It's been a good day for Australian share investors, but few companies have generated as much excitement as Medibank Private Ltd (ASX: MPL).
The health insurer's shares rose as much as 20.5% earlier in the session, touching an all-time high of $2.70. They've since retreated but are still sitting nearly 11% higher at $2.485.
Shares of Medibank Private's rival NIB Holdings Limited (ASX: NHF) have also gained 4% for the day.
The surge in Medibank's share price came after the group increased its full-year earnings guidance by 27% this morning, despite lower-than-expected new sales during the first-half.
Investors who bought shares during the November 2014 float are now sitting on a paper profit of more than 24%, compared to an 8.5% decline for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).
