Despite a decent rebound this month, October’s sell off means that the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 3.2% year to date excluding dividends.
Not all shares have fallen with the index, though. In fact, the three shares below have been amongst the best performers in 2019.
Is it too late to buy these high-flying shares?
The IDP Education Ltd (ASX: IEL) share price is up an impressive 53% year to date. Investors have been fighting to get hold of the shares of the provider of international student placement and English language testing services due to its impressive performance in FY 2018. IDP Education posted a 24% increase in revenue to $487 million and a 30% lift in EBITDA to $89 million due to growth from all sides of its business. While growth is expected again in FY 2019, management is yet to provide any real guidance. In light of this and the premium its shares trade at, I would suggest investors hold fire until its half year results release early next year.
The Mayne Pharma Group Ltd (ASX: MYX) share price has also risen 53% so far in 2019. This pharmaceutical company’s shares were crushed last year due to the negative impact of significant price deflation in the generic drugs market. In recent months there have been positive signs that prices are recovering, putting Mayne Pharma in a position to return to growth again. While it may be prudent to wait for its AGM later this month, I do think that it could be a great long-term investment option for investors now that trading conditions are improving.
The ResMed Inc. (ASX: RMD) share price has pushed 32% higher so far this year. An impressive performance in FY 2018 and a strong start to the new financial year have largely been the catalysts for this sleep treatment company’s strong share price gain. In the first quarter of FY 2019 ResMed posted a 12% increase in revenue to US$588.3 million and a 23% jump in net profit to US$105.7 million. A key driver of this growth was its SaaS segment which reported a 25% increase in sales thanks to continued growth of its Brightree service offerings and the contribution of its newly acquired HEALTHCAREfirst business. While its shares trade at a premium to the market average, I believe its positive growth profile makes it worth considering if you’re prepared to hold its shares for the long-term.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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 Scott Phillips.