A couple of ASX 300 healthcare shares are in the spotlight today after releasing their latest half year results.
One is disappointing its shareholders by heading lower with the market, whereas the other is making its shareholders smile by surging higher.
Let's see what is happening with these healthcare shares:
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Nanosonics Ltd (ASX: NAN)
The Nanosonics share price is up almost 16% to $4.00.
Investors have been buying the infection prevention company's shares following the release of its half year results.
The ASX 300 healthcare share posted an 18% increase in total revenue to $93.6 million and the more than doubling of its operating profit before tax to $10.9 million.
The company's top line growth was driven by an 11% increase in capital revenue and a 20% jump in consumable/service revenue to $69.2 million. Total capital units installed were 1,730 for the half, with its installed base increasing by 1,050 units to 35,840, and 680 upgrade units installed.
In light of this strong start to FY 2025, management has upgraded its full year guidance. CEO Michael Kavanagh said:
This half year result represents a solid foundation to build on for the remainder of the financial year. Consequently, the range for revenue outlook for the full year has been increased from 8-12% to 11-14%.
Sonic Healthcare Ltd (ASX: SHL)
The Sonic Healthcare share price was down as much as 3.5% to $27.82. This is despite the radiology provider reporting an 8.4% increase in half year revenue to $4.67 billion and a 17% jump in net profit after tax to $237 million.
Sonic also advised that its progressive dividend policy has been maintained, which has seen an increase in its interim dividend by 1 cent (or 2.3%) to 44 cents per share.
Commenting on the result, the ASX 300 healthcare share's CEO, Dr Colin Goldschmidt, said:
Our operations have performed to our expectations in the halfyear, with our management teams around the world acutely focused on achieving organic growth and margin improvement, in a setting of tight cost control. Our people are diligently working on a wide range of initiatives to drive growth and efficiency, including the many workstreams required to realise the synergies we expect from the significant acquisitions we have made in Switzerland, Germany and the USA since mid-2023.
Dr Goldschmidt revealed that its organic growth was solid during the six months and expects this trend to continue. He explained:
Organic revenue growth for the Group in the half-year was pleasing at 6%, with particularly strong organic growth in the Australian (9%), German (7%), and UK (8%) laboratory businesses, and in our Radiology division (12%).
I am confident that we are growing our share of those markets organically, driven by Sonic's Medical Leadership culture and consequent expertise in high growth and high value speciality testing. UK growth included the commencement in April 2024 of the Whittington Health Trust 10-year NHS laboratory outsource contract (with annual revenue of ~A$20 million), and Radiology growth included indexation of Medicare fees and targeted private billing.
