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Here’s why these 4 ASX shares have rocketed today

kathmandu

It has been a stunning day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) which has put on a gain of almost 2% to 5,240 points.

Whilst all sectors are posting gains today, the stand out has been the health care sector which is currently posting a gain of over 3.5%.

Across the market there are four shares in particular which have performed exceedingly well for their respective shareholders. They are as follows:

Kathmandu Holdings Ltd (ASX: KMD) shares are up a huge 17% to $1.46 after the outdoor and adventure retailer released a very upbeat trading update this morning. Kathmandu surprised the market by announcing that it expects to post full year net profit between NZ$32 million and NZ$35 million. This equates to an increase of around 60% year on year at a time when the market was largely pessimistic on its prospects following an unseasonably warm start to winter.

Kathmandu’s share price is just about flat year to date following these gains.

Mayne Pharma Group Ltd (ASX: MYX) shares have skyrocketed 28% to $1.90 today. The incredible gain comes on the back of news that it has successfully raised equity to complete its US$652 million acquisition of a portfolio of drug products. Mayne Pharma will acquire 37 approved and five FDA filed products from Teva Pharmaceutical Industries Limited and Allergan plc. Investors appear very impressed with the deal which management expects to be significantly accretive to earnings in FY 2017.

Mayne Pharma shares are now up by over 90% in the last 12 months.

Origin Energy Ltd (ASX: ORG) shares were up over 4% to $5.80 today. The cause of today’s jump in its share price is likely to be an announcement by the integrated energy provider that its first liquefied natural gas shipment to The Kansai Electric Power Company left Curtis Island yesterday. This shipment signals the beginning of a contracted supply agreement which sees Origin supply Kansai Electric with around 1 million tonnes of liquefied natural gas each year for the next 20 years.

Origin Energy’s share price is now up by 22% in 2016.

Paragon Care Ltd. (ASX: PGC) shares are up almost 7% to 69.5 cents following the release of its FY 2016 earnings update to the market. The update revealed that net profit after tax is expected to rise by at least 200% year on year thanks to solid organic growth and the successful integration of three key acquisitions. I believe the specialist medical equipment supplier to hospitals, medical centres, and aged care facilities still has a lot of growth ahead of it and is definitely one to watch.

Paragon Care’s share price is up by almost 20% in the last three months.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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