The ASX is cruising along in 2025, extending a solid run for the S&P/ASX 200 Index (ASX: XJO). In the past year, it has climbed 655 points, or more than 8.5%.
According to the experts, investors searching for shares with even greater momentum might want to look at these two standouts: Telix Pharmaceuticals Ltd (ASX: TLX) and Medibank Private Ltd (ASX: MPL).
Both stocks are cruising ahead of the broader index this year, so let's take a closer look.
Momentum shares outpace index
Telix shares have surged over 176% over the past twelve months and are up 27% this year already.
The radiopharmaceutical company grew sales rapidly last year thanks to its flagship imaging agent, Illuccix.
In its FY24 results, revenues climbed 56%, growing after-tax profits by 860% year over year. This prompted management to provide some bullish guidance numbers.
For FY25, Telix expects revenue between $1.18 billion and $1.23 billion, a 51% to 57% increase over last year.
As reported by my colleague James, Bell Potter has upgraded its price target on Telix shares to $36 in a client note.
This implies a nearly 19% upside from the current price of $30.33 before the market open on Tuesday.
Zooming out, several "short-term catalysts" could push the stock higher, Bell Potter says, including product approvals and clinical studies set for this year.
Medibank shares continue ascent
The second momentum share on the list is Medibank. Shares in the private health insurer have been quietly ascending higher after a major data breach hit the business in October 2022.
But since then, the stock has remained in an upward trend, and outpaced the broader market's return.
Here's what I mean.
Since November 4, 2022 (shortly after the data breach mentioned above), the ASX 200 Index has increased by a cumulative 20.5% in value to its current level. The ASX 200 is a proxy for 'the market return' in Australia.
Meanwhile, Medibank shares have pushed more than 43% higher over that time, nearly two times the index's return. You can see this in the chart below.
And so far, this trend remains in place for 2025.
Since January, the ASX 200 is up about 1.3% before the open on Tuesday. Medibank shares have jumped nearly 7%.
The consensus of analysts' estimates rates the momentum share a buy, according to CommSec data.
Analysts project an average price target of $4.15 on the share, projecting $4.65 at the upper estimate, according to Tradingview.
According to my colleague Tristan, the company also offers an attractive dividend yield.
Analysts also estimate that Medibank will pay dividends of 18.5 cents per share in FY25, per CommSec.
Foolish takeout
These two shares have continued their momentum in 2025, both outpacing the market so far this year.
Time will tell if the trend continues, but for now, brokers rate each stock highly. Let's see what the rest of the year brings.
