Why these 4 ASX shares are soaring today

The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) has finished the week strongly to close up around 0.7% for the day and 4.5% for the week. Some companies have demolished those returns though, with the four below having an especially strong day.

Let’s look at what might be behind some of today’s price action.

Bellamy’s Australia Ltd (ASX: BAL) shares are up 4.4% to $10.48 despite the company releasing no news to the market. Shares have been on a wild ride recently as investors guess the potential impact of new taxes introduced by the Chinese state on imported goods. Bellamy’s is likely to continue growing strongly into the future, although it’s important investors remain aware of the competitive risks.

Sirtex Medical Limited (ASX: SRX) shares jumped 3.3% today as investors pile back into a company that had been sold off after it posted weaker-than-expected half-year results in February. However, markets are forward looking and the company continues to grow sales strongly, with several clinical trials progressing that may support future growth. This business is only for the more risk tolerant investors, but I would not be surprised to see shares finish 2016 far higher than today’s level of $31.

Medical Developments International Ltd (ASX: MVP) shares are up 4% to $5.70 today and up 163% over the past year as the company’s global growth prospects continue to excite investors. The company manufactures and sells the Penthrox emergency pain killer drug commonly used by emergency teams or medical professionals to treat accident victims. Given it is eyeing more expansion in the US and Europe it looks a business to watch.

Shine Corporate Ltd (ASX: SHJ) shares closed up 6% to 96.5 cents as the law firm rebounds from an approximately 70% collapse in value after it owned up to accounting issues at the start of 2016. The accounts are complicated by the fact that revenue is recognised as legal services are delivered, while there can be significant lags between recognition of income and receipt of cash. Investors then should be sure of the financials before considering committing any cash.

The Internet is About to Go "Six Feet Under"... And You CAN'T Afford to Miss What Comes Next

In-the-know investors are dancing on the Internet's grave--and gearing up to cash in on an even BIGGER tech industry. Australia--and the world--will NEVER be the same. Dollar for dollar, insiders are calling it one of the biggest new markets in the history of modern business... NOW is the time to get in on the hush-hush industry that could be poised for growth of over 4,463%+ by 2020... And the 1 ASX stock that stands to grow YOUR money right alongside it! Simply click here to learn its name.

Motley Fool contributor Tom Richardson owns shares of Bellamy's Australia and Sirtex Medical Limited. The Motley Fool Australia owns shares of Bellamy's Australia.

You can find Tom on Twitter @tommyr345

We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.