The Sonic Healthcare Ltd (ASX: SHL) share price hit an all-time high today, reaching a top of $38.51 before pulling back to the current trading price of $38.15.
Today's gains extend a 16% year-to-date run for the global pathology provider, outpacing the S&P/ASX 200 Index (ASX: XJO) which has posted a 10% return over same time.
Sonic's share price has climbed an additional 9.66% over the previous 1 month at the time of writing, following the announcement it will acquire 100% of Canberra Imaging Group back on 17 June.
Regarding the transaction, Sonic chief executive officer Dr Colin Goldschmidt said:
"Canberra Imaging Group is a high quality imaging practice, with outstanding radiologists, management and staff, and with a culture that is strongly aligned with Sonic's Medical Leadership model. CIG has a proven track record in the greater Canberra market, with a history of strong organic growth based on personalised and excellent customer service. I am delighted to welcome warmly all CIG staff to the Sonic Healthcare group."
Today's trading volume is 95% more than the 20 day average trading volume for this time of day, and the share price has come off a 52-week low of $30.08 back in June 2020.
Image source: Getty Images
Sonic share price snapshot
On current prices, Sonic Healthcare has a market capitalisation of more than $17 billion, and trades at a price-to-earnings ratio (P/E) of around 19.
The company also pays a dividend of 87 cents per share, 30% franked. At the current share price, this equals an annual dividend yield of around 2.3%.
Sonic has a sound track record of meeting its distribution schedule, having met each payment since March 2009.
At the time of writing, the Sonic share price is up 0.16% at $38.15 per share.
