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Why these 4 ASX shares are soaring today

It has been another day of gains for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). The benchmark index is currently up by 0.5% to 5,365 points, with the materials and consumer discretionary sectors doing a lot of the heavy lifting.

Four shares which have had a particularly good day are as follows:

Automotive Holdings Group Ltd (ASX: AHG) shares have jumped over 4% higher to $4.16 today despite no news being released to market. As its share price was down around 11% year to date prior to today, it would appear as though bargain hunters have snapped up shares in the leading automotive retailing and logistics company. With its shares expected to provide a fully franked FY 2017 5.7% dividend, it’s not hard to see why.

Automotive Holdings shares are still down around 8% so far in 2016.

Impedimed Limited (ASX: IPD) shares have jumped almost 8% to $1.13 after it announced that US-based physicians will start to receive a 13.1% higher reimbursement for its L-Dex procedure from 1 January 2017. L-Dex enables the early identification of lymphoedema, a condition that affects 20% to 30% of breast cancer survivors. Whilst this is undoubtedly great news for the company and its product, I believe it may be a little premature to make an investment.

Impedimed shares are up 43% in the last three months.

Sirtex Medical Limited (ASX: SRX) shares continued their good run this week with a rise of almost 4% to $28.90. Today’s rise comes following news that the liver cancer treatment company has found favour with global investment bank UBS. Following the release of the company’s positive market update yesterday, UBS has placed a $44 price target on the shares. This price target implies further upside of around 52%, which could make it a must buy for investors today.

Sirtex shares have risen almost 11% in the last five days.

South32 Ltd (ASX: S32) shares have climbed around 6% to $1.96, mirroring the gains of its London-listed shares overnight. The rise in its shares is likely to be attributable to reports in the Financial Times that Credit Suisse has highlighted South32 as a safe investment option in the mining sector. Additionally, the investment bank believes that the rebound in the mining sector means that a takeover approach of one of its peers such as Whitehaven Coal Ltd (ASX: WHC) is unlikely, so capital returns may be inevitable.

South32 shares have rocketed by over 85% this year.

Lastly, if you are looking at adding any of these shares to your portfolio I would suggest checking to see if you own one of these three rotten ASX shares firstly. Each could be doing more harm than good to your portfolio in my opinion.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

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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