-up dividends or share buybacks.

Let’s look at what analysts are expecting.

Big bucks from ASX bank shares

Despite a global pandemic, all of the big four banks delivered share price returns in excess of 40% over the past year. For shareholders, it has been somewhat bittersweet. While enjoying capital appreciation, they have had to suffer a hit to dividend payments.

However, with the economy springing back, those dividend cuts quickly stacked up as spare cash. Commonwealth Bank of Australia (ASX: CBA), Australia and New Zealand Banking GrpLtd (ASX: ANZ), National Bank of Australia Ltd (ASX: NAB), and Westpac Banking Corp (ASX: WBC) are now all flushed with cash.

Analysts over at Morningstar estimate around $34 billion of excess capital will be returned to shareholders over the next few years. But the real question is, how will the spoils be shared?

Equity analyst, Nathan Zaia expects that all the ASX’s major bank shares will make off-market buybacks in the next 12 months. Zaia forecasts the remaining capital to be returned through bigger annual dividends between 2021 and 2024. Additionally, Zaia sees on-market buybacks occurring once franking balances are run dry.

We think the Commonwealth Bank could kick things off in August 2021 with an approximate AUD 5.5 billion off-market buyback. However, the bank’s conservatism around loan loss provisioning and dividends during 2020 and 2021 suggests shareholders may need to wait until 2022.

Divs or buybacks for CBA?

Morningstar analysts estimate Commonwealth Bank has around $10 billion of excess capital.

Based on the research firm’s numbers, it considers CBA to be trading a significant premium to its fair value estimate of $77 a share.

Hence, Morningstar would prefer Australia’s biggest bank to return capital via dividends. If the bank pursued this path, analysts estimate it could cover a 100% dividend payout ratio through to 2023.

At the time of writing, ASX bank shares are in the red. Furthermore, CBA is trading 0.40% lower to $99.47.

The post ASX bank shares weigh up $34 billion dosh-dishing decision appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. 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 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 Bruce Jackson.

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Shares in Core Lithium Ltd (ASX: CXO) are gaining today while the company is celebrating its Finniss Lithium Project’s sustainability evaluation results. At the time of writing, the Core Lithium share price is 24 cents – 2.17% higher than its previous close.

Let’s take a look at the latest news from Core Lithium.

One of Australia’s least carbon-intensive lithium mines

Core Lithium has announced its Finniss Lithium Project has been found to have less scope 3 emissions per tonne of product produced than other Australian lithium projects.

Additionally, only one noted Australian lithium project had fewer scope 1, 2, and 3 emissions per tonne of product produced than the Finniss Lithium Project.

Scope 1 emissions are from a company’s direct business, while scope 2 emissions are from creating the power a company uses. Finally, scope 3 emissions are those found in the rest of a company’s value chain.

The Finniss Lithium Project’s location means its emissions from transport are much lower than other lithium projects. It lies just 25km from a port, a power station, a gas source, and a railway. It’s also just 1 hour’s drive on a sealed road from Darwin Port and its workforce’s accommodation.

The assessment, produced with environmental and sustainability consultants ERM Group, looked at the Finniss Project’s carbon footprint, life cycle, and sustainability.

The report considered all activity at the mine site, including land clearing, fuel consumption, electricity usage and blasting. It also looked at scope 3 emissions created by transporting products, business travel, and employee commutes.

Core Lithium said it’s looking into ways to further reduce its carbon footprint. It plans to revegetate the mine site. It’s also considering powering the site with renewable energy and utilising electric vehicles.

Commentary from management

Core Lithium’s managing director Stephen Biggins said of the mine’s sustainability results:

Core Lithium has always been aware of the inherent environmental, social and infrastructure advantages associated with the Finniss Lithium Project. Work performed to date by ERM Group supports the company’s push towards greater sustainability transparency and greater focus is being placed on improving the company’s relatively low-carbon footprint.

Core Lithium share price snapshot

Today’s news has given yet another boost to the Core Lithium share price.

It’s currently 42% higher than it was at the start of 2021. It has also gained 384% since this time last year.

The company has a market capitalisation of around $270 million, with approximately 1.1 billion shares outstanding.

The post Core Lithium (ASX:CXO) share price gains on project’s sustainability rating 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 no position in any of the stocks mentioned. 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 Bruce Jackson.

