The Sonic Healthcare Limited (ASX: SHL) share price has jumped out of the starting blocks on Friday.
Sonic Healthcare shares are now exchanging hands at $42.96, after reaching a new record high of $43.43 in early trade.
Let's investigate further.
What's up with the Sonic Healthcare share price today?
The Sonic Healthcare share price has been on the move since the company reported its FY21 earnings on 23 August.
Since then, the company's shares have increased from $41.65 to the current quote price, which is a 3.15% climb.
In its FY21 earnings report, Sonic recognised a 28% year on year increase in revenue to almost $9 billion, whereas it recorded an 81% increase in EBITDA from the same time last year.
This growth occurred alongside EBITDA margins improving by over 9% in FY21, underscored by a strong performance in the company's ANZ, USA and European markets.
In addition, it grew net profit by about 150% over the year to $1.3 billion. Consequently, the company raised its FY21 dividend by 7% to 91 cents per share.
Despite the growth in FY21, management was hesitant on providing FY22 guidance, due to uncertainties around Covid-19 testing volumes as we walk through the coming periods.
There is no market sensitive information for the company today. Therefore, it stands to reason that investors are driving the Sonic Healthcare share price higher on the back of its well-rounded FY21 performance.
Sonic Healthcare share price snapshot
The Sonic Healthcare share price has posted a year to date return of 34%, extending the previous 12 month's gain of 30%.
In addition, Sonic shares are 7% in the green over the last month.
These results have lagged the S&P/ASX 200 index (ASX: XJO)'s climb of about 25% over the past year.
