Why Beach, IDP Education, & Nanosonics shares are up 50% in 2019

The All Ordinaries (Index: ^AXAO) (ASX: XAO) is up 0.5% in afternoon trade to 6,304.5 points.

This latest gain means the index has risen a sizeable 10.4% since the start of the year. Whilst this gain is certainly impressive, some shares on the index have generated returns far greater.

The three shares below are all up over 50% since the start of the year. Here’s why:

The Beach Energy Ltd (ASX: BPT) share price has climbed 55% since the start of the year. Investors have been fighting to get hold of the energy producer’s shares after it tripled its underlying half year net profit after tax to $278.8 million. In addition to this, the company upgraded its production guidance for the full year from 25-27 MMboe to 28-29 MMboe. Whilst I am a fan of Beach, I think its shares are about fair value now unless oil prices were to climb notably higher from current levels.

The IDP Education Ltd (ASX: IEL) share price is up 50% so far in 2019. This student placement services and language testing company’s shares have been on fire since the release of its half year results. During the first half of FY 2019 IDP Education posted an impressive 26% increase in total revenue to $304.3 million and a sizeable 34% jump in net profit after tax to $40.7 million. This was driven by a 19% increase in English Language Testing revenue and a 36% lift in Student Placement revenue. I think IDP Education has an extremely bright future ahead of it, but I would prefer to pick up shares at a cheaper price.

The Nanosonics Ltd (ASX: NAN) share price has jumped 53% since the turn of the year. The infection control specialist was another company that impressed the market during earnings season. In the first half of FY 2019 Nanosonics delivered a 36% increase in sales to $40.7 million and a 195% lift in operating profit before tax to $11 million. Strong demand for its trophon product was the key driver of its growth. During the half the company’s installed base grew to a total of 19,310, which was a 20% increase on the same period last year. Whilst a recent spot of insider selling is a concern, I believe it could be a great long term investment.

Missed these strong gains? Then don't miss out on these top shares that have been rated as potential market beaters.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited. 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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