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Well, the news is coming thick and fast out of Wilson Asset Management (WAM) on the ASX this week. Yesterday, we covered the ASX debut of WAM’s newest Listed Investment Company (LIC), WAM Strategic Value Ltd (ASX: WAR). Today, we got some more dramatic news out of WAM. This time surrounding WAM Global Ltd (ASX: WGB).

WAM Global is one of WAM’s newer LICs, only hitting the ASX back in 2018. It was a first for the fund manager, considering WAM Global would be the first Wilson LIC to focus on companies outside the ASX (hence the name).

Since its ASX IPO back in June 2018, WAM Global has gone on to deliver an average performance of 12.1% per annum since. This includes some healthy dividend growth as well. WAM Global shares today offer a fully franked trailing yield of 3.5%.

WAM’s ASX wedding bells toll

Well today, it seems WAM Global is set to grow even larger. In an ASX announcement this morning, WAM Global told investors it has entered into a scheme with Templeton Global Growth Fund Ltd (ASX: TGG). This will allow the two funds to merge. Under the scheme, all Templeton shareholders will receive WAM Global shares and options. Shareholders can also choose to have their shares bought back by WAM for a cash consideration if the scrip offer isn’t appealing.

The exact cash/scrip numerations have yet to be determined. But WAM Global has stated that the scrip offer will be “calculated by reference to the relative NTA [net tangible assets] per share after tax, but before deferred taxes of WAM Global and TGG”. The cash offer, should investors choose to take it, will consist of shareholders receiving “cash equal to the NTA per [Templeton] share after all current and deferred taxes and associated transaction costs”.

Until the review of an “independent expert” over the deal, Templeton Global Growth Fund’s board has given their initial approval. They have told investors that they intend to vote in favour of the merger.

WAM Global founder and chair Geoff Wilson stated the following:

The WAM Global Board of Directors believe that the Scheme will be beneficial to both companies and result in a superior merged entity leveraging Wilson Asset Management’s proven investment strategy. We look forward to welcoming TGG shareholders to the Wilson Asset Management family as we continue to grow WAM Global.

WAM Global estimates that if all goes to plan, the merger can be implemented by the end of October 2021.

What would a combined LIC look like?

As we touched on earlier, WAM Global invests in companies mostly outside the ASX and Australia. Its current portfolio (as of 31 May 2021) is weighted 56.4% to US companies, 10.4% to German companies and 7.5% to British shares, amongst others. Some of WAM’s top holdings at the current time include Chinese giant Tencent Holdings ADR (OTCMKTS: TCEHY). As well as payments behemoth Visa Inc (NYSE: V) and gaming titan Electronic Arts Inc. (NASDAQ: EA).

Meanwhile, Templeton Global Growth’s top holdings (also as of May) include JPMorgan Chase & Co. (NYSE: JPM), Samsung Electronics Co Ltd (OTCMKTS: SSNLF), American Express Company (NYSE: AXP) and Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM). Templeton is also weighted heavily to the USA, which has a 36.9% weighting in the fund. Other significant geographical exposures come from Britain, Germany, Japan and South Korea.

The post WAM Global (ASX:WGB) swallows Templeton in massive ASX merger appeared first on The Motley Fool Australia.

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American Express is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen owns shares of American Express, JPMorgan Chase, Visa, and WAMGLOBAL FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Taiwan Semiconductor Manufacturing and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Electronic Arts. 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 Bruce Jackson.

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The ResMed Inc (ASX: RMD) share price is out of form on Tuesday.

In afternoon trade, the sleep treatment focused medical device company’s shares are down 2.5% to $31.82.

Despite this decline, the ResMed share price is still up over 17% since the start of the month.

Why is the ResMed share price dropping?

Today’s decline appears to have been driven by a combination of broad market weakness and a broker note out of Citi.

In respect to the latter, this morning analysts at Citi downgraded the company’s shares to a neutral rating with an improved price target of $32.50.

This was broadly in line with the ResMed share price prior to today’s decline.

Why did Citi downgrade its shares?

According to the note, the broker made the move on valuation grounds after a strong gain by the ResMed share price this month.

It notes that this has been driven by news that rival Philips has recalled its DreamStation CPAP devices. And while the broker has upgraded its earnings estimates to reflect its belief that this development could be a short term boost to ResMed’s sales, it feels this is now reflected in its shares.

