Why the Healius share price soared 9% today

The Healius (ASX: HLS) share price closed 9.4% higher today at $2.44 despite the business formerly known as Primary Health Care (until December 3 2018) releasing no specific news to the market.

Despite the name change the company’s operating segments remain the same with Healius posting an adjusted net profit of $92.3 million on adjusted revenue of $1,740 million for FY 2018. The adjusted profit and revenue were down around 6% and up 4.9% compared to FY 2017.

The group also paid a final dividend of 5.5 cents per share to take total dividends for FY 2018 to 10.6 cents per share which represents a payout ratio of 60% of underlying profit and a trailing yield of 4.3%.

Healius operates pathology clinics (its largest business), medical imaging, and general medical centres across Australia and can grow organically or by opening new medical centres in different fields.

Healius is forecasting underlying net profit at or above $100 million in FY 2019 based on a stronger second half to the year. This would be growth on an adjusted profit basis of around 10% if achieved.

Motley Fool contributor Tom Richardson has no position in any of the 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 Scott Phillips.

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