Two leading S&P/ASX 200 Index (ASX: XJO) stocks are charging ahead to set new all-time record highs on Wednesday.
And their solid performance today is helping lift the ASX 200 to a 0.9% intraday gain today.
Which stocks are we talking about?
I'm glad you asked!
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Two ASX 200 stocks leaping to new records
First up we have ASX 200 healthcare stock Cochlear Ltd (ASX: COH).
Cochlear is a world leader in the manufacture and sale of cochlear implantable devices for the hearing impaired.
The Cochlear share price is up 2.20% at the time of writing to $283.92. That sees shares up an impressive 39% in 2023. And it represents the highest share price since the company first began trading on the ASX on 4 December 1995.
Yep, that makes this a new 28-year all-time high.
Atop the capital gains, Cochlear shares also trade on a 1.2% partly franked dividend yield.
At the new all-time high share price, the company has a market cap of $18.6 billion.
As for what's been driving investor enthusiasm in the ASX 200 stock, Cochlear had a strong performance in FY 2023, with underlying net profit increasing 10% year on year to $305 million, at the top end of the company's guidance range.
And investors should have more growth to look forward to, with FY 2024 guidance forecasting an increase in underlying net profit in the range of 16% to 23%.
Which brings us to the second ASX 200 stock smashing all-time highs today, Super Retail Group Ltd (ASX: SUL), whose brands include Supercheap Auto, Rebel, BCF, and Macpac.
The Super Retail share price is up 1.5% today at $14.72. That sees the share price up 37% in 2023 and represents the highest level since the company listed on the ASX on 6 July 2004.
Super Retail enjoyed a very strong FY 2023, reporting an 11% year on year increase in statutory net profit after tax (NPAT) to $263 million. Sales were up 9% from FY 2022 to $3.8 billion.
This led to a big uplift in full year dividends to $1.03 per share. The ASX 200 stock trades on a 7% dividend yield, fully franked.