Citi commented: “The recall of Philips’ DreamStation CPAP devices creates an opportunity for RMD to fill the void in the short term and potentially make long-term market share gains. Philips is unlikely to be able to supply new patients until Jan 2022 as it ramps up production of its DreamStation 2 – new patients account for ~80% of Philips’ CPAP devices sales.”

“We upgrade FY22-23e EPS by 5%/10%, increase our TP to $32.50 (from $28.50) but downgrade to Neutral as the share price now reflects our base-case scenario. We assume RMD can increase its CPAP devices and masks manufacturing capacity by 20% and that Philips won’t re-enter the new patient market for 12 months – these two variables are the main unknowns. RMD has not made any comments on the situation and will report FY21 in August,” it concluded.

The post ResMed (ASX:RMD) share price tumbles on broker downgrade appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Medibank Private Ltd (ASX: MPL) recovered from a poor start this morning following news the company will be returning around $105 million to its customers.

At the time of writing, the Medibank share price is $3.16 – 0.48% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.67% right now.

Let’s take a look at today’s news from the healthcare and health insurance company.

Medibank’s COVID-19 support

Medibank has announced it will be returning $105 million in COVID-19 net claims savings. Around 2 million of its customers will be eligible for the give back.

Medibank customers with extras-only policies will receive up to $52, while those holding hospital and extras policies could get $175.

It will also be postponing premium increases for 6 months.

Additionally, ahm customer extra limits will be extended by a year as many customers couldn’t use their extras during COVID-19 lockdowns.

The give back will be funded through a partial release of the savings Medibank made when customers were forced to defer their claims because of COVID-19.

Australian Medibank and ahm customers who held policies between 1 July 2020 and 30 June 2021 are eligible for the support. Most customers will receive the financial support by the end of September.

The company has now handed out $300 million worth of COVID-19 support.

Medibank doesn’t expect COVID-19 to impact its operating earnings for the 2021 financial year.

Commentary from management

Medibank’s CEO David Koczkar said of the company’s financial support package:

We’ve been there for our customers to help them navigate through this challenging time, and this give back is just another example of how we are supporting our customers…

We said right from the start of the pandemic that we would not profit from COVID-19, and that we were committed to returning any COVID-19 savings back to our customers because it is the right thing to do. And today’s announcement shows that we have done what we said we would.

Medibank Private share price snapshot

Lately, the Medibank share price has been performing well on the ASX. It’s currently 4% higher than it was at the start of 2021. It has also gained 7% since this time last year.

The company has a market capitalisation of around $8.6 billion, with approximately 2.7 billion shares outstanding.

The post Medibank (ASX:MPL) share price up as customers get millions in support 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 no position in any of the stocks mentioned. 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 Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Cryptocurrencies might be in a slump at the moment, but that hasn’t stopped investors from jumping on the crypto bandwagon.

While most of the attention is focused on the biggest names in cryptocurrency, like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), countless newer coins have popped up over the past few months.

“Meme coins” are often written off as a joke, but some investors believe they should be taken seriously. Cryptocurrencies like Dogecoin (CRYPTO: DOGE) have made massive waves in the crypto space, and some people have made a lot of money from these investments. But are meme coins a smart investment?

What are meme coins?

Meme coins are cryptocurrencies that have gained popularity in a short amount of time, usually as a result of influencers and retail investors promoting them online.

Dogecoin is the original meme coin: It was created as a joke based on a meme back in 2013. It rose to fame after Elon Musk began tweeting about the cryptocurrency, and retail investors started buying in droves.

Because anybody can create a new cryptocurrency, developers have released a slew of meme coins after Dogecoin. Many of these coins are spinoffs of Dogecoin — take the coin Shiba Inu (CRYPTO: SHIB), for example — but there are thousands of other meme coins out there. In fact, according to the website CoinMarketCap, there are more than 5,000 meme coins in existence as of this writing.

What’s the difference between cryptocurrency and meme coins?

Meme coins are a type of cryptocurrency, but there’s one major difference between cryptocurrencies like Dogecoin and Shiba Inu and currencies like Bitcoin and Ethereum, and it comes down to utility.

Major cryptocurrencies like Bitcoin and Ethereum were developed to solve real-world problems. The goal is to eventually become widely accepted by merchants, creating a new form of decentralized currency and revolutionizing a variety of industries.

Meme coins, on the other hand, serve no real-world purpose right now, and most of them were created as a way to make a quick buck.

