With the S&P/ASX 200 Index (ASX: XJO) in such strong form, it will come as no surprise to learn that several ASX 200 shares are scaling new heights.
Three ASX 200 shares that have just hit 52-week highs or better are listed below. Here’s why they are flying high:
Healius Ltd (ASX: HLS)
The Healius share price hit a multi-year high of $4.88 yesterday. Investors have been buying this leading healthcare company’s shares this year due to its strong performance in FY 2021. This is being driven largely by its pathology business, which continues to benefit greatly from the strong demand for COVID-19 testing. And while the vaccine rollout is gathering pace, the emergence of the Delta strain is expected to support strong testing volumes for at least the remainder of the year. The Healius share price is up 29% in 2021.
ResMed Inc (ASX: RMD)
The ResMed share price continued its impressive run and reached a new record high of $36.00 on Wednesday. Investors have been fighting to get hold of this sleep treatment focused medical device company’s shares recently following a major product recall by rival Philips. Analysts are tipping ResMed to win market share while Philips is sorting out the recall and replacement of millions of sleep apnoea devices. The ResMed share price is up 29% in 2021.
Telstra Corporation Ltd (ASX: TLS)
The Telstra share price climbed to a 52-week high of $3.83 yesterday. This telco giant’s shares have been in fine form this year thanks to its improving outlook. This is being underpinned by its 5G leadership, rational competition, and cost reductions. In addition, Telstra has announced a major asset sale, plans to return funds to shareholders, and its belief that a return to growth is on the horizon. The Telstra share price is up 26% in 2021.