Some of these coins have gained notoriety because they’re promoted by influential celebrities, and retail investors have pumped up their prices by promoting them heavily online. This is why these coins tend to experience explosive growth despite their shaky fundamentals.

Once their prices surge, many investors sell shortly after to make a quick profit. Because meme coins have no real utility at the moment, it’s unlikely they’ll still be around in a few years or decades. Once investors move on to a new stock or cryptocurrency, meme coins will likely see their prices plummet.

Should you invest in meme coins?

While it is possible to make money investing in meme coins, this type of investment is incredibly risky and more similar to gambling than true investing. If you happen to buy and sell at precisely the right time, you could make a profit. It’s more likely, though, that you’ll lose all or most of the money you invest.

A better strategy is to focus on investments that are likely to perform well over the long run. Cryptocurrency in general is still highly speculative, so nobody knows how it will perform over time. But if you do invest in crypto, make sure you’re choosing currencies that have strong fundamentals and are more likely to stand the test of time.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post What are meme coins, and can they make you rich? appeared first on The Motley Fool Australia.

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Katie Brockman owns shares of Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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 Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. The benchmark index is currently down 0.9% to 7,241.8 points.

Here’s what is happening on the market today:

Big four banks drop

The big four banks are under pressure and acting as a drag on the market today. All four banks are in the red at lunch, with the National Australia Bank Ltd (ASX: NAB) share price the worst performer in the group. Its shares are down 1.1% at the time of writing.

Brokers respond positive to Metcash result

The Metcash Limited (ASX: MTS) share price is charging higher on Tuesday after brokers responded positively to its full year results release. Credit Suisse has retained its outperform rating and lifted its price target to $4.16. Whereas Morgan Stanley retained its overweight rating and increased its price target to $4.15. The compares to the current Metcash share price of $3.86.

ResMed downgraded

The ResMed Inc. (ASX: RMD) share price is trading lower today. This appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has downgraded the medical device company’s shares to a neutral rating with an improved price target of $32.50. It made the move on valuation grounds after a strong gain.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Metcash share price with a 4% gain. This follows the aforementioned positive response to its full year results. The worst performer with a 4.5% decline has been the Vicinity Centres (ASX: VCX) share price. This morning the property company’s shares traded ex-dividend.

The post ASX 200 down 0.9%: Big four banks drop, Metcash charges higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Facebook, Inc. Common Stock (NASDAQ: FB) share price closed up 4.2% yesterday (overnight Aussie time).

The social media giant finished the first trading day of the week at US$355.64 (AU$467.95) per share. That was enough to vault Facebook’s market cap to US$1.01 trillion, joining a small handful of listed companies that have cracked the trillion-dollar mark.

At time of writing, the Facebook share price is up another 0.2% in afterhours trading to US$356.21.

Why did shares in Facebook leap higher yesterday?

Facebook’s share price popped 4% higher in only 40 minutes yesterday afternoon (US time) after news broke that a judge had ruled in its favour and dismissed 2 major antitrust lawsuits.

In December 2020 the US Federal Trade Commission (FTC) along with several US state attorneys general filed the suits against Facebook, saying the company was violating antitrust laws. The FTC was looking to force Facebook to divest some of its assets, such as the highly popular Instagram and WhatsApp programs.

In a win for Mark Zuckerberg’s company, and the Facebook share price, the court ruled against the FTC. As Bloomberg reports, District Judge James Boasberg said there was not enough evidence presented to prove Facebook has more than a 60% monopoly share of the total social networking market.

That’s not necessarily the end of the FTC’s legal action against Facebook. The agency can refile its complaint within 30 days if it believes it can prove its antitrust allegations.

Facebook share price snapshot

Facebook shares are up 61% over the past 12 months. And since the 20 March 2020 pandemic-fuelled low, shares are up 138%. And remember, this is a US$1 trillion company we’re talking about.

Apple Inc (NASDAQ: AAPL) became the first listed US company to surpass US$1 trillion almost 3 years ago. It’s since been joined by Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), and Alphabet Inc Class A (NASDAQ: GOOGL), or Google to you and me.

With Facebook’s share price lift yesterday, it now joins this trillion dollar club.

The post Facebook (NASDAQ:FB) joins US$1 trillion club as share price leaps appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, and Facebook. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Worley Ltd (ASX: WOR) share price is starting the day off in negative territory today. This comes after the engineering group announced that it has been awarded a services contract from Syrah Resources Ltd (ASX: SYR).

During mid-morning trade, Worley shares are down 1.26% to $11.71 while the Syrah share price has lifted 0.49% higher to $1.02.

Worley expands partnership

Investors are selling off Worley shares despite the company announcing a positive release to the ASX.

According to the update, Worley advised it has been awarded a detailed engineering and procurement services contract. The scope of work will be for the expansion of production capacity at Syrah’s active anode material (AAM) facility in Vidalia, the United States. It is expected that once the project is complete, the plant will produce around 10,000 tonnes per annum of AAM.

AAM is a natural graphite material that is used in lithium-ion batteries to power electric vehicles.

Syrah noted that Worley is experienced in delivering the project due to previous work between both parties. This includes the bankable feasibility study, front-end engineering and design, as well as interim detailed engineering services.

Worley will use its United States Gulf Coast team to execute the work, whilst receiving support from its Global Integrated Delivery Team in India.

Worley CEO, Chris Ashton said:

We are delighted to expand our relationship with Syrah and further support Syrah’s production of materials that play an important role in the energy transition. We are helping our customers adapt to the world’s changing energy needs and achieve their renewable energy goals, so this is a strategically significant project for Worley.

Syrah managing director and CEO, Shaun Verner went on to add:

We are delighted to execute this services contract and to continue our successful technical partnership with Worley through to the next important project phases at Vidalia. The finalisation of this contract, and the substantial engineering work completed to date with Worley, has de-risked the project and is a key step in advancing towards construction of the 10ktpa AAM facility at Vidalia.

Worley share price summary

Over the past 12 months, the Worley share price has gained close to 40% but is relatively flat for 2021. Worley shares took a hit in late January after providing a business update and have moved in circles ever since.

Worley presides a market capitalisation of more than $6 billion at today’s prices, with just over 522 million shares outstanding.

The post Worley (ASX:WOR) share price backtracks regardless of contract win appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned.

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The Ansell Ltd (ASX: ANN) and Healius Ltd (ASX: HLS) share prices both set new 52-week highs this week.

Let’s take a look at each individually and the recent events for each ASX share.

A look at Ansell’s share price

The Ansell share price hit a record high yesterday at $43.23, trading above the 52-week low of $33.23 on 8 December 2020.

Shares in the global player for health and safety protection solutions have climbed 22.67% year-to-date, outpacing the S&P/ASX 200 Index (ASX: XJO)’s 11% at the time of writing.

The company’s shares have also posted another 4.04% over the last 1 month, at the time of writing. Today’s trading volume is more than 50% of the 20-day average.

The Ansell share price has also gained a further 2.6% over the past 5 days to hit $43.16 at the time of writing, giving the company a market capitalisation of $5.39 billion.

On 8 June 2021, the company announced the appointment of new Chief Executive Officer Neil Salmon, to succeed outgoing CEO Magnus Nicolin, effective September 2021.

In the announcement, Ansell chair John Bevan stated:

Neil has the right combination of financial and operational experience and capability for the CEO role at Ansell. He has worked alongside Magnus for many years and was a key contributor to the strategies which transformed Ansell during that time. More recently, Neil also led our Industrial GBU with its over 7,500 strong manufacturing, marketing and product development workforce located in multiple jurisdictions. His leadership was critical in the management of the initial challenges of the pandemic, positioning the business where it could maximise benefits from the recovery as it emerged.

Investors continue to reward Ansell shares, with the company’s share price gaining 10.5% since this event at the time of writing.

Healius share price snapshot

The Healius share price set a new 52-week high of $4.65 in today’s session, capping off a year-to-date gain of 20.16% at the time of writing.

Trading volume is more than triple of the 20 day average for this time of day. The 52-week range for Healius share price is $2.98–$4.65.

The Australian healthcare company specialises in pathology, imaging and medical facilities. Its shares have gained 9.64% over the previous month and 4.9% in the previous 5 days, giving the company a market capitalisation of $2.8 billion.

Healius has seen its share price increase by 15.86% since May, where it presented a positive trading performance to the Macquarie Australia trading conference.

Foolish Takeaway

These 2 ASX shares have each set new 52-week highs after gaining more than 20% each this year, and have both outpaced the ASX 200’s return this year to date.

The post 2 ASX shares hitting record highs this week appeared first on The Motley Fool Australia.

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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 Ansell Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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